Top of the Street: Banca Generali, Covivio, Deutsche Boerse, Derwent London, Eurazeo
27/11/2025 11:58
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** J.P. Morgan upgrades German stock exchange operator Deutsche Boerse DB1Gn.DE to "overweight" from "neutral", saying the current valuation doesn't reflect the company's quality and diversification ** The broker downgrades French REIT Covivio CVO.PA to "neutral" from "overweight" citing limited near-term catalysts and limited EPS growth over the medium term from lower indexation and disposals ** It cuts UK's property investment and development firm Derwent London DLN.L to "neutral" from "overweight", noting that the stock's deep discount means its hard to see a meaningful sell off, and adds it also sees few catalysts for a re-rating at this point ** Kepler Cheuvreux downgrades Eurazeo EURA.PA to "hold" from "buy" saying it sees limited growth drivers for the French holding company INITIATIONS AND REINSTATEMENTS ** Kepler Cheuvreux initiates Banca Generali BGN.MI with a "buy" rating and a PT of 59 euros/share, citing Italy's growing household financial wealth market and the bank's "solid business model" (*Analyst rankings from Thomson Reuters StarMine. The scale is from 1-star to 5-star with 5 being the best. Analysts are ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.) (Reporting by Marta Serafinko in Gdansk) ((Marta.Serafinko@thomsonreuters.com;))