Top of the Street: UK housebuilders, Aena, CTS Eventim

CTS Eventim AG & Co KGaA

11/10/2024 12:40

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:

    ** Stifel says British housing market continues to improve,
which should underpin rising house prices, unit completions and
margins for the UK housebuilders
    ** It upgrades Barratt Redrow  BTRW.L  to "buy" from "hold"
after recent underperformance, expecting news around Redrow
acquisition to turn positive as the company would beat synergy
targets
    ** The broker downgrades Bellway  BWY.L  to "hold" from
"buy" after recent outperformance, citing limited upside
potential as Bellway "lost its usual confidence in its own
business model"
    ** It also reduces Vistry  VTYV.L  to "hold" from "buy", as
the company became aware that costs in their South Division have
been underestimated by around 10%
    ** JP Morgan downgrades Aena  AENA.MC  to "neutral" from
"overweight", saying the Spanish airport operator's strong
performance YTD leaves it with 5% upside to its PT
    
    INITIATIONS AND REINSTATEMENTS
    ** Deutsche Bank starts coverage of German ticketing group
CTS Eventim  EVDG.DE  with "buy" rating as strong cash
generation should allow for further acquisitions or investments
in new technologies, supporting more organic business growth
    
    (*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 Tiago Brandao and Maria Luiza Amaral)
 ((Tiago.Brandao@thomsonreuters.com;
Mia.Amaral@thomsonreuters.com;))