Top of the Street: European utilities, Bayer, Reckitt

E.ON SE

05/06/2025 12:20

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

** Barclays raises French energy group Engie ENGIE.PA to "overweight" from "equal-weight", citing strong catalysts and significant discount to peers

** Barclays cuts both German energy company E.ON EONGn.DE and Italian gas network operator Snam SRG.MI to "equal-weight" from "overweight", after significant YTD share price outperformance

** Goldman Sachs upgrades Bayer BAYGn.DE to "buy" from "neutral", citing positive newsflow on the German chemicals group's glyphosate litigation as well as positive risk/reward from its Phase 3 asundexian trials

** Bernstein raises Reckitt Benckiser RKT.L to "outperform" from "market perform", seeing improvement in execution and a more positive catalyst path for the British consumer goods company

(*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 Ozan Ergenay and Marta Serafinko)

 ((ozan.ergenay@thomsonreuters.com))