Top of the Street: AstraZeneca, EDP, EDPR, Kemira, Novo Nordisk

Edp Renewables SA

27/10/2025 13:05

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

** Jefferies raises drugmaker AstraZeneca AZN.L to "buy" from "hold", saying it would be the first to benefit from any increase in non-specialist investor interest in the sector due to underappreciated oncology franchises and biopharma pipeline

** Deutsche Bank cuts Portuguese utilities EDP EDP.LS and EDPR EDPR.LS to "hold" from "buy", seeing EDP "much closer to full valuation" after strong stock performance and expects the Iberian hydro performance to be slightly below normal in Q3

** Citigroup cuts EDPR to "neutral" from "buy", saying the speed at which the shares have re-rated is causing the broker a "degree of nervousness"

** Inderes cuts Finnish chemical company Kemira KEMIRA.HE to "reduce" from "accumulate" after the company's Q3 print last week, as weaker revenue and limited earnings growth offset better profitability and neutral valuation

INITIATIONS AND REINSTATEMENTS

** Jefferies initiates coverage of drugmaker Novo Nordisk NOVOb.CO with "underperform", citing rising manufacturing competition and weaker pipeline prospects as risks across the GLP-1 ecosystem

(*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 Mathias de Rozario and Elviira Luoma)

 ((mathias.derozario@thomsonreuters.com; elviira.luoma@thomsonreuters.com))