Top of the Street: Carlsberg, Direct Line, Admiral, Elia

Elia SA

05/04/2024 10:43

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Barclays cuts Carlsberg  CARLb.CO  to "equal weight" from
"overweight", warning of the impact of consumer confidence in
China on the Danish brewer's organic growth

    INITIATIONS AND REINSTATEMENTS
    ** Exane BNP Paribas initiates Direct Line  DLGD.L  with
"sector perform" and stays cautious on the British motor
insurer's ROE target even though it sees scope for the stock to
grow near term 
    ** The broker initiates Direct Line peer Admiral  ADML.L 
with "outperform", seeing the insurer's short term 6%-8% EPS
above the consensus number as it expects operating leverage to
boost earnings
    ** Morgan Stanley initiates Elia  ELI.BR  with "overweight"
as the Belgian electricity group targets its RAB growth at a 20%
CAGR, while the sector is set to grow 8% on average
    
    
(*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 Olivier Cherfan and Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com ;
olivier.cherfan@thomsonreuters.com))