Top of the Street: NN Group, Elia, Pearson, Persimmon

Elia SA

15/01/2025 13:44

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Kepler Chevreux downgrades Dutch insurer NN Group  NN.AS 
to "reduce" from "hold" citing a "too low capital ratio"
    ** KBC cuts grid operator Elia Group  ELI.BR  to
"accumulate" from "buy" citing inadequate capex strategy in the
face of recent political changes
    ** Bernstein cuts London-based media group Pearson  PSON.L 
to "market perform" from "outperform" citing a "slow and
burdensome" transition from print to digital
    ** Peel Hunt raises UK housebuilder Persimmon  PSN.L  to
"buy" from "hold" saying the stock's recent weakness offers an
attractive entry point for investors
    ** Deutsche Bank also upgrades Persimmon  PSN.L  to "buy"
from "hold" 
    ** DB cuts Beiersdorf  BEIG.DE  to "sell" from "hold" on
headwinds to premiumisation, especially for the Nivea brand
    ** Kepler upgrades German software developer Nemetschek
 NEKG.DE  to "buy" from "hold" citing a "visible growth
acceleration" through 2024 and into 2025
    ** Kepler raises Italian truck maker Iveco  IVG.MI  to "buy"
from "hold", saying end-market diversification should continue
to support earnings
    ** Kepler raises the German business application software
provider SAP  SAPG.DE  to "buy" from "hold", seeing more room
for earnings momentum
    
    INITIATIONS AND REINSTATEMENTS
    ** Goldman Sachs initiates UK-based student accommodation
developer Unite Group  UTG.L  at "buy" citing its well
positioned portfolio, favourable supply/demand dynamics and
value-accretive investment opportunities
    
(*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 Dimitri Rhodes and Antonis Pothitos)
 ((dimitri.rhodes@thomsonreuters.com;
antonis.pothitos@thomsonreuters.com))