Top of the Street: LVMH, Kering, Yara, Norsk Hydro, EssilorLuxottica

EssilorLuxottica SA

12/05/2026 13:41

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

** Barclays upgrades French luxury goods conglomerate LVMH LVMH.PA to "overweight" from "equal weight", citing room for turnaround-driven growth acceleration at its Dior and Tiffany brands

** The broker also raises French luxury group Kering PRTP.PA to "equal weight" from "underweight", pointing to structural changes that could deliver material cost savings

** Citigroup cuts Norwegian fertilizer maker Yara YAR.OL to "neutral" from "buy", noting that fertilizer prices have started to roll over in some regions, with no material consensus upside under its base case of prices normalising by year-end

** Citigroup also downgrades Norwegian aluminium producer Norsk Hydro NHY.OL to "neutral" from "buy", seeing less attractive risk-reward following a recent metal price rally

INITIATIONS AND REINSTATEMENTS

** Deutsche Bank initiates Franco-Italian eyewear group EssilorLuxottica ESLX.PA at "hold", citing risks from weaker consumer sentiment and potential competition from big tech firms reportedly planning AI glasses launches

(*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 Rafal Nowak and Elviira Luoma)

 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))