Top of the Street: Lanxess, Signature Aviation, Securitas, Marks & Spencer
08/02/2021 13:24
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Credit Suisse downgrades Lanxess LXSG.DE to "neutral"
from "outperform" as it sees further outperformance to be a
function of M&A, which is not currently included in the broker's
forecasts urn:newsml:reuters.com:*:nL8N2KE1EJ
** Barclays cuts Signature SIGSI.L to "equal weight" from
"overweight" as takeover battle for the private jet services
firm draws to a close after former Gatwick owner GIP, Blackstone
and Bill Gates' investment vehicle made joint bid of $5.62 per
share for the company urn:newsml:reuters.com:*:nL4N2KE2AY
** Deutsche Bank raises Swedish security company Securitas
SECUb.ST by one notch to "hold", saying macroeconomic
normalization should help both margins and organic growth
recover from mid 2021
** Flutter Entertainment FLTRF.I : Morgan Stanley ups to
"overweight" from "equal-weight", saying the recent dislocation
from the company's comp set provides a good entry point for a
strong global business and the U.S. market share leader ahead of
a positive US catalyst path
** Inderes cuts Fiskars FSKRS.HE to "reduce" from
"increase", saying 2020 was historically good for the Finnish
kitchenware and gardening tools maker, while weak 2021 market
outlook and the company's guidance give reasons for caution
** RBC downgrades British retailer Marks & Spencer MKS.L
to "sector perform" from "outperform" as its Clothing vertical
looks challenged and expects to sees further pressure short term
for the company's international performance
INITIATIONS AND REINSTATEMENTS
** Barcalys starts coverage of French technology company
Thales TCFP.PA at "equal weight", pointing out the share price
is cheap, but delivering on digital will be key urn:newsml:reuters.com:*:nL8N2KE1DA
(*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.)
((anita.kobylinska@thomsonreuters.com ;
paulina.cwikowska@thomsonreuters.com))