GS says 'investment revolution' is set to lift European trading platforms

flatexDEGIRO SE

09/01/2026 13:51

** Goldman Sachs starts coverage of European trading platforms, seeing Europe poised for a 'retail investment revolution'

** The brokerage expects European investor participation to increase materially, driven by shifting attitudes, supportive regulation, pension reforms, and a large wealth transfer

** GS initiates coverage of Nordnet SAVE.ST and FinecoBank FBK.MI with a "buy" rating

** It finds FinecoBank's valuation appealing due to its accelerating growth and improving margins, with its upcoming Capital Markets Day event seen as a notable catalyst

** The broker sees Nordnet as attractive for its strong growth in high-margin markets and potential upside from geographic and product expansion initiatives

** It reiterates its "buy" rating on FlatexDEGIRO FTKn.DE

** The broker starts Swissquote SQN.S, Avanza Bank AVANZ.ST and AJ Bell AJBA.L with "neutral," favouring platforms with resilient revenue mixes, strong brands, ecosystem-like engagement, and scalable operating models

 (Reporting by Marta Frackowiak)

 ((marta.frackowiak@thomsonreuters.com))