Top of the Street: Campari, Fortum, Persimmon, Huber+Suhner

Fortum Oyj

14/09/2026 11:26

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
     
** UBS upgrades Davide Campari CPRI.MI to "buy" from "neutral," citing the Italian spirits group's portfolio expansion and potential to accelerate organic growth
** Deutsche Bank upgrades Finnish utility Fortum FORTUM.HE to "hold" from "sell," calling a new long-term nuclear partnership with Google a "dream announcement" that secures higher prices for almost 10% of Fortum's volumes, and provides a huge counterparty that might be interested in further deals
** Davy Research upgrades UK homebuilder Persimmon PSN.L to "outperform", citing "strong embedded gross margins in its landbank" and higher house price growth than its peers driven by a geographic tilt away from London and towards the North of England and the Midlands
     
INITIATIONS AND REINSTATEMENTS
** Jefferies initiates Swiss connectivity firm Huber+Suhner HUBN.S at "buy," calling it a "high-quality connectivity play" with data centre exposure and robust industrial exposure that offers downside protection
     
(*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 Marta Serafinko)
((marta.serafinko@thomsonreuters.com;))