Top of the Street: Astrazenca, Georg Fischer, Wacker Chemie
04/07/2023 13:47
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Deutsche Bank downgrades London-based drugmaker
AstraZeneca AZN.L to "hold" from "buy" after the
"underwhelming" results of its lung-cancer drug trial published
on Monday
** Baader Helvea Equity Research downgrades Georg Fischer
GF.S to "add" from "buy" on declining industrial PMI in China,
where the Swiss industrial group makes around 25% of its sales
** HSBC ups Wacker Chemie WCHG.DE to "buy" from "hold", as
it expects the German maker of polysilicons to benefit from new
plans in Germany to support solar manufacturing and from poly
price decoupling
** J.P. Morgan cuts Persimmon PSN.L to "neutral" from
"overweight" as it does not see a potential volume recovery for
the British homebuilder as demonstrable over the next 12 months
INITIATIONS AND REINSTATEMENTS
** Deutsche Bank resumes coverage of Verallia VRLA.PA with
a "buy" rating citing favourable market conditions and solid
performance of the French glass packaging company
(*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 Luca Fratangelo, Jagoda Darlak)
((luca.fratangelo@thomsonreuters.com))