Top of the Street: Novo Nordisk, Iberdrola, IMCD, BT
04/03/2024 13:07
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** DNB raises Danish Novo Nordisk NOVOb.CO to "buy" from
"hold" as it believes the acquisition of Catalent CTLT.N , a
key manufacturing subcontractor, is a "game changer" allowing
"demand-driven" Wegovy sales from 2026
** Goldman Sachs upgrades Spain's Iberdrola IBE.MC to
"buy" from "neutral" as it sees limited earnings volatility as a
highly attractive feature on the back of falling energy prices
** Jefferies cuts Dutch IMCD IMCD.AS to "hold" from "buy"
due to a more "subdued" outlook with low visibility for this
year and a valuation premium to its peers
** Berenberg ups British BT BT.L to "buy" from "hold" as
fears concerning a results presentation from a new CEO in May
and a pivot away from CPI-linked retail pricing are overdone
(*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 Greta Rosen Fondahn and Matteo Allievi)
((Matteo.allievi@thomsonreuters.com))