Top of the Street: Solvay, ISS, Eiffage, SSP, BASF

Iss A/S

15/04/2024 14:10

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Deutsche Bank downgrades Belgian chemicals firm Solvay
 SOLB.BR  to "hold" from "buy", saying it struggles to see
further upside to the stock, and warns FCF generation might
disappoint
    ** Goldman Sachs upgrades ISS  ISS.CO  to "buy" from
"neutral", saying it expects the Danish services provider to
generate about 65% of its market cap in equity FCF over the next
five years, and to have scope to return up to 75% of market cap
to shareholders through dividends and buybacks
    ** Stifel upgrades French construction and concessions group
Eiffage  FOUG.PA  to "buy" from "hold", saying the stock's
discount to peers seems overdone given the fundamentally strong
business coupled with growing interest in the name
    ** Stifel also raises British food and beverage outlet
operator SSP Group  SSPG.L  to "buy" from "hold", saying air and
rail traffic trends and high visibility on net contract gains
are supportive of revenue expectations
    ** Exane BNP Paribas cuts German chemicals group BASF
 BASFn.DE  to "underperform" from "neutral", saying the shares
have run too far, while both consensus and guidance factor in
recovery
    
    
(*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 Mateusz Dobrzyniewski and Paolo Laudani)
 ((mateusz.dobrzyniewski@thomsonreuters.com ;
paolo.laudani@thomsonreuters.com))