Top of the Street: TUI, Monte dei Paschi, Centrica, Siemens, JDE Peet's

JDE Peets NV

19/03/2025 11:46

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** Deutsche Bank raises Banca Monte dei Paschi di Siena BMPS.MI to "buy" from "hold", seeing opportunities in the Italian bank's tender offer for Mediobanca MDBI.MI, including leveraging Mediobanca's balance sheet and acceleration of the distribution policy

** Barclays cuts UK energy company Centrica CNA.L to "equal weight" from "overweight" after its full-year results caused the brokerage to cut earnings estimates for 2025 and 2026

** RBC Capital Markets downgrades German engineering company Siemens SIEGn.DE to "sector perform" from "outperform", saying its share price has risen too close to its PT driven by the review of its ownership in Siemens Healthineers SHLG.DE

** BNP Paribas Exane upgrades Dutch coffee and tea company JDE Peet's JDEP.AS for the first time to "outperform" from "neutral" citing its "very depressed" valuation

INITIATIONS AND REINSTATEMENTS

** J.P.Morgan starts German tourism group TUI TUI1n.DE with "overweight", citing a path to margin improvements and an improved macro outlook for Germany

(*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 Bernadette Hogg and Michela Stasio)

 ((Bernadette.hogg@thomsonreuters.com))