Top of the Street: Accor, GTT, Daimler Truck, Vodafone, fertilizer makers

K+S AG

04/09/2026 12:00

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
     
** Morgan Stanley ups French hotel operator Accor ACCP.PA to "overweight" from "equal-weight", citing expected 2027 growth in revenue, net units and cash returns coupled with low valuation
** Berenberg upgrades French naval engineering firm GTT GTT.PA to "buy" from "hold", saying the business has a stronger core thanks to increased revenue diversification, and raising its forecast for LNG carrier orders to 650 vessels over the next decade, driven largely by U.S. projects
** Morgan Stanley cuts Daimler Truck DTGGe.DE to "equal-weight" from "overweight", saying it does not see the market consistently paying a much higher multiple at this stage of the cycle, while the risk reward is much less attractive than over the past year
** Goldman Sachs double upgrades Vodafone VOD.L to "buy" from "sell" as it sees accelerating growth in the company's return on invested capital, driven by UK mobile market repair and increased cost cutting
     
INITIATIONS AND REINSTATEMENTS
** Barclays initiates coverage of GTT GTT.PA with "overweight", seeing the French company as a unique way to gain exposure to LNG growth, supported by its dominant market position, record backlog visibility and exceptional cash generation
** Barclays initiates Yara YAR.OL with "underweight", saying the Norwegian fertilizer maker remains structurally disadvantaged versus leading global nitrogen peers due to its greater exposure to higher-cost European production and gas markets
** The brokerage starts German potash miner K+S SDFGn.DE with "equal-weight", saying it doesn't see obvious catalysts for a re-rating over the next 12 months, with rising European gas costs in 2027, subdued FCF outlook and a wall of new supply in potash markets to be absorbed
     
(*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 Joao manuel Mauricio and Mateusz Rabiega)
((JoaoManuel.VicenteMauricio@thomsonreuters.com))