Top of the Street: National Grid, Nestle, K+S, Publicis
03/10/2024 13:34
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Citigroup cuts British energy infrastructure operator
National Grid NG.L to "neutral" from "buy" and says the
valuation now fairly reflects its growth prospects and policy
support after an around 20% re-rating in the last four months
** Citi also downgrades Nestle NESN.S to "neutral" from
"buy", saying the short-term earnings downside risk is too big
with little return on investments
** J.P.Morgan cuts potash and salt miner K+S SDFGn.DE to
"neutral" from "overweight", saying a balanced or looser global
potash market will limit the upside to potash prices in the
medium term
INITIATIONS AND REINSTATEMENTS
** Citi reinstates coverage of Publicis PUBP.PA at
"neutral" and says the French advertising group's deal to buy
Mars United Commerce makes both strategic and financial sense
(*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 Isabel Demetz and Philippe Leroy Beaulieu)
((Isabel.demetz@thomsonreuters.com))