Top of the Street: Anglo American, Scout24, Auto Trader, Kion, HelloFresh
23/11/2023 11:52
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Deutsche Bank ups Anglo American AMSJ.J to "buy" from
"hold" as it believes the core business of the world's biggest
platinum miner by value is good quality and cash generative and
that a dose of self-help alongside an injection of cyclical
recovery could drive a powerful cash flow recovery
** UBS raises the online property platform Scout24 G24n.DE
to "neutral" from "sell", being "positive" on the long-term
opportunity within G24's adjacencies
** UBS cuts online car marketplace Auto Trader AUTOA.L to
"sell" from "neutral" as it believes a discount is justified
given an inferior growth profile and lower earnings visibility
** Stifel cuts German truck and industrial supplier Kion
KGX.DE to "hold" from "buy" and says significant project risks
come to the surface in turbulent times, and margin profiles are
significantly less attractive than they are for subsystem
standalone products
INITIATIONS AND REINSTATEMENTS
** UBS initiates HelloFresh HFGG.DE at "sell," naming it
its "least favoured name in European eFood," that has been left
"exposed to a post-COVID hangover" but with potential for
long-term growth amidst rapid growth in the US
(*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 Augustin Turpin and Paolo Laudani)
((augustin.turpin@thomsonreuters.com))