A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Jefferies downgrades German construction company Kion KGX.DE to "hold" from "buy" following a 68% YTD rally that left it with a smaller upside, with risks ahead as investor focus moves to earnings
** RBC raises U.K. based construction firm Berkeley Group BKGH.L to "outperform" from "underperform" while it cuts peer Taylor Wimpey TW.L to "sector perform" to "outperform"
** Citigroup cuts British investment management company Man Group EMG.L to "neutral" from "buy"
(*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 Paolo Laudani and Mateusz Rabiega)
((Paolo.laudani@thomsonreuters.com))