Top of the Street: Knorr Bremse, Pearson, Hemnet

Knorr Bremse AG

27/06/2025 11:30

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

** JP Morgan and Citi downgrade the German truck and rail break manufacturer Knorr Bremse KBX.DE to "neutral" from "overweight" and "buy"

** Both brokers point to the 48% year-on-year fall in the U.S. heavy truck orders, which accounted for 38% of the group's sale revenues in the commercial vehicles segment last year

** Exane BNP Paribas upgrades British education firm  Pearson PSON.L to "outperform" from "neutral", anticipating an underlying revenue growth to accelerate in H2

INITIATIONS AND REINSTATEMENTS

** UBS initiates coverage of Swedish property advertising platform Hemnet Group AB HEM.ST with a "sell" rating, citing cyclical risks and monetisation limitations

** UBS expects average revenue per published listing growth to slow to 30% and 15% in 2025 and 2026 respectively, adding that "a discount is justified given higher potential risks to earnings"

(*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.)

($1 = 0.7280 pounds)

 (Reporting by Romolo Tosiani, Boleslaw Lasocki)

 ((Romolo.Tosiani@tr.com))