Top of the Street: Bankinter, Getlink, Sodexo, Spanish utilities, DSM-Firmenich
24/04/2023 14:14
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Deutsche Bank upgrades Spain's fifth largest lender
Bankinter BKT.MC to "buy" from "hold" as the stock is poised
to recover after Thursday's earnings beat
** Goldman Sachs raises Channel Tunnel operator Getlink
GETP.PA to "buy" from "neutral" citing the end of the cyclical
trough for its shuttle service volumes, and higher power and
carbon prices for its competitors
** RBC cuts French catering and food services group Sodexo
EXHO.PA to "sector perform" from "outperform" as the recent
strong performance of the shares led to a more evenly balanced
risk-reward
** Citigroup cuts Spanish utility Endesa ELE.MC to
"neutral" from "buy" as a new drought could put pressure on the
group's profitability
** It also cuts Spain's biggest utility Iberdrola IBE.MC
to "sell" from "neutral", seeing the current premium the shares
trade at as unjustified
INITIATIONS AND REINSTATEMENTS
** JP Morgan resumes coverage of DSM-Firmenich DSFIR.AS
with "neutral" rating flagging uncertainty over the newly-merged
group's near term earnings due to choppy demand trends and
weaker vitamin prices
(*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 Matteo Allievi and Carlo Giovanni Boffa)
((Carlogiovanni.boffa@thomsonreuters.com))