Top of the Street: Merlin Properties, ACS, Endeavour Mining, DHL

Kuehne + Nagel International AG

15/10/2026 12:36

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
     
** Jefferies upgrades Merlin Properties MRL.MC from "hold" to "buy", saying that headwinds are now priced in and the underlying data centre growth remains intact 

INITIATIONS AND REINSTATEMENTS
** JPMorgan initiates its coverage on Spanish builder ACS  ACS.MC with an "overweight" rating saying data centre fears "obscure a compelling growth and valuation story"
** RBC initiates its coverage on DSV DSV.CO and Kuehne + Nabel KNIN.S  with "sector perform" ratings, saying the companies are high quality stocks with attractive total return profits, generating the bulk of their earnings in freight forwarding
** RBC also starts DHL DHLn.DE with an "outperform" rating, citing forecasts ahead of consensus driven by DHL Express and better that it expected volume outlook despite deglobalisation concerns 
** Goldman Sachs initiates coverage on Endeavour Mining PLC  EDV.L with a "buy" rating, saying gold has remained resilient despite real-rate backdrop and adding the stock offers strongest organic growth and FCF yield combination 
     
     
(*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 Margaux Perrin and Athina Karolidou)
 ((Margaux.Perrin@thomsonreuters.com))