Top of the Street: Pernod-Ricard, Aker, Bankinter, Iberdrola, Thule
11/12/2025 11:47
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** RBC double upgrades Aker AKRBP.OL to "outperform" from "underperform", saying the stock has the potential to outperform the wider European energy group given its upcoming production and cashflow inflection ** Exane BNP Paribas cuts Bankinter BKT.MC to "neutral" from "outperform" and says it remains "constructive but more selective" on the sector, as European banks no longer offer a uniform upside ** Jefferies cuts Iberdrola IBE.MC to "hold" from "buy", saying the Spanish group's growth outlook is priced in after the stock's around 35% gains this year ** Barclays raises Pernod-Ricard PERP.PA to "overweight" from "equal-weight", seeing the stock as undervalued after years of underperformance and highlighting reduced exposure to China, more optimistic outlook for India, and low expectations in the U.S. market INITIATIONS AND REINSTATEMENTS ** UBS initiates Thule Group THULE.ST with "neutral" to await signs of a market return, as the short term remains negatively impacted by the wait-and-see attitude of retailers and cautious consumers ** Kepler Cheuvreux initiates Swedish technical solutions group Addtech ADDTb.ST and Swedish consumer goods conglomerates Lagercrantz LAGRb.ST both with "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 Anastasiia Kozlova and Clement Martinot) ((Anastasiia.Kozlova@thomsonreuters.com; Clement.Martinot@thomsonreuters.com))