Top of the Street: WPP, Lanxess and Logitech

Logitech International SA

28/02/2025 10:45

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

** Barclays downgrades ad group WPP WPP.L to "equal-weight" from "overweight", citing its "sorely lacking" momentum and missed growth targets

** Berenberg cuts German speciality chemicals maker Lanxess LXSG.DE to "hold" from "buy," saying the shares might have rallied too much on the back of the pre-released Q4 beat, the prospect of peace in Ukraine bringing lower energy prices and relatively positive German election result

** BofA Securities cuts computer periferal maker Logitech LOGN.S to "underperform" from "neutral", expecting lower margins amid full inventories and a potential negative effect from U.S. tariffs

(*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 Anna Peverieri)

 ((Paolo.laudani@thomsonreuters.com; anna.peverieri@thomsonreuters.com))