A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Kepler Cheuvreux upgrades Dutch insurer and asset manager NN Group NN.AS to "hold" from "reduce", saying the company's capital position could allow for gradually increasing share buybacks in the coming years
** Baader Helvea raises Symrise SY1G.DE to "buy" from "add", citing the German flagrance and flavour maker's favorable risk-return profile as the stock's valuation ignores many positives
** Jefferies upgrades Italian pharmaceutical group Recordati RECI.MI to "buy" from "hold", citing stronger than expected growth prospects in rare diseases and benefits from recent M&A
INITIATIONS AND REINSTATEMENTS
** Citi resumes coverage on Finnish industrial machinery company Metso METSO.HE with a 'neutral' rating and a EUR 11.80 price target, citing unrealistic market hopes for future margin targets
(*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 Marta Maciag and Boleslaw Lasocki)
((Marta.Maciag@thomsonreuters.com))