Top of the Street: MTU Aero, Partners Group, Halma, Diploma, Bunzl

MTU Aero Engines AG

19/06/2025 12:13

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

** Deutsche Bank upgrades German aircraft engine maker MTU Aero Engines MTXGn.DE to "buy" from "hold", noting its "stronger than expected" 2030 outlook

** Goldman Sachs downgrades Swiss private equity firm Partners Group PGHN.S to "neutral" from "buy", citing risk to near-term earnings from performance fee downgrades and a more challenging outlook for management fees

INITIATIONS AND REINSTATEMENTS

** Kepler Cheuvreux initiates British health and safety device maker Halma HLMA.L with a "buy" rating, noting its structurally strong market position, "pricing resiliency, and consistently strong profitability"

** It also starts British technical products and service distributor Diploma DPLM.L with a "buy" rating, saying its positioning supports "robust" pricing power, "best-in-class" profitability and "resilient" organic growth

** It also initiates British business supplies distributor Bunzl BNZL.L with a "hold" rating, as economic uncertainty and internal challenges would limit its near-term outlook despite improved profitability

(*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 Philippe Leroy Beaulieu and Athina Karolidou)

 ((Philippe.leroybeaulieu@thomsonreuters.com))