Top of the Street: Brewers, business services, NN Group

NN

12/01/2024 13:08

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Exane BNP Paribas switches its preference to Denmark's
Carlsberg  CARLb.CO , which it raises to "outperform" from
"neutral" and cuts world's biggest brewer AB Inbev  ABI.BR  to
"underperform" from "neutral", citing valuation
    ** J.P.Morgan cuts NN Group  NN.AS  to "neutral" from
"overweight", despite labelling the stock the cheapest of the
Benelux-listed insurers, saying the Dutch insurer offers limited
earnings growth or potential for positive surprises
    ** Morgan Stanley downgrades German chemicals maker Wacker
Chemie  WCHG.DE  to "equal-weight" from "overweight", expecting
further downgrades for the stock
    ** Morgan Stanley is "shuffling the deck" in the business
services sector and is more constructive on testing & inspection
players. It ups Bureau Veritas  BVI.PA  to "overweight" from
"equal-weight", while cutting Eurofins Scientific  EUFI.PA  to
"underweight" from "equal-weight"
    ** The broker cuts pest control firm Rentokil  RTO.L  to
"equal-weight" from "overweight" and raises Swiss testing and
inspection company SGS  SGSN.S  to "equal-weight" from
"underweight"
    
(*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 Olivier Cherfan and Paolo Laudani)
 ((olivier.cherfan@thomsonreuters.com ;
paolo.laudani@thomsonreuters.com))