Top of the Street: Nordea, K+S, BNP Paribas

Nordea Bank Abp

21/08/2025 11:25

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

** Barclays cuts Nordic bank Nordea NDAFI.HE to "underweight" from "equal weight", citing lower revenue expectations amid pressure on asset management and lending margins

** Exane BNP Paribas downgrades K+S SDFGn.DE to "underperform" from "neutral" as it views the German potash producer as less able to weather a potential downside scenario in potash prices than North American peers Nutrien NTR.TO and Mosaic MOS.N

** KBW cuts French lender BNP Paribas BNPP.PA to "underperform" from "market perform", pointing to capital concerns that are expected to limit earnings growth potential

(*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 Rafal Nowak and Romolo Tosiani)

((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))