Top of the Street: Oerlikon, Travis Perkins, Swisscom, Poste Italiane
10/06/2022 10:49
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Credit Suisse raises Oerlikon OERL.S to "outperform"
from "neutral", citing the Swiss high-tech services provider's
improved visibility for end markets, high dividend
** Berenberg cuts Travis Perkins TPK.L to "hold" from
"buy" as it expects a slowdown in construction demand to affect
the British distributor of building materials
** UBS cuts Swiss telecommunication services provider
Swisscom SCMN.S to "sell" from "neutral", seeing a slowing
growth in Italy amid rising broadband competition and upward
pressure on capital expenditure
INITIATIONS AND REINSTATEMENTS
** JP Morgan reinstates Poste Italiane PST.MI with
"overweight", saying the stock is trading at discount and the
postal operator has a potential to outperform financial targets
urn:newsml:reuters.com:*:nL8N2XX11Q
** ING initiates Belgium-based insurance company Ageas
AGES.BR with "hold", saying it expects 2022-23 results to be
burdened with lockdowns in China and macro slowdown urn:newsml:reuters.com:*:nL8N2XX1EJ
(*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 Boleslaw Lasocki and Joao Manuel Mauricio)
((boleslaw.lasocki@tr.com;
JoaoManuel.VicenteMauricio@thomsonreuters.com))