Top of the Street: SAP, Lonza, Zalando, OCI, Vestas

OCI

02/02/2024 11:07

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Jefferies upgrades German software firm SAP  SAPG.DE  to
"buy" from "hold", saying it has "no reason to question growth"
with cloud backlog underpinning momentum going forward
    ** Deutsche Bank raises Lonza  LONN.S  to "buy" from "hold"
and says the Swiss pharmaceutical supplier's recent confirmation
of 2024 mid-term guidance was "reassuring"
    ** Morgan Stanley upgrades Zalando  ZALG.DE  to "overweight"
from "equal-weight", citing the German online fashion retailer's
resilient earnings and ability to preserve margins amid subdued
demand
    ** Berenberg upgrades agrochemicals producer OCI  OCI.AS  to
"buy" from "hold", expecting a positive financial impact from
the sale of its stake in Iowa Fertilizer Company
    ** Deutsche Bank Research cuts Vestas  VWS.CO  to "hold"
from "buy", saying it's time for a breather due to the risks
created by the Red Sea turmoil and U.S. elections
    
(*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 Federica Urso, Agata Rybska)
 ((Federica.urso@tr.com))