Top of the Street: Orange Belgium, Gamesys, Galapagos, Buzzi Unicem

Orange Belgium NV

14/04/2021 14:01

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Credit Suisse downgrades Orange Belgium  OBEL.BR  to
"neutral" from "outperform" after its parent company said the
EUR 22.0/shr offer was "final"
    ** Canaccord Genuity cuts British gambling operator Gamesys
 GYS.L  to "hold" from "buy" after formal announcement of its
combination with U.S.-listed Bally's Corp  BALY.N  
    ** Galapagos  GLPG.AS  is up 3% at 0820 GMT after Barclays
upgrades to "overweight" from "equal weight", pointing to the
Dutch biotech firm's positive early-stage pipeline and available
cash  urn:newsml:reuters.com:*:nL8N2M71LA
    
    INITIATIONS AND REINSTATEMENTS
    ** Berenberg initiates Buzzi Unicem  BZU.MI  with "buy" and
a target price of 28 euros, saying the Italian cement maker
offers an attractive investment option based on a compelling
cash generation and a strong balance sheet  urn:newsml:reuters.com:*:nL8N2M722V
    ** Credit Suisse initiates Britain's biggest seller of
building materials Travis Perkins  TPK.L  with "outperform",
citing faster than expected earnings recovery through 2021,
higher shareholder returns following the planned Wickes
demerger, and undervalued Toolstation growth potential
    ** Goldman Sachs initiates Swedish mining gear maker Epiroc
 EPIRa.ST  with "buy", citing quality growth and sector-leading
returns with strong leverage to mining upcycle
    ** UBS initiates UK's biggest bus and coach operator
Stagecoach  SGC.L  with "buy", citing benefits from simple
operating structure and "fairly" priced in risks to and
opportunities from changing passenger volumes 


    
    
(*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.)


 ((federica.urso@tr.com, r.plantera@tr.com))