Top of the Street: Schroders, Orkla, SEB, Ferrovial

Orkla ASA

21/05/2024 13:53

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** UBS upgrades British fund manager Schroders  SDR.L  to
"buy" from "neutral," citing compelling valuation levels after
the shares have been underperforming the STOXX 600  .STOXX 
index YTD
    ** Bernstein raises Norwegian branded consumer goods company
Orkla  ORK.OL  to "market perform" from "underperform," pointing
to its valuation and the group's ability to relatively fast
rebuild profitability under current macroeconomic conditions 
    
    INITIATIONS AND REINSTATEMENTS
    ** Morgan Stanley starts Swedish lender SEB  SEBa.ST  with
"equal-weight," seeing the bank's Baltic's division net interest
income as a drag in the coming quarters, while fee income should
support revenues
    ** Citi initiates Ferrovial  FERF.AS  with "buy" as it sees
an upside to U.S. managed lanes pricing, with strong
macroeconomic dynamics in the Dallas and Fort Worth regions
offering good growth opportunities
    
(*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 Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))