Top of the Street: STMicroelectronics, Salmon farmers, Kone

P/F Bakkafrost

01/11/2021 11:58

(Updates to add Inderes on Kone)
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Citigroup downgrades STMicroelectronics  STM.PA  to
"neutral" from "buy" saying the Franco-Italian chipmaker's setup
is turning more balanced  urn:newsml:reuters.com:*:nL8N2RS25S
    ** Fearnley Securities cuts both Faroe Islands-based salmon
farmer Bakkafrost  BAKKA.OL  and its Norwegian peer Mowi
 MOWI.OL  to "sell" from "hold" seeing higher feed costs for
salmon farmers in 2022 and 2023 due to increased prices of raw
materials and supply chain inefficiencies
    ** Inderes raises Kone  KNEBV.HE  to "reduce" from "sell",
saying the expected return on the stock is positive for 2022,
though "valuation still offers little room for improvement"
    
    
(*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 Marta Frackowiak and Antonis Pothitos)
 ((marta.frackowiak@thomsonreuters.com ;
antonis.pothitos@thomsonreuters.com))