Top of the Street: Rio Tinto, Enel, Endesa, Experian, Polish banks
03/07/2025 12:55
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Berenberg downgrades Rio Tinto RIO.L to "hold" from "buy" saying it believes the mining giant's shares will struggle to rerate after drifting lower this year, as rising supply will put pressure on prices and a Chinese economic stimulus is unlikely ** Exane BNP Paribas cuts Enel ENEI.MI to "neutral" and its Spanish subsidiary Endesa ELE.MC to "underperform", preferring the former as growth projections for the Italian energy company remain modest but lack upside INITIATIONS AND REINSTATEMENTS ** Barclays initiates Polish banks Pekao PEO.WA and PKO BP PKO.WA with "overweight" and "equal-weight" ratings, respectively, saying Pekao has better stock-specific catalysts like the planned merger with PZU PZU.WA ** Kepler Chevreux starts coverage of credit data firm Experian EXPN.L with "buy", seeing it well positioned to reap benefits of both its B2B and B2C businesses compared to rivals (*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 Isabel Demetz and Antonis Pothitos) ((Isabel.demetz@thomsonreuters.com))