Panmure picks its electrification favourites in Europe
BUZZ-Panmure picks its electrification favourites in Europe ** Panmure Liberum starts coverage of European stocks exposed to the electrification theme, saying long-term demand from grid investment, power infrastructure upgrades and data centres remains supportive
** The broker starts French electrical equipment group Schneider Electric SCHN.PA and German industrial group Siemens SIEGn.DE at "buy", citing exposure to the theme and more balanced growth expectations
** It starts Swiss engineering group ABB ABBN.S at "hold", citing valuation
** Italian cable maker Prysmian PRY.MI and German energy technology company Siemens Energy ENR1n.DE are rated "sell", with Panmure saying growth expectations have become too optimistic
** Shares in Prysmian are up about 43% this year, ABB 35%, Siemens Energy 21%, Siemens 15% and Schneider Electric 14%
Company | Rating | PT |
Schneider Electric | Buy | €330 |
Siemens | Buy | €325 |
ABB | Hold | CHF 85 |
Prysmian | Sell | €109 |
Siemens Energy | Sell | €125 |
($1 = 0.8927 euros)
($1 = 0.8315 Swiss francs)
(Reporting by Kira Britten)
((Kira.Britten@thomsonreuters.com))