Top of the Street: Kingspan, QT, M&G, United Utilities

Qt Oyj

29/10/2021 12:20

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Inderes downgrades QT  QTCOM.HE  to "reduce" from
"accumulate" saying the expectations for short-term investor
returns have narrowed after a rise in valuation driven by strong
growth prospects into 2025
    ** Exane BNP Paribas raises Kingspan  KSP.I  to "outperform"
from "neutral" on healthy M&A appetite and a rich pipeline,
while benefiting from cost tailwinds 
    ** HSBC raises United Utilities  UU.L  to "hold" from
"reduce" saying that the UK government's decision to strengthen
duty to improve quality of discharges from storm overflows could
be a medium-term opportunity for accelerated growth for the
company
    
    INITIATIONS AND REINSTATEMENTS
    ** Goldman Sachs starts M&G  MNG.L  with "neutral" rating
saying the British-based savings and investment company is
currently in net outflows, but it can stabilize these and offset
the decline in its back-book, albeit only with modest underlying
capital generation

    
(*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 Joao Manuel Mauricio and Jagoda Darlak)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com;
jagoda.darlak@tr.com))