Top of the Street: Safran, Zalando, JD Sports, Saint Gobain

Randstad NV

16/01/2025 11:37

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Morgan Stanley downgrades French jet engine maker Safran
 SAF.PA  to "equal weight" from "overweight" citing smaller
upside to forecasts and valuation multiples, as well as a lack
of catalysts near term
    ** UBS raises Europe's biggest online retailer Zalando
 ZALG.DE  to "buy" from "neutral" citing the potential start of
an upgrade cycle and significant value creation capability
    ** UBS cuts British sportswear retailer JD Sports  JD.L  to
"neutral" from "buy" citing expectations of negative
like-for-like sales growth in FY 2026 and the risk of another
double-digit cut to consensus PBT
    ** UBS downgrades French construction materials group Saint
Gobain  SGOB.PA  to "neutral" from "buy" on limited upside after
2024 re-rating
    ** BofA Global Research raises Randstad  RAND.AS  to "buy"
from "underperform" citing  significant share price decline and
potential for outperformance in 2025 
    
(*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
recommendatioPBTs over trailing 12-month & 24-month periods.)

 (Reporting by Anna Peverieri and Paolo Laudani)
 ((Anna.pevereri@thomsonreuters.com ;
paolo.laudani@thomsonreuters.com))