Top of the Street: UBS, Adidas, Galp, Akzo Nobel, Randstad, Kojamo

Randstad NV

24/04/2024 12:12

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Citi downgrades UBS  UBSG.S  to "neutral" from "buy" and
cuts target price to CHF 27 from CHF 28 as the Swiss
authorities’ new capital proposals add greater uncertainty for
the banking giant 
    ** Stifel upgrades Adidas  ADSGn.DE  to "buy" and raises
target price to 250 euros from 150 euros saying the German
sportswear company has shown faster-than-expected brand building
with its Q1 beat and raise
    ** UBS raises Galp  GALP.LS  to "neutral" from "sell",
following the Portuguese oil and gas co's better-than-expected
drilling campaign in Namibia
    ** J.P. Morgan upgrades Dutch paints and coatings maker Akzo
Nobel  AKZO.AS  to "neutral" from "underweight" on resilient
performance and strong earnings growth in the first quarter
    ** Jefferies raises Randstad  RAND.AS  to "hold" from
"underperform" as the recruitment agency offers a balanced
risk/reward over the next 12 months, after its recent
underperformance 
    ** J.P. Morgan upgrades Finnish real estate developer Kojamo
 KOJAMO.HE  to "overweight" from "neutral" as the broker sees
limited risk to rental growth in its unregulated residential
portfolio

    
(*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 Antonis Triantafyllou and Philippe Leroy
Beaulieu)
 ((antonis.triantafyllou@tr.com ,
philippe.leroybeaulieu@thomsonreuters.com))