Top of the Street: Orange, Rotork, Verbund, Rational, food delivery
16/01/2023 13:24
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** Jefferies cuts France's largest telco Orange ORAN.PA to
"hold" from "buy" on weaker 2023 growth prospects and concerns
over the new CEO's capital allocation priorities
** RBC downgrades British industrial group Rotork ROR.L to
"sector perform" from "outperform", seeing reduced relative
upside as the shares have outperformed peers covered by RBC by
about 10% over the past 10 months
** Credit Suisse upgrades Austrian hydropower producer
Verbund VERB.VI to "neutral" from "underperform", saying the
stock trades at a discount vs sector for the first time since
2007
** HSBC notes limited further upside for Rational RAAG.DE
and downgrades the stock from "buy" to "hold" after its
re-rating in the first two weeks of 2023 thanks to the German
cooking appliances producer's strong fundamentals and financial
solidity
** Exane BNP Paribas cuts HelloFresh HFGG.DE to "neutral"
from "outperform", saying "immediate story looks very unclear"
despite growth potential
** The broker also cuts Just Eat Takeaway TKWY.AS to
"neutral" from "outperform" on limited upside to its revised TP
(*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 Lina Golovnya and Linda Pasquini)
((lina.golovnya@tr.com))