Top of the Street: ABN Amro, Adecco, ASML, Redeia
22/09/2025 12:39
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Morgan Stanley upgrades Dutch bank ABN Amro ABNd.AS to "overweight" from "equal-weight," as restructuring opens room to lift profitability ** The broker also raises Dutch semiconductor equipment maker ASML ASML.AS to "overweight" from "equal-weight" seeing an end to negative earnings revisions and early signs of improvement ** Bernstein downgrades Spanish electricity grid operator Redeia REDE.MC to "market-perform" from "outperform," citing higher work-in-progress and project approval delays ** Bernstein raises Swiss staffing company Adecco Group ADEN.S to "outperform" from "market-perform," seeing a better risk/reward as the debate on revenue and EBITDA could shift to upside rather than downside (*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 Marta Serafinko in Gdansk) ((Marta.Serafinko@thomsonreuters.com))