Top of the Street: Royal Unibrew, Lotus, Inwit, Poste Italiane, Watches of Switzerland

Royal Unibrew A/S

15/05/2023 12:55

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Citi raises Royal Unibrew  RBREW.CO  to "neutral" from
"sell" saying the Danish brewer has now demonstrated it can
deliver against expectations following last year's profit
warnings, adding it sees no price rollback risk for European
brewers
    ** KBC Securities downgrades Belgian cookie maker Lotus
Bakeries  LOTB.BR  to "hold" from "accumulate", citing limited
near-term potential following recent strong stock performance on
the back of expansion projects
    ** UBS cuts Italian mobile tower company Inwit  INWT.MI  to
"neutral" from "buy", saying the stock is "fairly valued" after
nearing historical highs and noting a limited upside to its
target price of 12.60 euros
    ** HSBC cuts Poste Italiane  PST.MI  to "hold" from "buy" as
it believes the stock has lost its appeal due to a slowdown in
the Italian postal operator's revenue trends, despite cost
cutting and sustainable dividend yield
    
    INITIATIONS AND REINSTATEMENTS
    ** RBC initiates coverage of Watches of Switzerland  WOSG.L 
with "outperform", saying the luxury watch retailer offers a
potential upside of around 40% from current stock price; it sees
the valuation as attractive relative to growth and the company's
market position as the UK agency of choice for Rolex
    
    
(*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 Anastasiia Kozlova and Michal Aleksandrowicz)
 ((Anastasiia.Kozlova@thomsonreuters.com;
Michal.Aleksandrowicz@thomsonreuters.com))