Top of the Street: Wacker Chemie, Air Liquide, RS Group
05/09/2024 11:26
A round-up of notable broker activity this morning from Europe's top-ranked*
analysts:
** Morgan Stanley raises Wacker Chemie WCHG.DE to "overweight" from
"equal-weight" saying the German chemical company's earnings quality is
improving thanks to its shift towards more stable, premium products in
polysilicon and silicones
** MS cuts French industrial gases supplier Air Liquide AIRP.PA to
"underweight" from "equal-weight" seeing a cyclical slowdown in the traditional
customer base of refining, chemicals and metals/steel, and says the higher
pricing power in the industrial merchant markets seems to have been played out
** Citigroup raises London-based industrial product distributor and service
provider RS Group RS1R.L to "buy" from "neutral" citing the new management's
growth investment and repositioning efforts
(*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 Rafal Wojciech Nowak and Paolo Laudani)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))