Top of the Street: Hexagon, Genmab, Adyen, EDP

RTL SA

12/12/2019 11:08

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** JP Morgan raises Solvay  SOLB.BR  to "overweight" from
"neutral", as the analysts believe its portfolio is above
average amongst the European diversified chemical companies in
terms of organic growth and margin profile, as well as earnings
resiliency  urn:newsml:reuters.com:*:nL8N28M0RA
    ** Deutsche Bank cuts Genmab  GMAB.CO  to "hold" from "buy",
saying its strong performance in 2019 means its pipeline is more
fairly valued and its price is already factoring in that the
company is able to deliver a valuable deal for its CD20xCD3
programme  urn:newsml:reuters.com:*:nL8N28M1HA
    ** Stifel downgrades Segro  SGRO.L  to "hold" from "buy". 
While the analysts expect the company to continue to deliver
financial results far ahead of the other large caps, they also
think the rate of NAV growth will moderate as the support from 
falling yields in Britain subsides
    ** RTL  RRTL.DE : HSBC upgrades the media group to "buy"
from "hold", raises target price to 51 euros from 50 euros
    ** Morgan Stanley raises Adyen  ADYEN.AS  to "overweight"
from "equal weight"; it also cuts Hexagon  HEXAb.ST  to "equal
weight" from "overweight"
    
    INITIATIONS AND REINSTATEMENTS
    ** SocGen reinstates EDP  EDP.LS  with "buy" (vs the
previous "hold" rating), saying the Portuguese utility looks
well on track to resume high earnings growth, cut leverage and
maintain an attractive dividend yield  urn:newsml:reuters.com:*:nL8N28M1DT
    
(*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.)


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