Top of the Street: Kion, Hikma Pharmaceuticals, Ipsen, Auto Trader, Randstad, Saab

Saab AB

08/09/2026 12:05

Sep 8 - A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Citigroup ups German forklift provider Kion KGX.DE to "buy" from "neutral", citing a potential inflection in the industrial truck cycle
** Barclays  hikes Hikma Pharmaceuticals HIK.L to "equal-weight" from "underweight", as its execution shortfalls and downgrade cycle are seemingly over but says visibility stays poor while key management positions are unfilled
** Barclays cuts Ipsen IPN.PA to "underweight", saying its strong 2026 delivery increasingly looks like a peak with potential competition adding pricing pressure to the high-margin Somatuline franchise
** Jefferies ups UK vehicle marketplace Auto Trader AUTOA.L to "buy" from "hold", stating the company will "lead the sector into the Agentic Future" of AI
** Degroof Petercam cuts Dutch staffing firm Randstad RAND.AS to "hold" from "buy", noting the stock is no longer at a valuation discount after a stellar share rally since April
INITIATIONS AND REINSTATEMENTS
** AlphaValue starts Swedish defence prime Saab SAABb.ST "reduce", noting that despite a balanced portfolio, it remains a "great business at a demanding price" with heavy execution risk and limited political reach compared to larger prime peers
     
(*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 Athina Karolidou and Mathias de Rozario in Gdansk)
((Athina.Karolidou@thomsonreuters.com))