Top of the Street: H&M, DSV, Genus, Beazly, Alfa Laval, Sectra

SECTRA AB

31/03/2023 12:38

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** HSBC raises H&M  HMb.ST  to "hold" from "reduce"
following the Swedish fashion retailer's better-than-expected Q1
numbers, pointing to a reduced operating risk and improvement in
supply chains
    ** J.P.Morgan cuts DSV  DSV.CO  to "neutral" from "buy",
expecting more moderate growth for the Danish logistics company
compared to its rivals
    ** Stifel ups Genus  GNS.L  to "buy" from "hold", pointing
to a "surprisingly strong performance" of the British animal
protein provider in the H1 of 2023
    ** UBS upgrades British insurer Beazley  BEZG.L  to "buy"
from "sell", noting robust reserve buffers and high capital
surplus
    
    INITIATIONS AND REINSTATEMENTS
    ** HSBC initiates Alfa Laval  ALFA.ST  with "buy", seeing
benefits for the Swedish engineering group from high demand for
its heat pumps
    ** Stifel starts coverage of Sectra  SECTb.ST  with "sell",
calling the stock of the Swedish technology firm "far too
expensive" as it trades at its largest premium ever vs broader
market
    
(*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 Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))