Top of the Street: Arkema, BASF, Sodexo, Unicredit, Commerzbank

Sodexo SA

27/03/2025 13:44

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** J.P. Morgan cuts French chemicals firm Arkema AKE.PA to "underweight" from "neutral" on a cloudier outlook from the potential impact of tariffs

** J.P. Morgan cuts Germany's top chemical maker BASF BASFn.DE to "underweight" from "neutral", citing recent weak U.S. macro indicators, elevated demand uncertainty from trade tariffs and the continued weak margin in most commodity chemical segments

** Barclays cuts French caterer Sodexo EXHO.PA to "equal-weight" from "overweight", citing lack of confidence for the story's turnaround after last week's profit warning

INITIATIONS AND REINSTATEMENTS

** GS reinstates Unicredit CRDI.MI with "buy" and Commerzbank CBKG.DE with "neutral" as both banks are well positioned both geographically and in terms of business mix to capitalise on higher growth outlook in Germany and neighbouring economies

(*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 Amir Orusov and Joao Manuel Mauricio)

 ((Amir.orusov@thomsonreuters.com))