Top of the Street: Schneider Electric, Lufthansa, Rightmove

Svenska Cellulosa Aktiebolaget SCA

05/11/2024 11:27

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Berenberg cuts Schneider Electric  SCHN.PA  to "hold"
from "buy", as it considers Monday's change of CEO at the French
industrial group as an "unwelcome surprise"
    ** Morgan Stanley raises Deutsche Lufthansa  LHAG.DE  to
"equal weight" from "underweight", saying the German airline's
shares have likely bottomed out
    ** J.P.Morgan upgrades UK water utilities Severn Trent
 SVT.L  and Pennon  PNN.L  to "overweight" from "neutral",
expecting "significant improvements" in regulatory allowances
    ** The broker ups Svenska Cellulosa  SCAb.ST  to "neutral"
from "underweight", citing a "more reasonable valuation" of the
Swedish forestry group's stock after the recent weakness
    
    INITIATIONS AND REINSTATEMENTS
    ** Morgan Stanley resumes Rightmove  RMV.L  at "equal
weight", citing the UK property advertising manager's strong
prospects, reduced risks

    
(*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 and Mateusz Rabiega)
 ((boleslaw.lasocki@thomsonreuters.com))