Top of the Street: Ubisoft, Swiss insurers

Swiss Life Holding AG

27/09/2024 12:56

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** HSBC downgrades French video game maker Ubisoft  UBIP.PA 
to "hold" from "buy" and cuts PT by 66% to EUR 10.8, citing
Wednesday's profit warning and execution risks, and says there
remain risks to earnings in the near term
    
    INITIATIONS AND REINSTATEMENTS
    ** Deutsche Bank initiates Baloise  BALN.S  with "buy",
Helvetia  HSPF.S  with "hold" and Swiss Life  SLHN.S  with
"hold", saying there are enough merits to support their
valuations, as the Swiss insurers are defensive with strong
balance sheets, and well positioned in the transition to
capital-light business
    ** It names Baloise as its top pick
    
    
(*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 Jagoda Darlak and Olivier Cherfan in Gdansk)
 ((jagoda.darlak@tr.com; olivier.cherfan@tr.com))