Berenberg backs European online platforms on 'highly attractive' growth
BUZZ-Berenberg backs European online platforms on 'highly attractive' growth ** Berenberg says European online investment platforms boast a highly attractive sustainable growth outlook driven by structural trends
** The broker notes platforms are "sitting at the apex of several layers" as politicians create incentives to drive higher retail participation in equity markets
** Due to this favourable backdrop the brokerage upgrades Nordnet SAVE.ST to "buy" from "hold"
** It raises its PT for the Nordic platform by 25% to SEK 400 as sector valuations have returned to their long-term average
** Berenberg reiterates "buy" rating on peers flatexDEGIRO FTKn.DE and FinecoBank Banca Fineco FBK.MI while maintaining "hold" on Avanza AVANZ.ST and Swissquote SQN.S
COMPANY | NEW RATING | OLD RATING | NEW PT | OLD PT |
|---|---|---|---|---|
flatexDEGIRO SE | buy | buy | EUR 48.00 | EUR 45.00 |
Nordnet AB | buy | hold | SEK 400.00 | SEK 320.00 |
FinecoBank Banca Fineco SpA | buy | buy | EUR 27.00 | EUR 26.50 |
Avanza Bank Holding AB | hold | hold | SEK 380.00 | SEK 380.00 |
Swissquote Group Holding AG | hold | hold | CHF 43.50 | CHF 258.00 |
(Reporting by Marta Frackowiak)
((marta.frackowiak@thomsonreuters.com))
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