Top of the Street: Telefonica, Demant, Sonova

Telefonica Deutschland Holding AG

21/04/2022 11:49

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    INITIATIONS AND REINSTATEMENTS
    ** Credit Suisse initiates the coverage of Telefonica
 TEF.MC  with "neutral", saying growth in Spain and leverage
headwinds drive preference for its listed units
    ** The brokerage assumes Telefonica Deutschland's  O2Dn.DE 
coverage with "outperform" on attractive growth outlook, scope
for lower capex than consensus expects  urn:newsml:reuters.com:*:nL5N2WJ1U5
    ** Jefferies initiates the coverage of Demant  DEMANT.CO 
with "buy", citing the Danish hearing aid maker's strengthened
competitive positioning in hearing  urn:newsml:reuters.com:*:nL5N2WJ1OM
    ** The brokerage also starts Swiss peer Sonova  SOON.S  with
"hold" as it sees it gain market share in the current cycle but
notes it is due to launch new products in H2

(*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 Juliette Portala and Jagoda Darlak)
 ((jagoda.darlak@tr.com ; juliette.portala@tr.com))