Top of the Street: Thyssenkrupp, Aveva, SOBI, Ipsen, Thule
28/09/2022 12:11
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
** UBS downgrades Aveva Group AVV.L to "neutral" from
"buy", saying Schneider Electric's SCHN.PA takeover of the
British software company offers a premium for control, but some
minority investors might expect more
INITIATIONS AND REINSTATEMENTS
** RBC initiates drugmaker Swedish Orphan Biovitrum
SOBIV.ST with "sector perform", saying three recently launched
drugs are set to offset challenges in its haemophilia franchise
** It also initiates coverage on Ipsen IPN.PA with "sector
perform", saying the French biopharmaceutical company is now
"challenged to deliver growth" beyond its oncology drug
Somatuline
** Jefferies initiates Thule Group THULE.ST with "hold" as
the Swedish outdoor leisure equipment maker expects reduced
sales and profitability until the next biking season in the
spring of 2023
** J.P.Morgan reinstates coverage of German conglomerate
Thyssenkrupp TKAG.DE with "underweight", saying the stock
trades at an "unjustifiable" premium to peers given its high
exposure to automotive and consequent near-term risk to shipment
volumes and/or prices
(*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 Ina Kreutz and Marta Serafinko)
((ina.kreutz@thomsonreuters.com))