Top of the Street: Norsk Hydro, Boliden, Tomra System, D'Ieteren

Tomra Systems ASA

02/03/2023 13:12

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    INITIATIONS AND REINSTATEMENTS
    ** Credit Suisse initiates coverage on European base metal
producer Norsk Hydro  NHY.OL  with "outperform" for potential
valuation upside in its new businesses, adding depressed
aluminium prices provide an "attractive entry point"
    ** The brokerage also starts the coverage on Boliden
 BOL.ST  with "underperform" as it sees operational headwinds in
2023-24 and depressed commodity price forecasts leaving the
company with "marginal" free cash flow in 2023
    ** Barclays initiates Tomra Systems  TOM.OL  with
"overweight" as it expects the Norwegian sustainable technology
firm to be the highest-growing European capital goods company
over the next few years
    ** The broker starts D'Ieteren  IETB.BR  with "overweight"
and considers the Belgian car distributor a beneficiary of the
advanced driver assistance system (ADAS) trend due to its 50.01%
stake in Belron
    
(*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 Matteo Allievi and Clement Martinot)
 ((Matteo.allievi@thomsonreuters.com))