Top of the Street: Adecco, Antofagasta, Land Securities, Big Yellow Group, Tryg

Tryg A/S

12/11/2024 12:40

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Exane cuts HR services firm Adecco  ADEN.S  to "neutral"
from "outperform" saying it believes the company will have to
cut dividend based on its earnings decline
    ** Barclays upgrades copper miner Antofagasta  ANTO.L  to
"equal weight" from "underweight", as its shares remain at a
premium vs peers and the 2025 guidance risk seems behind it
    ** Jefferies raises British real estate company Land
Securities  LAND.L  to "hold" from "underperform", seeing a
strong upside scenario in the long term, with possibly less
pressure on consumer spending and UK retail sales
    ** Jefferies cuts British self-storage firm Big Yellow Group
 BYG.L  to "hold" from "buy", assuming tempered growth due to
economic and housing cycle headwinds
    ** Morgan Stanley downgrades Danish insurer Tryg  TRYG.CO 
to "equal weight" from "overweight" citing limited potential for
upside surprises ahead of its CMD in December

    
(*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 Isabel Demetz and Michela Stasio in Gdansk)
 ((Isabel.demetz@thomsonreuters.com))