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VACN - VAT AG News Story

CHF260.8 7.2  2.8%

Last Trade - 07/05/21

Large Cap
Market Cap £6.21bn
Enterprise Value £6.32bn
Revenue £550.0m
Position in Universe 148th / 1050

BUZZ-Top of the Street: Ahold Delhaize, Morrisons, Handelsbanken, VAT Group

Wed 16th September, 2020 2:13pm
A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    ** JP Morgan upgrades Dutch retailer Ahold Delhaize  AD.AS 
to "neutral" from "underweight", citing grocery momentum in the
U.S., where the group made 60% of revenues last year*:nL8N2GD1PG
    ** JPM also raises VAT Group  VACN.S  to "neutral" from
"underweight" saying over-enthusiasm for the stock has ebbed and
adds that prices for NAND and DRAM chips have stabilised or
improved, which will be positive for VAT given its high memory
    ** However, it downgrades Britain's fourth-largest
supermarket group Morrisons  MRW.L  to "underweight" from
"neutral", citing slower momentum, which could affect its
capital returns*:nL4N2GD1W0
    ** Credit Suisse upgrades Weir Group  WEIR.L  to
"outperform" from "neutral", citing supportive mining trends and
attractive risk/reward
    ** Jefferies cuts Unite Group  UTG.L  to "hold" from "buy"
on valuation grounds with its now limited upside to price target
and relatively higher occupancy risk to second COVID-19 wave
    ** It upgrades BHP Group  BHPB.L  to "buy" from "hold" as it
now prefers the company over Rio Tinto  RIO.AX  amid risks
following events related to Rio's destruction of the Juukan
Gorge rock shelters*:nL4N2GD0YU
    ** Jefferies upgrades Bae Systems  BAES.L  to buy from
"hold" but cuts its price target to 600p from 615p, sees 
company as strongly  positioned,  with  lower  defence  spending
 merely offsetting  probable  future  growth  from  the  Qatar 
Typhoon  and  Australia's  SEA  5000 programmes
    ** Morgan Stanley upgrades Handelsbanken  SHBa.ST  to
"overweight" from "underweight" pointing to the bank's 20% P/E
discount to peers and "superior profitability" going forward*:nL8N2GD1K6

(*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.)

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