Top of the Street: Philips, ABB, VAT Group

VAT AG

29/10/2024 12:55

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
   
    ** Jefferies raises Philips  PHG.AS  to "hold" from
"underperform", saying the Dutch medical devices maker's
risk/reward profile is more balanced and the valuation reflects
more adequately short-term challenges after the stock plunged on
Monday
    ** Goldman Sachs cuts ABB Ltd  ABBN.S  to "neutral" from
"buy", seeing the stock as no longer underappreciated as it
trades at a 34% premium to the sector, against a 1% discount at
the time of the broker's previous rating
    ** Kepler Cheuvreux raises VAT Group AG  VACN.S  to "buy"
from "hold", citing a positive risk/reward balance with the
shares down around 30% from the peak in July, estimate cuts
likely nearing an end, and investors increasingly looking ahead
to 2025/26
    
(*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 Mathias de Rozario and Michal Aleksandrowicz)
 ((mathias.derozario@thomsonreuters.com))