Top of the Street: Sika, Haleon, Anglo American, VAT Group

VAT AG

06/08/2024 12:35

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Stifel raises Swiss chemicals maker Sika  SIKA.S  to
"buy" from "hold" after it increased its PT to CHF 270, which
implies an upside of 11%, following the recent share price drop 
    ** Goldman Sachs cuts consumer healthcare company Haleon
 HLN.L  to "neutral" from "buy", as it sees limited catalysts to
drive near term price performance, with Pfizer's 22.6% remaining
holding an overhang in the short term 
    ** Panmure Liberum cuts British miner Anglo American  AAL.L 
to "sell" from "hold" as it says the industry is now loss
making, prompting an early start to 2024's destock, inflating
the industry's ore and scrap surpluses
    ** RBC raises Swiss industrial valves maker Vat Group
 VACN.S  to "sector perform" from "underperform" , saying it
remains overall confident on the World Federation Exchanges(WFE)
market outlook and the company's role within as the radical
market correction made it revisit the investment case
    ** Jefferies cuts Sweden's Orphan Biovitrum  SOBIV.ST  to
"hold" from "buy", citing increasing competition pressure for
the Swedish drug maker
    ** Deutsche Bank raises British asset manager Intermediate
Capital Group  ICGIN.L  to "buy" from "hold", citing a 29%
upside from the current share price to its unchanged PT and a FY
2025 dividend yield of about 4% 
    
    INITIATIONS AND REINSTATEMENTS
    ** Morgan Stanley resumes coverage of Spanish utility
Naturgy  NTGY.MC  with "equal-weight" rating, citing improving
fundamentals, but it flags low liquidity
    
    
(*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.)


($1 = 0.7868 pounds)
    
($1 = 0.8542 Swiss francs)
    
($1 = 10.5790 Swedish crowns)

 (Reporting by Jakub Olesiuk and Paolo Laudani)
 ((jakub.olesiuk@thomsonreuters.com
paolo.laudani@thomsonreuters.com))