Top of the Street: Travis Perkins, Verbund, ABN Amro

VERBUND AG

16/05/2024 12:48

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** Barclays raises Travis Perkins  TPK.L  to "overweight"
from "equal-weight" as it expects Britain's largest supplier of
building materials to benefit from the anticipated rate cuts in
the UK, which should drive both higher new build demand and
higher home improvement demand
    ** Exane BNP Paribas cuts Dutch bank ABN Amro  ABNd.AS  to
"underperform" from "neutral" on continued weak capital build,
dragged by higher risk-weighted assets
    ** Citigroup cuts Verbund  VERB.VI  to "sell" from "neutral"
as it says the Austrian utility's investors will face another
three years of downward earnings cycle until the company reaches
trough earnings
    ** Deutsche Bank downgrades British soft drinks company
Britvic  BVIC.L  to "hold" from "buy"
    
    INITIATIONS AND REINSTATEMENTS
    ** Bernstein initiates French hygiene group Elis  ELIS.PA 
with "outperform", citing its "robust" revenue growth in 2024,
productivity efforts to support EBITDA margin expansion, M&A and
shareholder return prospects
    ** Berenberg starts French market research firm Ipsos
 ISOS.PA  with "buy", saying the French research company is
undervalued and ideally positioned to strengthen its leadership
in the sector
    
(*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 Mateusz Dobrzyniewski)
 ((Mateusz.dobrzyniewski@thomsonreuters.com))