Top of the Street: UCB, Moncler, Sonova, Moncler, Voestalpine

Voestalpine AG

21/08/2024 15:09

A round-up of notable broker activity this morning from Europe's
top-ranked* analysts:
    
    ** JP Morgan raises UCB  UCB.BR  to "overweight" from
"neutral" as it sees the Belgian biotech firm's "superior growth
profile" as "significantly" undervalued by the market; cites
expected acceleration in Bimzelx growth
    ** Morgan Stanley downgrades Sonova  SOON.S  to
"underweight" from "equal-weight", flagging the hearing aid
maker's EV/EBITA valuation has hit an all time high vs Demant
 DEMANT.CO  and other peers
    ** Morgan Stanley upgrades Austrian specialty steelmaker
Voestalpine  VOES.VI  to "overweight" from "equal-weight",
citing its resilient business model through the down-cycle
    ** Bernstein upgrades Moncler  MONC.MI  to "outperform" from
"market-perform", citing the Italian luxury group's strong sales
growth potential for winter 2024
    ** Jefferies raises specialty chemicals maker Victrex
 VCTX.L  to "hold" from "underperform", saying the stock is
trading at noticeable discounts to UK peers vs historic premiums
    
(*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 Augustin Turpin and Mateusz Dobrzyniewski)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))