Top of the Street: Games Workshop, Tele2, CVC Capital Partners, Wienerberger

Wienerberger AG

23/05/2025 11:41

May 20 - A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** Peel Hunt downgrades Games Workshop GAW.L to "add" from "buy" as it expects tariffs to cost the games manufacturer around 10 million pounds ($13.5 million), though the impact will likely be reduced over time

** Kepler Cheuvreux downgrades Swedish telecoms company Tele2 TEL2b.ST to "hold" from "buy" citing a limited upside after strong share performance

** BofA Global Research upgrades CVC Capital Partners CVC.AS to "buy" from "neutral" following share underperformance and flags EPS upside if "tariff risks have peaked and exits return quicker"

INITIATIONS AND REINSTATEMENTS

** Barclays initiates Wienerberger WBSV.VI at "overweight" saying interest in European residential sector is gradually returning after being "deeply depressed", with the Austrian company offering highest exposure and operating leverage in European building products

(*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 = 0.7411 pounds)

 (Reporting by Marta Serafinko and Marleen Kaesebier)