Top of the Street: Commerzbank, savings platforms, stock exchanges
BUZZ-Top of the Street: Commerzbank, savings platforms, stock exchanges A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Deutsche Bank cuts German lender Commerzbank CBKG.DE to "hold" from "buy", saying key catalysts such as rising net interest income, high capital returns and improving sentiment in Germany are largely priced in
INITIATIONS AND REINSTATEMENTS
** Deutsche Bank initiates Swedish digital bank Avanza AVANZ.ST at "buy" as its preferred pick to tap into Nordic savings market growth, while starting peer Nordnet SAVE.ST at "hold"
** J.P. Morgan resumes coverage of European savings platforms, recommending "overweight" for Nordnet SAVE.ST, FinecoBank FBK.MI and Banca Mediolanum BMED.MI, based on the Nordic region's stability and Italy's limited competition and a benign regulatory environment
** JPM also resumes stock exchange operators LSEG LSEG.L and Deutsche Boerse DB1Gn.DE with "overweight"
(*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 Marta Maciag, Ronan Corcoran and Olivier Cherfan)
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