BUZZ — Berenberg ups NKT on upcoming medium — term catalysts

* Berenberg upgrades Danish power cable maker NKT to "buy" from "hold" and raises its PT by 35% to DKK 1,110 ($166.64), as it expects capacity expansion to drive a sharp increase in earnings and free cash flow from 2027 * As investments normalise, incremental operational expenses are absorbed, and the execution of higher-margin projects from the backlog should support reintroduction of a dividend, potentially as early as 2028, the broker says * A recent factory tour highlighted the "deep moat that NKT enjoys as a turnkey subsea cable systems provider", pointing to a strong competitive advantage, Berenberg notes * The brokerage sees potential for management to upgrade medium-term earnings targets, estimating 2030 operational earnings at €995 million ($1.1 billion), to avoid an implied slowdown * Eight out of 14 analysts covering the stock rate it "strong buy" or "buy," four "hold" and two "sell" - LSEG data ($1 = 0.8913 euros) ($1 = 6.6610 Danish crowns) (Reporting by Vera Dvorakova) ((vera.dvorakova@thomsonreuters.com)