BUZZ — Top of the Street: Nestle, Siemens, Johnson Matthey, Bouygues
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: * J.P. Morgan upgrades Swiss food and drinks group Nestle to "overweight" from "neutral", saying that "FY27 is shaping up as a vintage year" as the broker expects sales volumes and margins to bounce back * Jefferies cuts German engineering group Siemens to "hold" from "buy", warning that its strong backlog visibility is increasingly priced in after recent share outperformance Initiations And Reinstatements * Citigroup renews coverage on UK chemicals company Johnson Matthey with a "buy" rating, noting the recent portfolio reset has created a "simpler group with a clearer path to earnings growth and cash returns" * UBS initiates coverage on French conglomerate Bouygues with a "buy" rating, saying that the recent pullback in the stock provides a "compelling buying opportunity" given the upside in data centres (*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 Rafal Nowak and Corcoran Ronan in Gda
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: * J.P.
Morgan upgrades Swiss food and drinks group Nestle to "overweight" from "neutral", saying that "FY27 is shaping up as a vintage year" as the broker expects sales volumes and margins to bounce back * Jefferies cuts German engineering group Siemens to "hold" from "buy", warning that its strong backlog visibility is increasingly priced in after recent share outperformance Initiations And Reinstatements * Citigroup renews coverage on UK chemicals company Johnson Matthey with a "buy" rating, noting the recent portfolio reset has created a "simpler group with a clearer path to earnings growth and cash returns" * UBS initiates coverage on French conglomerate Bouygues with a "buy" rating, saying that the recent pullback in the stock provides a "compelling buying opportunity" given the upside in data centres (*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 Rafal Nowak and Corcoran Ronan in Gdansk) ((mailto:RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;)