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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 engin
* UBS initiates coverage on French conglomerate Bouygues with a "buy" rating, seeing an "attractive upside" in data centres and a robust telecoms outlook * Broker believes the company's energy and services unit, Equans, is positioned to benefit from an anticipated acceleration in European data centre construction * Bro
UBS initiated coverage of Bouygues with a Buy rating.