Top of the Street: Kering, Hays, B&M, Nordic mining tools makers
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** BofA cuts French luxury goods company Kering PRTP.PA to "neutral" from "buy", pointing to weak demand from China and predicting muted revenue growth for the sector through 2025
** Exane BNP Paribas cuts UK recruitment firm Hays HAYS.L to "underperform" from "neutral" citing the lack of improvement in market conditions through Q3 and structural challenges for the business beyond cyclical momentum
INITIATIONS AND REINSTATEMENTS
** Jefferies says it expects mining equipment makers to enter an aftermarket-driven upcycle on the back of higher production, as it initiates coverage of three Nordic companies
** It starts FLSmidth FLS.CO with "buy", saying the Danish group could be the first 100% pure play in the mining equipment sector with the possible disposal of its cement division
** It initiates Sweden's Epiroc EPIRa.ST with "buy" as cyclical headwinds reverse in the high-margin aftermarket segment
** It initiates Metso METSO.HE at "hold", saying softening top-line impacts the Finnish company's ability to expand margins with ongoing working capital headwinds
** UBS initiates British discount chain B&M BMEB.L at "sell", saying its price gap vs Tesco TSCO.L and Sainsbury SBRY.L has narrowed to the lowest level since at least 2016, raising concerns of its mid-term competitiveness especially in the fast-moving consumer goods (FMCG) segment
(*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 Ozan Ergenay and Elviira Luoma
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
