Top of the Street: Adidas, Scor, Prysmian
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Telsey Advisory Group upgrades Adidas ADSGn.DE to "outperform" from "market perform", saying Q2 results showed "better-than-anticipated underlying brand strength" and strong demand for its footwear
** Morgan Stanley cuts Scor SCOR.PA to "equal-weight" from "overweight" after what it calls a "disappointing" profit warning from the French reinsurer
INITIATIONS AND REINSTATEMENTS
** Goldman Sachs reinstates Prysmian with "buy", expecting the Italian cable maker to benefit from structural improvements in the U.S. low voltage market and its exposure to 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 Isabel Demetz and Romolo Tosiani
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