Top of the Street: Admiral Group, United Utilities, Biomerieux
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Jefferies raises Admiral Group ADML.L to "hold" from "underperform" after the British financial services company exceeded expectations for growth and margin in the first half
** UBS upgrades United Utilities UU.L to "buy" from "neutral" saying the UK water company is trading close to post-2010 multiple lows, while the financial framework that will be provided in early 2025 should support a sustainable dividend
INITIATIONS AND REINSTATEMENTS
** UBS initiates French biotech company Biomerieux BIOX.PA with a "buy" rating, seeing this as "a compelling entry point for the best R&D story in European Medtech"
(*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 Antonis Pothitos and Olivier Sorgho
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