Top of the Street: Alfa Laval, Wartsila, Subsea 7
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Morgan Stanley downgrades Swedish engineering group Alfa Laval ALFA.ST to "underweight" from "equal-weight" seeing organic order growth turning negative in 2025 due to weak tanker orders
** At the same time, the broker ups peer Finnish engineering group Wartsila WRT1V.HE to "equal-weight" from "underweight" expecting organic revenue growth above the sector average in 2025-26 with orders growing by 3.5% in 2025
** Morgan Stanley also upgrades Subsea 7 SUBC.OL to "overweight" from "equal weight" seeing an attractive entry point at the moment and noting that the Norwegian offshore provider has stood out as a quality name to navigate the recurring crises in the sector with a strong balance sheet
** Goldman Sachs raises German engine manufacturer MTU Aero Engines MTXGn.DE to "buy" seeing "a firm path for growing returns" that is currently undervalued by the market
(*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 Elviira Luoma
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