Top of the Street: Anglo American, Boliden, Brenntag, Wacker Chemie
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Stifel raises German chemicals distributor Brenntag BNRGn.DE to "buy" from "hold" citing a potential upside to the stock price, and says it expects 2025 to be the second year of earnings recovery for the diversified chemicals sector
** J.P.Morgan cuts Anglo American AAL.L to "neutral" from "overweight" and Boliden BOL.ST to "underweight" from "neutral", as it flags a near-term downside risk for European metals and mining stocks from the U.S. presidential election
INITIATIONS AND REINSTATEMENTS
** Deutsche Bank initiates Wacker Chemie WCHG.DE with "buy" citing growth opportunities, and says silicones and polymers, two of Wacker's three main activities, are "good chemical businesses with established markets focused on premium products"
(*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 Clement Martinot and Matteo Allievi
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