Barclays raises Euronext to 'overweight', cites CEO transition, growth profile

By Reuters News

** Barclays upgrades European exchange operator Euronext ENX.PA to "overweight" from "equal weight," citing its growth profile and the incoming CEO as a catalyst for strategic refocus

** The brokerage expects the new leadership to prioritise organic growth across its strongest franchises, limit diversification into new areas and reassess capital allocation

** It says it now prefers Euronext over German peer Deutsche Boerse DB1Gn.DE, highlighting its fastest earnings-per-share growth across European exchanges driven by electronic bond platform MTS

** Barclays cuts Deutsche Boerse to "equal weight" from "overweight" as much of its near-term growth is priced in after a 50% share surge

** The broker lifts its price target (PT) for Euronext by 31% to €210 while leaving its PT for the German peer unchanged at €320

($1 = 0.9042 euros)

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