Top of the Street: Aker BP, TotalEnergies and Glencore

By Reuters News

A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** DNB Carnegie cuts Norwegian oil and gas producer Aker BP AKRBP.OL to "hold" from "buy", as it sees few near-term catalysts and expects Q3 production to slightly disappoint the market

** HSBC upgrades French energy major TotalEnergies TTEF.PA to "buy" from "hold", saying the company's valuation premium to rival Shell SHEL.L has disappeared while buybacks could be raised

** UBS raises British commodities trader Glencore GLEN.L to "buy" from "neutral", saying the stock's risk/reward is now attractive and expecting higher prices to result in a material EBITDA improvement in H2 and next year

(*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.)

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