Top of the Street: Merlin Properties, ACS, Endeavour Mining, DHL

By Reuters News

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

** Jefferies upgrades Merlin Properties MRL.MC from "hold" to "buy", saying that headwinds are now priced in and the underlying data centre growth remains intact


INITIATIONS AND REINSTATEMENTS

** JPMorgan initiates its coverage on Spanish builder ACS ACS.MC with an "overweight" rating saying data centre fears "obscure a compelling growth and valuation story"

** RBC initiates its coverage on DSV DSV.CO and Kuehne + Nabel KNIN.S with "sector perform" ratings, saying the companies are high quality stocks with attractive total return profits, generating the bulk of their earnings in freight forwarding

** RBC also starts DHL DHLn.DE with an "outperform" rating, citing forecasts ahead of consensus driven by DHL Express and better that it expected volume outlook despite deglobalisation concerns

** Goldman Sachs initiates coverage on Endeavour Mining PLC EDV.L with a "buy" rating, saying gold has remained resilient despite real-rate backdrop and adding the stock offers strongest organic growth and FCF yield combination

(*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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.