BUZZ-Top of the Street: IMI, Roche, Beazley, Coloplast
A round-up of notable broker activity this morning from Europe's top-ranked* analysts:
** Jefferies upgrades IMI (LSE: IMI.L - news) to "buy" on attractive valuation due to recent share price underperformance; broker says sentiment towards co is overly negative at present and will unwind as management delivers in-line performance or better through the year
** Bernstein downgrades Swiss drugmaker Roche to "market-perform", saying consensus estimates are too high and biosimilar headwinds are likely to strengthen
** Numis cuts Beazley (LSE: BEZ.L - news) to "hold" on the back of recent strength in stock price after the company reported Q1 in line with brokerage forecasts
** Berenberg raises Coloplast (LSE: 0QBO.L - news) to "hold" saying that co is now poised to take further market share over the coming years, delivering defensive top-line growth and perhaps even a little operational leverage
(*Analyst rankings from Thomson Reuters StarMine. Scale is from 1-star to 5-star with 5 being best. Analysts ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.)