UBS has downgraded Nike Inc (NYSE:NKE) after the sportswear giant's worrying update last week, with the Swiss bank seeing "no quick rebound" in store.
The Oregon-based sneaker maker is embarking on what will be a multiyear reset of its business in order to return to healthy top-line growth rates, the bank told clients, seeing the risk of management providing further "guidedowns" in coming months.
Rentokil Initial PLC (LSE:RTO) is no longer on UBS’s sell list, which has said it is easing up on its negative view of the acquisition of US group Terminix.
“We have been Sell-rated on Rentokil throughout the entirety of the Terminix integration, and continue to see risks to achieving mid-term targets as the NA Pest business transitions towards an unproven 'large branch' model.
Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) royalty and equity investment in Rainbow Rare Earths looks like a sensible and attractive move says Berenebrg, which calculates that for the US$8.5 million cost, the NPV is US$13 million and rate of return around 11%.
Berenberg adds that Ecora "has the financial flexibility to complete the deal, and we think this is opportunistic and accretive, but the market will, we think, continue to focus on the near-term revenue profile".
UBS has upgraded Birkenstock Holding PLC (NYSE:BIRK) to a "buy" rating, citing three key improvements for the change.
First, the expansion strategy for the sandal-maker's direct-to-consumer (DTC) offering has outperformed expectations, driving significant growth.
ATOME PLC (AIM:ATOM) has had a 200p price target reiterated by broker Liberum following its latest update.
Highlights of the first half of the year so far are the US$2.5 million placing in February/March 2024 and the new shareholder facility in place, completion of the FEED Study, EPC partners appointed and talks on terms for the offtake of all production from the Villeta project.
The Diageo PLC (LSE:DGE) whisky brand Crown Royal, the company's largest in the US, has experienced a recent slowdown and it could be a worrying "inflection point" for the group.
Analysts at Jefferies noted that NielsenIQ data indicates fading demand for Crown Royal as the influence of its blackberry variant launched in March dissipates.
The backdrop for stock markets right now is "as good as it gets" and potential problems lie ahead for the coming summer months, JPMorgan has warned.
June saw the S&P 500 gain over 3%, hitting new all-time highs, up 15% since the start of the year.
Referring to NatWest Group PLC (LSE:NWG)'s simplification plans under new CEO Paul Thwaite, investment bank Keefe Bruyette & Woods (KBW) concluded that "executing this dream may prove more difficult than the spreadsheet suggests".
During a presentation to KBW's sales force, NatWest emphasised its transition from extensive restructuring to focusing on routine business operations.
Keefe Bruyette & Woods (KBW) remains a fan of Lloyds Banking Group PLC (LSE:LLOY) after taking a closer look at the business banking arm, which contributes about 15% of the group's earnings.
This follows a seminar where Lloyds showcased its strategies for digitisation and diversification, drawing favourable comparisons to Barclays' offerings for small and medium-sized enterprises (SMEs) and mid-sized companies.
Tesco and Sainsbury are coming under pressure from a resurgent Morrisons, according to an analysis of the grocery sector’s latest numbers by JP Morgan.
Morrisons’ improving shape is driven by better execution and self-help, says the US bank.
Raspberry Pi (LSE:RPI), the DIY computer-making group, has seen its shares shorted by JP Morgan just weeks after its IPO in London was hailed as a boost to the flagging stock exchange.
JP Morgan's asset management division has built a short position equal to 0.51% of Raspberry Pi (LSE:RPI)'s entire share capital, a disclosure to the FCA revealed.
Anglo American PLC (LSE:AAL) shares dropped more than 3% this morning, making it the top FTSE 100 faller after its coal mine in Queensland, Australia suffered a fire.
Production at its Grosvenor mine, which produces coal to make steel, was halted over the weekend after the fire, leaving question marks over whether the group can still quickly offload the asset as part of its recovery plan.
French stocks leapt higher after the first round of voting in French elections placed the far-right National Rally (RN) in the lead, but not giving the party in as strong a position as polls had suggested.
The decisive second round of voting takes place next Sunday, July 7.