European equities: today's published research skews structurally bullish on single names, with only a narrow tactical caution around the German market at the open.
Researchers argue the DAX is set to open below 26,500, blaming softer US and Asian sessions overnight, higher oil, and geopolitical tension. That's framed as an intraday call, not a longer-term view.
Zooming out, one camp of analysts lays out a multi-year constructive case across several European names. The thesis on Rheinmetall leans on sustained European rearmament, with ambitions to multiply sales several times over. TotalEnergies is pitched as a diversified energy play spanning exploration, LNG, and renewables that will "look remarkably different" in 5–10 years. Polish retailer LPP is highlighted for aggressive store expansion and AI-driven logistics, while Piraeus Bank is tied to Greece's recovery and banking consolidation.
On UK names, the published view is uniformly positive on turnaround and undervalued franchise stories including M&S, AstraZeneca, and Babcock.
The one notable sell: recently published views exit LVMH, citing structural uncertainty in luxury demand and organisational instability.