Top of the Street: Skanska, Ahold Delhaize, Next, Weir, Forsikring

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

Jefferies downgrades Sweden-based construction company Skanska SKAb.ST to "hold" from "buy" due to increased macro uncertainty, seeing a delayed recovery in the U.S. commercial and Nordic residential markets

Kepler Cheuvreux downgrades Dutch food retail group Ahold Delhaize AD.AS to "hold" from "buy" due to weakness of the U.S. dollar

Peel Hunt cuts UK retailer Next NXT.L to "hold" from "buy", stating that the company's shares are trading on a significant sector premium

UBS raises UK technology provider Weir WEIR.L to "buy" from "neutral", seeing the cost savings from the company's performance excellence program exceeding the current guidance, while also crediting Weir as well-protected in the event of a downturn following recent tariffs.

INITIATIONS AND REINSTATEMENTS

UBS initiates Norwegian general insurance provider Gjensidige Forsikring GJFG.OL with "neutral", saying the company has addressed claims inflation effectively, leading to positive market reactions, but notes that the recovery story is priced in

(*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.)