Top of the Street: Castellum, Terna, Trelleborg

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

Goldman Sachs ups Swedish real estate company Castellum CAST.ST to "buy" from "neutral", on improving Swedish macro conditions and a corporate restructuring

INITIATIONS AND REINSTATEMENTS

Jefferies initiates coverage on Italy's power grid operator Terna TRN.MI with "hold" rating on a stretched valuation and a balance sheet with limited headroom, despite a strong grid investment outlook

J.P. Morgan starts Swedish company Trelleborg TRELb.ST with "overweight" rating, seeing the polymer engineering company set to benefit from higher and sustained growth, with the major transformation of the company's portfolio complete

(*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.)