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Barclays

June 4, 2026

European Morning Research Summary

Market ReportEquitiesMaterialsIndustrials

Barclays provides a summary of European equity research updates including rating changes for Rosebank Industries and target price hikes for Zegona Communications. Key themes include resilient consumer demand in beauty and logistics outsourcing growth for DHL.

Key Takeaways

  • 1.Rosebank Industries PLC has been upgraded from Rating Suspended to Overweight with a new Price Target of 4.75.
  • 2.Zegona Communications price target raised to £25 following a return to positive revenue growth and inflationary pricing expectations.
  • 3.Haleon is shifting focus towards US volume growth to demonstrate its ability to deliver consistent 4-6% organic sales growth (OSG).

Table of Contents

  • Summary of Changes
  • Company Research
  • Industry Research
  • Basic Industries
  • European Chemicals & Ingredients
  • Consumer
  • European Consumer Staples
  • Financial Services
  • European Banks
  • Healthcare
  • European Pharmaceuticals, Biotechnology & Life Sciences
  • Industrials
  • European Transportation
  • UK Housebuilding & Construction
  • UK Capital Goods
  • European Construction & Building Materials
  • Power & Utilities
  • Retail
  • European General Retail
  • European Leisure
  • Telecommunications
  • Analyst(s) Certification(s)
  • Important Disclosures

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Authors

Warren AckermanFlora Bocahut

Securities

ROSE.LZEG LNITX SMDHLn.DEHLN.L

Themes

Corporate Self-Help and Margin ExpansionResilience in Premium Beauty vs StaplesMiddle East Tourism Recovery

Regions

EuropeMiddle EastNorth AmericaUnited KingdomGermanyFrance