Report published August 25, 2026
RBC Capital Markets: UK & European Research at a Glance (August 25, 2026)
Source and citation context
- Issuer
- RBC Capital Markets
- Report date
- August 25, 2026
- Analysis as of
- Not stated in source
Authors / editors: Victoria McCulloch, CA (Analyst), Adnan Dhanani (Analyst), Matthew Russell (Associate), Piral Dadhania (Analyst), Nikolaos Lafioniatis (Analyst), Richard Chamberlain (Analyst), Alexander Wheeler (Analyst), Ziyad Jasimuddin (Associate), Fernando Garcia (Analyst), Charlotte Mettyear (Analyst), Joseph Pepper (Analyst), James Redfern (Analyst)
Finvaulta summarizes RBC Capital Markets's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
This RBC daily research summary highlights company and industry comments across UK and European equities for August 25, 2026. Key coverage includes investor meetings with Nike's CEO, Pennon Group's CMD preview and UK water regulatory updates, sluggish consumer demand in German retail, Aker Solutions' 2Q model updates, and South32's Sierra Gorda extension.
Key Takeaways
- 1.RBC hosted Nike CEO Elliott Hill, noting management is taking the right steps despite execution delays from lead times and Iran conflict impacts; Sector Perform rating maintained with a $45 price target.
- 2.Pennon Group's upcoming CMD provides an opportunity to rebase its balance sheet and set realistic return guidance, supporting an Outperform rating with a 575p target.
- 3.In European retail, NEXT and Zalando are best positioned to benefit from the ongoing online shift amid weak German consumer demand, while Primark and JD Sports face structural challenges.
Table of Contents
- Company Comments
- Industry Comments
- Quick Takes
- Disclaimer
Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| Price Target | 48.00 NOK | Aker Solutions ASA price target maintained at Sector Perform |
| Stock Price | 43.52 NOK | Aker Solutions ASA share price on Oslo Børs |
| Price Target | 45.00 USD | NIKE, Inc. price target maintained at Sector Perform |
| Stock Price | 40.75 USD | NIKE, Inc. share price on NYSE |
| Price Target | 575 GBp | Pennon Group Plc price target with Outperform rating |
Reports in this series
UK & European Research at a Glance is shown in chronological order through this edition, published on August 25, 2026.
Part of the UK & European Research at a Glance series — view all 29 editions
- Jun 4RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jun 5RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jun 9RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jun 12RBC UK & EUROPEAN RESEARCH AT A GLANCE
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- Jun 17RBC UK & EUROPEAN RESEARCH AT A GLANCE
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- Jul 2UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 3UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 6UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 7UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 8RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 10RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 14UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 17UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 27RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 29RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Jul 30RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 5RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 6RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 7RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 11RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 12UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 13RBC UK & EUROPEAN RESEARCH AT A GLANCE
- Aug 17UK & EUROPEAN RESEARCH AT A GLANCE
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Authors / Editors
Reported Data Context
- Price Target: 48.00 NOK · Source: RBC Capital Markets
- Stock Price: 43.52 NOK (2026-08-24)
- Price Target: 45.00 USD · Source: RBC Capital Markets
- Stock Price: 40.75 USD (2026-08-24)
- Price Target: 575 GBp · Source: RBC Capital Markets