May 22, 2020 / 4:24 AM / 3 days ago

Swiss stocks - Factors to watch on May 22

ZURICH/BERLIN, May 22 (Reuters) - The Swiss blue-chip SMI was seen opening 1.3% lower at 9,664 points on Friday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks on Friday:

ROCHE

Britain said it had agreed to acquire over 10 million coronavirus antibody tests from Roche and Abbott which would be rolled out to healthcare workers from next week.

ARYZTA

A group of activist shareholders that owns 17.8% of the Swiss-Irish baked goods company wants four members of its board of directors, including its chairman, be removed and replaced with three “industry experts”. The group, which includes Veraison and Cobas Asset Management, also proposed an extraordinary shareholders’ meeting to vote on the board changes but said the board “has so far shown no real willingness to cooperate constructively”.

COMPANY STATEMENTS

* Stadler Rail said that Chief Executive Thomas Ahlburg’s employment was being terminated by mutual agreement because of “different views regarding Stadler’s strategic and organisational development”, and that its 2020 targets were suspended because of coronavirus uncertainties.

* Roche has acquired U.S.-based Stratos Genomics to further develop DNA-based sequencing for diagnostic use, it said on Friday. It also said new longer-term data reinforced the safety of Satralizumab in Neuromyelitis patients.

* Baloise Holding has acquired a minority stake in Swiss company Batmaid, a digital platform for domestic cleaning services, to build out its home services and product range.

ANALYSTS’ VIEWS

ALCON - JP Morgan cuts price target to $56 from $60; rating neutral

RICHEMONT - Credit Suisse cuts target price to chf 48 from chf 52

LOGITECH - JP Morgan cuts to neutral from overweight

STRAUMANN - Deutsche Bank cuts target price to chf 860 from chf 890

ECONOMY

No major Swiss economic data scheduled (Reporting by Zurich newsroom and Berlin Speed Desk)

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