European Daily Focus: Thursday, 14th May 2026

Research evidence excerpt

European Daily Focus: Thursday, 14th May 2026

we anticipate accelerating momentum in this dbAccess European Champions Conference 2026 May 26 - Frankfurt27, 2026

region, which makes the current guidance appear rather cautious. We maintain our Source : Deutsche Bank

Buy rating and raise our target price to €76.

Figure 7: Global Focus

NLB GROUP (NLBR.LJ) - Addiko back in focus, Strategy 2030 execution

continues Corpay

Miriam Killian: Tgt EUR241 to EUR251. Last Close EUR226, Buy. Following today's Carving Out a Moat in Cross-Border B2B Payments

Badger Meter

publication of the Offering Memorandum for its voluntary public takeover offer for Investor Day Preview: Making the Case for HSD% Growth

Addiko Bank, NLB formally launched the acceptance period for the proposed PhillipsKey TakeawaysEdison From& Co Non Deal Roadshow

EUR29 per share offer, reiterating the unchanged strategic rationale behind the Arm Holdings

transaction. Separately, at its Investor Day held last week in Sarajevo, management ARMEarly NDRMorningTakeawaysReid

largely focused on execution progress against the existing Strategy 2030 Macro Strategy

framework rather than introducing materially new targets, while modestly lowering Source : Deutsche Bank

the targeted cost-income ratio target to low 40%-s (from less than 45%). Following

the bank's results and strategic update, we keep our 2026 broadly unchanged,

modestly increase our 2027 and 2028 forecasts and raise our target price to

EUR251 (from EUR241).

ABN AMRO (ABNd.AS) - Strong P&L, when will capital return follow?

Benjamin Goy: Tgt EUR28 to EUR31. Last Close EUR31.77, Hold. ABN AMRO

delivered strong 1Q26 results, positively surprising almost across the board. Post

results we increase our EPS in particular in 2026 & 2027 significantly (+8% and