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Barclays initiates coverage on De Longhi and TechnoGym amid tariff concerns

Barclays maintains a "neutral" stance on European small- and mid-caps, initiating coverage on Italy's De' Longhi and TechnoGym amid favorable stock-picking conditions influenced by U.S. tariffs. De' Longhi is rated "underweight" due to significant tariff risks and potential cash depletion from M&A activities, while TechnoGym is rated "equal-weight" with limited tariff exposure, as only 10% of its sales are to the U.S. Barclays' top picks include D'Ieteren, Biomerieux, and SIG Group, noted for their resilience to macroeconomic shocks.
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