Europe Research Roundup: GlaxoSmithKline, LVMH, Danske Bank
25/07/2014 21:04
July 25 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including LVMH, Nokia and Danske Bank, on Friday.
HIGHLIGHTS
* GlaxoSmithKline GSK.L : UBS cuts to sell from neutral; target to 1380p from 1500p
* LVMH LVMH.PA : Raymond James, Natixis, Bryan Garnier downgrade the stock
* Danske Bank DANSKE.CO : Nomura, SocGen, others raise target price on the stock
* Nokia NOK1V.HE : S&P Capital IQ cuts to hold from buy on valuation
* AT & S ATSV.VI : Deutsche Bank cuts to hold from buy
Following is a summary of research actions on European companies reported by Reuters on Friday.
Stock entries are in alphabetical order.
* ABB Ltd ABBN.VX : RBC cuts target price to Sfr 19 from Sfr 20; rating underperform
* Abertis ABE.MC : Exane Bnp Paribas raises target to 15 euros from 14 euros; neutral
* Adva ADAG.DE : Deutsche Bank cuts target price to 3.80 euros from 4 euros; rating hold
* Aer Lingus AERL.I : Investec cuts price target to 1.67 euros from 1.74 euros; rating buy
* A.G.Barr Plc BAG.L : Investec raises price target to 661p from 645p; rating add
* Airbus AIR.PA : UBS raises price target to 59 euros from 57 euros; rating buy
* Alior Bank ALRR.WA : Deutsche Bank cuts target price to Pln 113 from Pln 117
* Alstom ALSO.PA : S&P Capital IQ raises to buy from hold
* Atresmedia A3M.MC : Barclays raises to equal weight from underweight
* Atresmedia A3M.MC : SocGen raises target price to 10 euros; rating sell
* Atria ATRAV.HE : ESN/Pohjola raises target to 9.20 euros from 8.50 euros; rating buy
* AT & S ATSV.VI : Deutsche Bank cuts to hold from buy
* Axway Software AXW.PA : SocGen cuts target price to 28 euros; rating buy
* Banco De Sabadell SA SABE.MC : SocGen cuts to sell from hold
* Bank Handlowy BHW.WA : Deutsche Bank cuts target price to Pln 101 from Pln 110
* Bankinter BKT.MC : SocGen raises price target to 5.5 euros from 5.2 euros; rating sell
* Bankinter BKT.MC : ESN/Beka Finance ups target to 6.47 euros from 6.25 euros; rating hold
* Bank Millennium MILP.WA : Deutsche Bank cuts target price to Pln 7.5 from Pln 7.7
* Bank Zachodni BZW.WA : Deutsche Bank raises to buy from hold
* Bank Pekao PEO.WA : Deutsche Bank cuts to hold from buy
* Barclays BARC.L : Deutsche Bank cuts target price to 275p from 300p; rating buy
* Basf SE BASFn.DE : Credit Suisse cuts target to 80 euros from 82 euros; rating neutral
* Bodycote Plc BOY.L : Berenberg raises to buy from hold
* Bodycote Plc BOY.L : Berenberg raises price target to 776p from 759p
* Cable & Wireless CWC.L : JP Morgan cuts price target to 53p from 57p; rating neutral
* Danone SA DANO.PA : Canaccord Genuity cuts target to 44 euros from 45 euros; rating sell
* Danske Bank DANSKE.CO : ALM Brand Markets raises target to Dkk 185 from Dkk 175; neutral
* Danske Bank DANSKE.CO : Nomura raises price target to Dkk 180 from Dkk 175; buy
* Danske Bank DANSKE.CO : Nordea raises price target to Dkk 188 from Dkk 185; rating buy
* Danske Bank DANSKE.CO : SocGen raises target to Dkk 140 from Dkk 130; rating sell
* Danske Bank DANSKE.CO : Credit Suisse raises target to Dkk 184 from Dkk 177; outperform
* Danske Bank DANSKE.CO : UBS raises price target to Dkk 157 from Dkk 147; rating neutral
* Dassault Systemes DAST.PA : Barclays cuts target price to 45 euros; rating underweight
* Dassault Systemes DAST.PA : SocGen raises target price to 49 euros; rating hold
* Dassault Systemes DAST.PA : Bryan Garnier raises fair value to 47 euros; rating neutral
* Dassault Systemes DAST.PA : Credit Suisse ups target to 56 euros from 53 euros;
outperform
* Dassault Systemes DAST.PA : Exane BNP cuts to neutral from outperform rating
* Dassault Systemes DAST.PA : Exane BNP cuts target price to 51 euros from 52.50 euros
* DE LA RUE DLAR.L : Numis raises to add from hold
* Deutsche Annington Immobilien SE ANNGn.DE : Commerzbank cuts to hold from add
* Deutsche Annington Immobilien SE ANNGn.DE : Commerzbank raises target to 23 euros
* Deutsche Boerse DB1Gn.DE : DZ Bank cuts target to 62.00 euros from 66.00 euros;rating buy
* Deutsche Euroshop DEQGn.DE : Commerzbank raises target to 36 euros from 35 euros; hold
* Deutsche Wohnen DWNG.DE : Commerzbank raises target to 16.40 euros from 16.10 euros; hold
* Erste Group Bank ERST.VI : Morgan Stanley raises to overweight from equal weight
* Erste Group Bank ERST.VI : Morgan Stanley cuts price target to 25 euros from 29 euros
* Easyjet Plc EZJ.L : UBS cuts price target to 1930p from 2100p; rating buy
* Econocom Group EBAB.BR : Exane BNP Paribas cuts target to 10 euros; rating outperform
* EFG International AG EFGN.S : UBS cuts price target to Sfr 13.6 from Sfr 14.4; rating buy
* EI Towers EIT.MI : Berenberg raises target price to 51 euros from 50 euros; rating buy
* Electrocomponents ECM.L : Barclays cuts target price to 229p; rating equal weight
* Electrocomponents ECM.L : Credit Suisse cuts target to 220p from 260p; underperform
* Electrocomponents ECM.L : Deutsche Bank cuts target price to 265p from 290p; rating hold
* Faroe Petroleum Plc FPM.L : Peel Hunt cuts target price to 165p from 171p; rating buy
* F-Secure OYJ FSC1V.HE : ESN/Pohjola cuts to sell;ups target to 2.20 euros from 2.10 euros
* Gagfah SA GFJG.DE : Commerzbank cuts to hold; raises target to 13.50 euros from 13 euros
* Gamesa GAM.MC : SocGen raises to buy from hold
* Gas Natural GAS.MC : Deutsche Bank raises target price to 21.50 euros; rating hold
* GlaxoSmithKline GSK.L : UBS cuts to sell from neutral; target to 1380p from 1500p
* GlaxoSmithkline GSK.L : Helvea cuts price target to 1530p; rating hold
* Groupe Eurotunnel GETP.PA : RBC raises target to 11 euros from 10.50 euros; outperform
* Howden Joinery Group Plc HWDN.L : UBS raises price target to 458p from 430p; rating buy
* ING Bank Slaski INGP.WA : Deutsche Bank cuts target price to Pln 129 from Pln 131
* Intercontinental Hotels Group IHG.L : Nomura raises price target to 2365p from 2065p
* Interserve Plc IRV.L : Berenberg starts with buy; price target 750p
* Ipsos SA ISOS.PA : ESN/CM - CIC Securities cuts target to 32 euros from 38 euros; buy
* Kerry Group KYGa.I : Investec raises target to 57.35 euros from 56 euros; rating hold
* Kingfisher Plc KGF.L : SocGen cuts price target to 320p from 353p; rating hold
* Kingfisher Plc KGF.L : Barclays cuts price target to 390p from 420p; rating equal weight
* Kingfisher Plc KGF.L : Deutsche Bank cuts target price to 430p from 460p; rating buy
* Koninklijke Wessanen NV BSWSc.AS : ESN/SNS Securities ups to buy from accumulate rating
* Koninklijke Wessanen NV BSWSc.AS : ESN/SNS Securities raises target to 4.90 euros
* KPN KPN.AS : Natixis cuts target price to 1.8 euros from 2 euros; rating reduce
* Lafarge SA LAFP.PA : Jefferies cuts target price to 82 euros from 84 euros; rating buy
* Lafarge SA LAFP.PA : S&P Capital IQ raises to hold; target to 65 euros from 55 euros
* Lancashire Holdings LRE.L : Morgan Stanley cuts target to 739p from 789p; equal weight
* Lancashire LRE.L : Deutsche Bank cuts target price to 724p from 762p; rating buy
* Lancashire : Canaccord Genuity cuts target price to 670p from 690p; rating hold
* LEG Immobilien LEGn.DE : Commerzbank raises target to 53 euros from 50 euros; rating hold
* Logitech LOGN.S : Barclays raises target price to Sfr 15.50; rating equal weight
* Logitech LOGN.S : UBS raises price target to Sfr 13.5 from Sfr 12.5; rating neutral
* Lonza LONN.VX : Vontobel raises price target to Sfr 120 from Sfr 115; rating buy
* Lonza LONN.VX : S&P Capital IQ raises target price to Sfr 106 from Sfr 103; rating hold
* LVMH LVMH.PA : Berenberg cuts price target to 154 euros from 163 euros; rating buy
* LVMH LVMH.PA : Nomura cuts price target to 150 euros from 155 euros; rating buy
* LVMH LVMH.PA : Raymond James cuts to market perform from outperform
* LVMH LVMH.PA : Renaissance Capital cuts price target by 5 euros to 152 euros
* LVMH LVMH.PA : Bernstein cuts price target to 162 euros from 167 euros; rating outperform
* LVMH LVMH.PA : SocGen cuts target price to 140 euros; rating hold
* LVMH LVMH.PA : Natixis cuts to neutral from buy; cuts target to 151 euros from 158 euros
* LVMH LVMH.PA : Bryan Garnier cuts to neutral; cuts target to 156 euros from 167 euros
* LVMH LVMH.PA : S&P Capital IQ cuts target price to 152 euros from 172 euros; rating buy
* Mapfre MAP.MC : Berenberg cuts target price to 3.08 euros from 3.18 euros; rating hold
* Mbank MBK.WA : Deutsche Bank raises to hold from sell
* Mediaset Espana TL5.MC : Nomura raises target to 9.50 euros from 9 euros; rating neutral
* Mobistar MSTAR.BR : Barclays raises target price to 13.50 euros; rating equal weight
* Mobistar MSTAR.BR : Jefferies raises to hold from underperform; target to 13.70 euros
* Montupet SA MNTP.PA : Exane BNP Paribas cuts target to 80 euros from 85 euros; outperform
* MTU Aero Engines MTXGn.DE : Investec raises to add from reduce
* MTU Aero Engines MTXGn.DE : Investec raises price target to 70 euros from 66 euros
* MTU Aero Engines MTXGn.DE : Natixis raises target to 70 euros from 65 euros; neutral
* Nexity NEXI.PA : Exane BNP Paribas cuts target to 36 euros from 38 euros; outperform
* Nokia NOK1V.HE : Barclays raises target price to 6 euros; rating equal weight
* Nokia NOK1V.HE : Nomura raises target price to 6 euros; rating neutral
* Nokia NOK1V.HE : S&P Capital IQ cuts to hold from buy on valuation
* Nokia NOK1V.HE : Natixis raises price target to 6 euros from 5.1 euros; rating neutral
* Nokia NOK1V.HE : ESN/Pohjola raises target to 5.70 euros from 5.20 euros; rating reduce
* Nokia NOK1V.HE : Exane BNP Paribas raises target to 5.90 euros from 5.30 euros; neutral
* Nokia NOK1V.HE : UBS raises price target to 6 euros from 5.4 euros; rating neutral
* Nokia NOK1V.HE : Deutsche Bank raises target to 5.60 euros from 5.20 euros; rating hold
* Nutreco NUO.AS : ESN/SNS Securities raises target to 34 euros from 33 euros; rating hold
* Nyrstar NYR.BR : Citigroup raises price target to 3.50 euros from 3 euros; rating neutral
* Nyrstar NYR.BR : SocGen raises to hold from sell
* Nyrstar NYR.BR : Exane BNP Paribas raises target to 2 euros from 1.80 euros; underperform
* Outokumpu OUT1V.HE : ESN/Pohjola cuts target to 7.50 euros from 7.70 euros; rating hold
* Panalpina PWTN.S : Nomura cuts price target to Sfr 130 from Sfr 150; rating neutral
* Pearson Plc PSON.L : Numis raises target price to 1194p from 1189p; rating hold
* Petrofac Ltd PFC.L : SocGen cuts to hold from buy
* Petrofac Ltd PFC.L : SocGen cuts price target to 1220p from 1480p
* PGS PGS.OL : Natixis cuts to neutral from buy
* PGS PGS.OL : Natixis cuts target price to Nok 64 from Nok 78; rating neutral
* PKO PKO.WA : Deutsche Bank cuts target price to Pln 45 from Pln 52
* Plastic Omnium PLOF.PA : SocGen raises to buy from hold
* Provident Financial PFG.L : SocGen raises target price to 2270p from 1560p; rating hold
* Reed Elsevier ELSN.AS : Barclays raises target price to 18 euros
* Reed Elsevier REL.L : Nomura Raises price target to 1080p from 1050p; rating buy
* Reed Elsevier REL.L : Barclays raises target price to 1020p
* Reed Elsevier REL.L : UBS raises price target to 970p from 880p; rating neutral
* Reed Elsevier REL.L : Numis raises price target to 1,130p from 1,031p; rating add
* Reed Elsevier REL.L : Morgan Stanley raises target to 1030p from 1000p; rating overweight
* Reed Elsevier ELSN.AS : Morgan Stanley raises target to 19.40 euros; rating overweight
* Rexam REX.L : Jefferies cuts to hold from buy
* Ricardo Plc RCDO.L Berenberg starts with buy; price target 735p
* Roche ROG.VX : Barclays cuts price target to Sfr 300 from Sfr 303; rating overweight
* Roche ROG.VX : SocGen raises target price to Sfr 330; rating buy
* Royal Caribbean Cruises RCL.OL : Natixis raises target to Nok 420 from Nok 360;rating buy
* Royal Caribbean Cruises RCL.OL : Danske Bank raises to buy from hold
* Royal Caribbean Cruises RCL.OL : Danske Bank raises price target to Nok 440 from Nok 345
* Royal Caribbean Cruises RCL.OL : S&P Capital IQ ups target to Nok 425 from Nok 375; buy
* RSA RSA.L : Exane BNP Paribas cuts target price to 402p from 405p; rating underperform
* SBM Offshore NV SBMO.AS : UBS cuts target to 11.6 euros from 14.5 euros; rating neutral
* SES SESFd.PA : S&P Capital IQ raises target price 32 euros from 28 euros; rating buy
* Sky Deutschland SKYDn.DE : DZ Bank cuts target to 7.60 euros from 7.80 euros; rating buy
* Software SOWG.DE : Barclays cuts target price to 21 euros; rating equal weight
* Spectris SXS.L : Numis cuts to hold from add
* SSE Plc SSE.L : Raymond James raises target to 1405p from 1270p; rating underperform
* Stagecoach Group SGC.L : Nomura raises price target to 400p from 390p; rating buy
* Stallergenes GENP.PA : S&P Capital IQ cuts target to 58 euros from 61 euros; rating hold
* Standard Chartered STAN.L : Exane BNP Paribas cuts target to 1250p from 1300p; neutral
* Starrag Group STGN.S : Vontobel cuts to hold from buy; target price to Sfr 85 from Sfr 90
* Statoil ASA STL.OL : S&P Capital IQ raises target to Nok 190 from Nok 174; rating hold
* Storebrand STB.OL : Morgan Stanley ups target to Nok 38.10 from Nok 37.40; equal-weight
* Swatch Group UHR.VX : Credit Suisse cuts target to Sfr 620 from Sfr 650; outperform
* Syngenta AG SYNN.VX : JP Morgan cuts target to Sfr 240 from Sfr 250; rating underweight
* TAG Immobilien AG TEGG.DE : Commerzbank cuts target to 10.30 euros from 10.80 euros; buy
* Takkt AG TTKG.DE : DZ Bank cuts target price to 16.00 euros from 17.00 euros; rating buy
* Tate & Lyle Plc TATE.L : Credit Suisse cuts target to 630p from 650p; rating underperform
* Tate & Lyle Plc TATE.L : UBS cuts price target to 615p from 630p; rating sell
* Tate & Lyle Plc TATE.L : Canaccord Genuity cuts target to 640p from 660p; rating hold
* Technip TECF.PA : Raymond James cuts target to 66 euros from 79 euros;rating underperform
* Technip TECF.PA : Natixis cuts target price to 72 euros from 80 euros; rating neutral
* Technip TECF.PA : Credit Suisse cuts target to 92 euros from 95 euros; rating outperform
* Technip TECF.PA : UBS cuts price target to 76.5 euros from 82 euros; rating neutral
* Technip TECF.PA : Deutsche Bank cuts target price to 90 euros from 92 euros; rating buy
* Telford Homes TELF.L : Barclays starts with equal weight rating
* Thales TCFP.PA : JP Morgan raises price target to 55 euros from 54 euros; overweight
* Tomtom TOM2.AS : Nomura raises target price to 5.27 euros; rating neutral
* Tomtom TOM2.AS : UBS raises price target to 5.30 euros from 4.4 euros; rating sell
* Topps Tiles Plc TPT.L : Berenberg starts with buy; price target 170p
* Unilever NV UNc.AS : Nomura raises price target to 29.90 euros from 29.70 euros; reduce
* Unilever NV UNc.AS : SocGen raises target price to 32 euros; rating hold
* Unilever NV UNc.AS : Morgan Stanley raises target to 33 euros from 30 euros; equal weight
* United Utilities UU.L : S&P Capital cuts to strong sell from sell
* United Utilities UU.L : S&P Capital raises price target to 700p from 586p
* Vossloh AG VOSG.DE : Berenberg cuts price target to 73 euros from 73.50 euros; rating buy
* VTG AG VT9G.DE : UBS cuts to neutral; raises price target to 16.20 euros from 15.90 euros
(Compiled by Fareha Khan and Jai Ganesh in Bangalore)
((fareha.khan@thomsonreuters.com)(within U.S. +1 646 223 8780 outside U.S. +91 80 6749
1130)(Reuters Messaging: fareha.khan.thomsonsonreuters.com@reuters.net))
Keywords: RESEARCH EUROPE/