Europe Research Roundup: Volkswagen, Software AG, STMicroelectronics
30/10/2014 15:28
Oct 30 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including Air France and Next, on Thursday.
HIGHLIGHTS
* Volkswagen VOWG_p.DE : S&P Capital IQ raises to buy from hold
* STMicroelectronics STM.PA : UBS raises to neutral from sell
* Air France AIRF.PA : Jefferies, Credit Suisse cut target price on the stock
* Software AG SOWG.DE : JP Morgan raises to neutral; SocGen and others lift target
* Next NXT.L : HSBC raises to overweight from neutral
Following is a summary of research actions on European companies reported by Reuters on
Thursday. Stock entries are in alphabetical order.
* Adidas AG ADSGn.DE : Susquehana raises price target to 64 euros from 63 euros; neutral
* Afren Plc AFRE.L : Renaissance Capital cuts target price to 110p from 140p; rating hold
* Ageas AGES.BR : Citigroup cuts price target to 28 euros from 32.50 euros; rating neutral
* Air France AIRF.PA : Jefferies cuts target to 6 euros from 6.70 euros; underperform
* Air France AIRF.PA : Credit Suisse cuts price target to 7 euros from 8.80 euros
* Albioma SA ABIO.PA : HSBC raises to overweight from neutral
* Amplifon AMPF.MI : Bernstein raises target to 4.75 euros from 4.50 euros; market-perform
* Anima ANIM.MI : Kepler Cheuvreux cuts target to 3.6 euros from 4.2 euros; rating buy
* Antofagasta ANTO.L : Investec cuts target price to 704p from 717p; rating hold
* Antofagasta ANTO.L : JP Morgan cuts target price to 755p from 760p; rating neutral
* Arcelik ARCLK.IS : Renaissance Capital raises target to Tl 13.2 from Tl 12.9; rating hold
* Assa Abloy ASSAb.ST :Morgan Stanley ups target to Sek 354 from Sek 323;rating equal-weight
* AT&S ATSV.F : Berenberg cuts target price to 9 euros from 10 euros; rating hold
* Axel Springer SPRGn.DE : Kepler Cheuvreux raises to buy from hold
* Aixtron AIXGn.DE : UBS cuts price target to 10.5 euros from 11 euros; rating neutral
* Axway Software AXW.PA : SocGen cuts target price to 26 euros from 28 euros; rating buy
* Axway Software AXW.PA : Bryan Garnier cuts to neutral from buy
* Axway Software AXW.PA : Bryan Garnier cuts price target to 21 euros from 26 euros
* BBVA BBVA.MC : S&P Capital IQ cuts price target to 9 euros from 9.8 euros; rating hold
* BBVA BBVA.MC : Natixis cuts price target to 8.4 euros from 8.6 euros; rating neutral
* BBVA BBVA.MC : Credit Suisse cuts price target to 9.10 euros from 9.40 euros; neutral
* Belgacom BCOM.BR :Kepler Cheuvreux ups target to 24 euros from 19 euros;rating reduce
* Bureau Veritas BVI.PA : Jefferies cuts price target to 22 euros from 23 euros; rating buy
* Bureau Veritas BVI.PA : Barclays raises to equal weight rating
* Bureau Veritas BVI.PA : JP Morgan ups target to 18.86 euros from 18.54 euros; underweight
* Buzzi Unicem BZU.MI : UBS cuts price target to 13.50 euros from 13.80 euros; rating buy
* Capita CPI.L : JP Morgan cuts target price to 1255p from 1315p; rating overweight
* C&C Group GCC.I : SocGen cuts price target to 3.60 euros from 4.65 euros; rating hold
* C&C Group GCC.I : Nomura cuts target price to 4 euros from 4.50 euros; rating neutral
* CCH CCH.L : JP Morgan cuts target price to 1500p from 1640p; rating overweight
* CGG GEPH.PA : JP Morgan starts with underweight; 3.5 euros target price
* Coal of Africa CZA.L : Investec cuts target price to 6p from 9p; rating buy
* Cramo CRA1V.HE : ESN/Pohjola raises to buy from accumulate
* Danone DANO.PA : Citigroup raises to buy from neutral; target to 62 euros from 52 euros
* Dassault DAST.PA : HSBC ups target to 46 euros from 42.5 euros; rating underweight
* Deutsche Bank DBKGn.DE : Natixis cuts price target to 30 euros from 31 euros; rating buy
* Dialog Semi DLGS.DE : Commerzbank raises target to 30 euros from 28 euros; buy
* Dialog Semi DLGS.DE : HSBC ups to overweight from neutral; target to 30euros from 26euros
* Dialog Semi DLGS.DE : Credit Suisse raises target to 25 euros from 20.50 euros; neutral
* Dialog Semi DLGS.DE : Natixis raises price target to 31 euros from 28 euros; rating buy
* Draegerwerk DRWG_p.DE : ESN/ Equinet Bank raises to buy from hold
* DSV DSV.CO : Jefferies starts with buy rating and price target of dkk 200
* DSV DSV.CO : Nomura raises target price to Dkk 200 from Dkk 190; rating buy
* DSV DSV.CO : Alm Brand marketS raises target price to Dkk 225 from Dkk 200; rating buy
* EDP Renovaveis EDPR.LS : Exane cuts target by 6 pct to 4.50 euros; rating underperform
* Euler Hermes Group SA ELER.PA : JP Morgan cuts target to 88 euros from 93 euros; neutral
* Euler Hermes Group SA ELER.PA : Credit Suisse raises to neutral from underperform
* Faes Farma FAE.MC : Exane BNP Paribas raises target by 3 pct to 1.85 euros; underperform
* Faurecia EPED.PA : Credit Suisse raises target to 37 euros from 36 euros; outperform
* FCA FCHA.MI : SocGen raises to hold from sell; target price to 8.6 euros from 5.5 euros
* Fiat FCHA.MI : Exane BNP Paribas ups target by 27 pct to 8.1 euros; underperform
* Fiat FCHA.MI : Credit Suisse raises price target to 7.20 euros from 6 euros
* Fiat FCHA.MI : Natixis raises to neutral from reduce; target to 8.5 euros from 6.5 euros
* Fiat FCHA.MI : Commerzbank cuts to sell from hold; target to 5 euros from 6.30 euros
* Fugro FUGRc.AS : S&P Capital IQ cuts to strong sell from hold; target to 12 euros from 44
* Fugro FUGRc.AS : Natixis cuts to reduce from neutral; target to 12.5 euros from 21 euros
* Go-Ahead GOG.L : Nomura raises target price to 2550p from 1910p; rating neutral
* Hellenic Exchanges EXCr.AT : ESN/Investment Bank of Greece cuts target to 7.60 euros; buy
* Imagination IMG.L : Numis cuts to reduce from hold
* Ingenico INGC.PA : UBS raises price target to 82 euros from 81 euros; rating neutral
* Ingenico INGC.PA : SocGen raises target price to 90 euros from 85 euros; rating buy
* Ingenico INGC.PA : ESN/CM - CIC Securities cuts to accumulate from buy
* Ingenico INGC.PA : Exane BNP Paribas raises target by 3 pct to 103 euros; outperform
* Ingenico INGC.PA : Natixis raises price target to 93 euros from 92 euros; rating buy
* Ingenico INGC.PA : Wedbush raises target price to 80 euros from 75 euros
* Ipsen IPN.PA : S&P Capital IQ raises to strong buy from buy
* Ipsen IPN.PA : S&P Capital IQ raises target to 47 euros from 41 euros
* Ipsen SA IPN.PA : Natixis raises price target to 43 euros from 40 euros; rating buy
* Jeronimo Martins JMT.LS : Barclays cuts target to 7.40 euros from 8 euros; underweight
* Jeronimo Martins JMT.LS : Citigroup cuts target to 8.80 euros from 12 euros; neutral
* Jeronimo Martins JMT.LS : JP Morgan cuts target to 7.70 euros from 8.50 euros; neutral
* Jeronimo Martins JMT.LS : Exane BNP Paribas cuts target by 11 pct to 8.5 euros; neutral
* Jeronimo Martins JMT.LS : Natixis cuts to reduce from neutral
* Jeronimo Martins JMT.LS : Jefferies cuts price target to 7.90 euros; rating hold
* Jyske Bank JYSK.CO : Alm Brand marketS cuts to neutral from buy; target price of Dkk 335
* Kazakhmys KAZ.L : Numis cuts target price to 240p from 280p; rating hold
* Kazakhmys KAZ.L : Westhouse Securitie raises to neutral from sell
* Kuehne & Nagel KNIN.VX : Jefferies starts with hold rating and price target of Sfr 110
* Lindt & Spruengli LISP.S : Credit Suisse raises price target to Sfr 55,000; neutral
* Lucibel ALUCI.PA : Canaccord Genuity cuts to hold from buy
* Lucibel ALUCI.PA : Canaccord Genuity cuts price target to 6 euros from 9.50 euros
* Luxottica Group LUX.MI : Citigroup ups target to 38.50 euros from 35.50 euros; neutral
* Marks and Spencer MKS.L : SocGen cuts target price to 496p from 598p; rating buy
* Mediaset Espana TL5.MC : Berenberg raises target to 8.30 euros from 7.80 euros; sell
* Mediaset Espana TL5.MC : Nomura raises target to 10.50 euros from 9.50 euros; neutral
* Mediaset Espana TL5.MC : SocGen raises target price to 8.5 euros from 6.3 euros; sell
* Mediaset Espana TL5.MC : Citigroup raises target to 10.40 euros from 9 euros; neutral
* Mediaset Espana TL5.MC : Natixis ups price target to 6 euros from 5 euros; rating reduce
* Mersen SA CBLP.PA : Exane BNP Paribas cuts price target by 15 pct to 20.5 euros; neutral
* Mersen SA CBLP.PA : Natixis raises price target to 24 euros from 23 euros; rating buy
* Metso MEO1V.HE : Morgan Stanley cuts price target to 25 euros from 26 euros; underweight
* Michelin MICP.PA : Credit Suisse cuts price target to 80 euros from 92 euros; neutral
* Mothercare Plc MTC.L : Numis raises to add from hold
* National Express NEX.L : Investec cuts price target to 250p from 276p; rating hold
* Nestle NESN.VX : Citigroup cuts to neutral from buy; price target to Sfr 70 from Sfr 73
* Next NXT.L : SocGen cuts price target to 6469p from 6737p; rating hold
* Next NXT.L : Citigroup cuts price target to 7300p from 7900p; rating buy
* Next NXT.L : HSBC raises to overweight from neutral
* Nexity NEXI.PA : Exane BNP Paribas cuts target by 3 pct to 35 euros; rating outperform
* Novo Nordisk NOVOb.CO : S&P Capital IQ raises target to Dkk 273 from Dkk 253; rating hold
* Panalpina PWTN.S : Jefferies starts with hold; price target Sfr 125
* Pearson PSON.L : Credit Suisse raises price target to 1370p from 1260p; rating outperform
* Petroleum Geo Services PGS.OL : JP Morgan starts with underweight; Nok 24 target price
* Pirelli PECI.MI : Credit Suisse cuts price target to 14.2 euros from 15 euros; outperform
* Premaitha Health NIPT.L : Panmure starts with a buy rating; target price 23p
* Qiagen QGEN.DE : Exane BNP Paribas ups target by 7 pct to 16 euros; rating underperform
* QRF QRF.BR : KBC cuts to hold from accumulate
* Randstad RAND.AS : S&P Capital IQ cuts target price to 40 euros from 43 euros; rating buy
* Rational AG RAAG.DE : DZ Bank AG raises target price to 283.00 from 270.00 euros; buy
* Red Electrica REE.MC : SocGen cuts to hold from buy; target to 69 euros from 67.3 euros
* Renault RENA.PA : SocGen cuts target price to 76 euros from 80 euros; rating buy
* Renault RENA.PA : Commerzbank cuts price target to 65 euros from 69 euros; rating hold
* Rexel RXL.PA : Morgan Stanley cuts target to 18 euros from 18.50 euros; rating overweight
* Rexel RXL.PA : JP Morgan cuts target price to 16 euros from 17 euros; rating overweight
* Rexel RXL.PA : Natixis cuts price target to 17 euros from 17.5 euros; rating buy
* Rieter RIEN.S : Vontobel cuts to hold from buy; target price to Sfr 210 from Sfr 255
* Rosneft ROSNq.L : Credit Suisse cuts target price to $6.90 from $7.40
* Royal Dutch Shell RDSa.AS : S&P Capital IQ cuts target to 29 euros from 31 euros; hold
* Royal Dutch Shell RDSb.L : S&P Capital IQ cuts target price to 2293p from 2452p; hold
* Safran SAF.PA : Citigroup raises price target to 56 euros from 51 euros; rating buy
* Salini Impregilo SALI.MI : Kepler Cheuvreux cuts target to 3.6 euros from 4.2 euros; buy
* Sanofi SASY.PA : Credit Suisse cuts price target to 81 euros from 95 euros
* Sanoma SAA1V.HE : Inderes cuts to reduce from increase, target to 4.7euros from 6.4 euros
* SCA SCAb.ST : Danske Bank raises to hold from sell
* SEB SEBa.ST : Credit Suisse ups price target to Sek 107 from Sek 105; rating outperform
* SIG Plc SHI.L : UBS cuts price target to 205p from 220p; rating buy
* Software SOWG.DE : UBS cuts target price to 22.50 euros from 24 euros; rating buy
* Software SOWG.DE : SocGen raises target price to 19 euros from 16 euros; rating sell
* Software SOWG.DE : JP Morgan raises to neutral from underweight
* Software SOWG.DE : JP Morgan raises price target to 22 euros from 21 euros
* Software SOWG.DE : Bryan Garnier raises target to 24 euros from 23 euros; rating buy
* Software SOWG.DE :Credit Suisse ups target to 18.80euros from 17euros;rating underperform
* Software SOWG.DE : Natixis ups target price to 23 euros from 22.5 euros; rating neutral
* Spectris SXS.L : Canaccord Genuity cuts target price to 2230p; rating hold
* SSAB AB SSABa.ST : Exane BNP Paribas cuts price target by 2 pct to Sek 52; rating neutral
* Standard Chartered STAN.L : SocGen cuts to hold from buy; target to 1085p from 1450p
* Statoil STL.OL : Investec raises target price to Nok 145 from Nok 120; rating sell
* Statoil STL.OL : S&P Capital IQ cuts to hold from buy; target price to Nok 165
* STMicroelectronics STM.PA : S&P Capital IQ cuts target to 4.60 euros from 6 euros; sell
* STMicroelectronics STM.PA : UBS raises to neutral from sell
* STMicroelectronics STM.PA : UBS cuts price target to 5 euros from 5.40 euros
* STMicroelectronics STM.PA : Citigroup cuts target to 5 euros from 5.20 euros; neutral
* STMicroelectronics STM.PA : SocGen cuts target price to 7.1 euros from 8.8 euros; buy
* STMicroelectronics STM.PA :Bernstein cuts target to 4.20euros from 5.50euros; underperform
* STMicroelectronics STM.PA : Credit Suisse cuts price target to 4.50 euros; underperform
* STMicroelectronics STM.PA : Jefferies cuts target to 5.42euros from 6.92euros;rating hold
* Stockmann STCBV.HE : Danske cuts price target to 7.6 euros from 8 euros; rating sell
* Storebrand ASA STB.OL : Berenberg raises target price to Nok 44 from Nok 40; rating buy
* Storebrand ASA STB.OL : SEB Equity Research raises to buy from hold
* Technip TECF.PA : Canaccord Genuity cuts target price to 75 euros from 85 euros; buy
* Telenor TEL.OL : Danske raises price target to Nok 150 from Nok 145; rating hold
* Telenor TEL.OL : RBC raises target price to nok 140 from nok 133; rating underperform
* Tgs Nopec TGS.OL : JP Morgan starts with neutral; Nok 127 target price
* Tie Kinetix TIEH.AS : ESN/SNS Securities cuts to reduce from buy
* TNT Express TNTE.AS : Nomura cuts target price to 3.90 euros from 4.50 euros; reduce
* Tom Tailor TTIGn.DE : Commerzbank cuts target price to 15 euros from 17 euros; rating add
* TomTom TOM2.AS : ING raises to buy from hold; price target to 7 euros from 6 euros
* Total TOTF.PA : Investec raises target price to 45 euros from 42.50 euros; rating hold
* Valeo VLOF.PA : Credit Suisse ups target to 124 euros from 119 euros; rating outperform
* Verbund VERB.VI : Citigroup ups to neutral from sell; target to 15.20 euros from 13 euros
* Vidrala SA VID.MC : Exane BNP Paribas cuts target by 5 pct to 40 euros; rating outperform
* Volkswagen VOWG_p.DE : S&P Capital IQ raises to buy from hold
(Compiled by Fareha Khan, Eileen Anupa Soreng and Geetha Panchaksharam 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/