Europe Research Roundup: HSBC, Georg Fischer, Delta Lloyd

Agesa Hayat ve Emeklilik

12/01/2015 23:39

Jan 12 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including HSBC and Delta Lloyd, on Monday.  
     
    HIGHLIGHTS 
    * Georg Fischer  FIN.S : Credit Suisse raises to outperform; target to Sfr 730 from Sfr 670 
    * Delta Lloyd  DLL.AS : JP Morgan cuts to underweight from neutral 
    * HSBC  HSBA.L : JP Morgan cuts price target to 655p from 675p; rating neutral 
       
Following is a summary of research actions on European companies reported by Reuters on Monday. 
Stock entries are in alphabetical order.    
     
    * Acciona SA  ANA.MC : Kepler Cheuvruex cuts target to 50 euros from 52 euros; rating reduce 
    * Acerinox  ACX.MC : Deutsche Bank raises target to 13 euros from 12 euros; rating hold  
    * Ackermans & Van Haaren  ACKB.BR : ESN/Bank Degroof raises target to 104 euros; rating hold 
    * Acron  AKRN.MM : SocGen raises target price to 2500 Roubles from 1360 Roubles; rating buy 
    * Acron  AKRN.MM : UBS raises price target to 2500 Roubles from 1360 Roubles; rating buy 
    * Active Energy Group  AEGR.L : WH Ireland raises price target to 6.5P from 6p; rating buy 
    * Air France KLM  AIRF.PA : UBS raises price target to 8 euros from 7 euros; rating neutral 
    * Air Liquide  AIRP.PA : Citigroup raises target to 99 euros from 91 euros; rating neutral  
    * Airbus  AIR.PA : Investec raises price target to 55 euros from 50 euros; rating buy  
    * Aker ASA  AKER.OL : UBS cuts price target to Nok 165 from Nok 205; rating neutral 
    * Akzo Nobel  AKZO.AS : Citigroup raises target price to 68 euros from 66 euros; rating buy  
    * Alfa Laval  ALFA.ST : Handelsbanken cuts to reduce; target price to Sek 135 from Sek 165 
    * Amec Foster Wheeler  AMFW.L : Barclays reinstates with equal weight; price target 1250p 
    * Amec Foster Wheeler  AMFW.L : Canaccord Genuity cuts target price to 1,200p; rating buy  
    * Anadolu Efes  AEFES.IS : Morgan Stanley cuts target to tl 26.3 from tl 32.5; overweight 
    * Anadolu Hayat  ANHYT.IS : HSBC raises target to Tl 7.5 from Tl 5.9; rating overweight 
    * Anheuser-Busch Inbev  ABI.BR : Deutsche Bank raises target to 90 euros from 85 euros; hold 
    * AP Moeller Maersk  MAERSKb.CO : Jefferies cuts target to Dkk 11,000; rating underperform  
    * Aperam  APAM.AS : Deutsche Bank cuts price target to 38 euros from 39 euros; rating buy  
    * ArcelorMittal  ISPA.AS : JP Morgan cuts target to 14 euros from 16 euros; overweight 
    * ArcelorMittal  ISPA.AS : Deutsche Bank cuts target to 10.50 euros from 11.50 euros; hold  
    * Arkema SA  AKE.PA : Citigroup ups to buy from neutral;target to 65 euros from 53.09 euros 
    * Aryzta  ARYN.VX : UBS raises price target to Sfr 95 from Sfr 94; rating neutral  
    * Associated British Foods  ABF.L :Credit Suisse ups target to 3,250p from 3,000p;outperform 
    * Atlantic Petroleum  ATLA.OL : Swedbank cuts target to Nok 80 from Nok 115; rating buy  
    * Atos  ATOS.PA : JP Morgan starts with overweight; price target 80 euros 
    * Aveva  AVV.L : Numis cuts price target to 1740p from 1810p; rating buy 
    * Avivasa  AVISA.IS : HSBC starts with overweight; target price of Tl 73 
    * Avon Rubber  AVON.L : Investec cuts to hold from buy 
    * B I C  BICP.PA : Natixis raises price target to 120 euros from 115 euros; rating buy 
    * BIM  BIMAS.IS : Morgan Stanley raises to overweight from underweight 
    * BIM  BIMAS.IS : Morgan Stanley raises price target to Tl 54 from Tl 46.8 
    * BAE Systems  BAES.L : Investec raises price target to 440p from 430p; rating sell  
    * Banca Monte dei Paschi DI Siena  BMPS.MI : UBS cuts target to 0.5euros from 1euros;neutral 
    * Banco Popolare  BAPO.MI : UBS cuts price target to 14.3 euros from 15 euros; rating buy 
    * Banco Santander  SAN.MC : Goldman Sachs cuts target to 7.10 euros from 7.35 euros; neutral 
    * Banco Santander  SAN.MC : Deutsche Bank cuts target price to 5.8 euros; rating hold 
    * Basf SE  BASFn.DE : Citigroup raises to buy from neutral; target to 80 euros from 75 euros 
    * Beiersdorf AG  BEIG.DE :Exane BNP Paribas raises target to 76 euros from 73 euros; neutral 
    * Beiersdorf  BEIG.DE : Nomura cuts price target to 82 euros from 83 euros; rating buy 
    * Binckbank NV  BINCK.AS : Rabobank cuts target to 10 euros from 10.25 euros; rating buy 
    * Bloomsbury Publishing  BLPU.L : Peel Hunt raises to buy from hold 
    * Burberry  BRBY.L : UBS raises target price to 1650p from 1510p; rating neutral 
    * Cape  CIU.L : Canaccord Genuity cuts target price to 300p; rating buy  
    * Carnival  CCL.L : Natixis raises to buy from neutral; raises target to 3600p from 2800p 
    * Cat Oil  O2C.DE : Renaissance Capital cuts to hold from buy   
    * Cat Oil  O2C.DE : Renaissance Capital cuts target price to 15 euros from 20 euros 
    * Catlin  CGL.L : Deutsche Bank cuts to hold from buy; raises target price to 727p from 585p 
    * CCC  CCCP.WA : Wood & Co raises to buy from hold 
    * Cembra Money Bank  CMBN.S : Credit Suisse raises target to Sfr 53.50 from Sfr 51; neutral 
    * CFE  CFEB.BR : ESN/Bank Degroof raises target price to 98 euros from 96 euros; rating buy 
    * Christian Dior  DIOR.PA : ESN/CM - CIC Securities cuts to hold from buy 
    * Cobham  COB.L : UBS raises price target to 330p from 315p; rating neutral 
    * Cobham Plc  COB.L : Investec cuts to sell from reduce  
    * Coca-Cola Icecek  CCOLA.IS : Morgan Stanley raises to equal weight from overweight 
    * Coca-Cola Icecek  CCOLA.IS : Morgan Stanley raises price target to Tl 47.8 from Tl 43 
    * Coca Cola HBC AG  CCH.L : Deutsche Bank cuts price target to 1300p from 1500p; rating buy 
    * Continental AG  CONG.DE : S&P Capital IQ raises target to 192 euros from 185 euros; buy 
    * Cropenergies AG  CE2G.DE : DZ Bank cuts target price to 3.10 euros from 4.90 euros; hold 
    * Danone SA  DANO.PA : Exane BNP Paribas ups target to 57 euros from 55 euros; underperform 
    * Danske Bank Danske.CO>: Nordea marketS cuts target to Dkk 195 from Dkk 200; rating buy  
    * Delhaize  DELB.BR : ESN/BANK Degroof raises target to 70 euros from 63 euros; accumulate 
    * Delta Lloyd  DLL.AS : JP Morgan cuts to underweight from neutral 
    * Delta Lloyd  DLL.AS : JP Morgan cuts price target to 18.57 euros from 20.68 euros 
    * Det Norske Oljeselskap ASA  DETNOR.OL : UBS starts with buy; price target Nok 50   
    * DFDS A/S  DFDS.CO : Danske Bank raises target price to Dkk 725 from Dkk 600; rating buy 
    * DNB ASA  DNB.OL : Deutsche Bank cuts price target to Nok 120 from Nok 134; rating hold 
    * DSM  DSMN.AS : Citigroup cuts target price to 63 euros from 65 euros; rating buy  
    * Dunelm  DNLM.L : RBC cuts to underperform from sector perform; cuts price target to 800p 
    * EDP Renovaveis  EDPR.LS : Kepler Cheuvreux ups target to 5.50 euros from 5.25 euros; hold  
    * Electrolux  ELUXb.ST : ABG Sundal Collier cuts price target to Sek 190 from Sek 200 
    * Electrolux  ELUXb.ST : ABG Sundal Collier cuts to sell from hold 
    * Elementis Plc  ELM.L : BofA Merrill raises to buy from underperform  
    * Elementis Plc  ELM.L : BofA Merrill raises price target to 300p from 225p 
    * Endesa SA  ELE.MC : Kepler Cheuvreux raises target to 19.5 euros from 19 euros; rating buy 
    * Enquest  ENQ.L : Swedbank cuts price target to 700p from 800p; rating neutral   
    * Eurasia Drilling  EDCLq.L : Renaissance Capital cuts target to $20 from $35; rating buy  
    * Eurocash : Morgan Stanley raises to equal weight from underweight 
    * Eurocash  EUR.WA : Morgan Stanley raises price target to Pln 33.3 from Pln 32.3 
    * Fugro  FUGRc.AS : Canaccord Genuity cuts target price to 16 euros; rating hold  
    * Gas Natural  GAS.MC : Kepler Cheuvreux raises target to 18 euros from 17.6 euros; reduce 
    * Gazprom NEFT  SIBNq.L : Renaissance Capital cuts target price to $19 from $26; rating buy  
    * Georg Fischer  FIN.S : Credit Suisse raises to outperform from neutral 
    * Georg Fischer  FIN.S : Credit Suisse raises target price to Sfr 730 from Sfr 670 
    * Givaudan  GIVN.VX : Deutsche Bank raises target price to 2,000p from 1,900p; rating buy 
    * Givaudan  GIVN.VX : Citigroup raises target to Sfr 1,900 from Sfr 1,350; rating neutral  
    * GKN  GKN.L : Credit Suisse raises price target to 410p from 380p; rating outperform 
    * Go-Ahead Group  GOG.L : UBS raises price target to 2380p from 2340p; rating neutral 
    * Gulf Marine Services  GMS.L : Canaccord Genuity cuts target price to 160p; rating buy  
    * Havas SA  EURC.PA : Barclays cuts to equal weight from overweight 
    * Heineken  HEIN.AS : Deutsche Bank raises target to 70 euros from 65 euros; rating buy  
    * Henkel  HNKG_p.DE : Exane BNP Paribas raises target to 103 euros from 93 euros; outperform 
    * Henkel  HNKG_p.DE : Nomura cuts price target to 94 euros from 95 euros; rating buy 
    * Hermes  HRMS.PA : UBS raises price target to 285 euros from 260 euros; rating neutral  
    * Hikma Pharmaceuticals  HIK.L : Peel Hunt raises to buy from hold; raises target to 2,450p 
    * HSBC  HSBA.L : JP Morgan cuts price target to 655p from 675p; rating neutral 
    * Hunting  HTG.L : Barclays cuts to equal weight from overweight   
    * Hunting  HTG.L : Barclays cuts price target to 800p from 1050p 
    * Hunting  HTG.L : Canaccord Genuity cuts target price to 600p; rating hold  
    * Intermediate Capital  ICP.L : Canaccord Genuity raises target to 533p from 510p;rating buy 
    * ITV  ITV.L : Berenberg cuts to sell from hold 
    * Jcdecaux  JCDX.PA : Berenberg raises target price to 34.70 euros from 34 euros; rating buy 
    * Jcdecaux  JCDX.PA : UBS raises price target to 32.5 euros from 32 euros; rating buy 
    * K&S AG  SDFGn.DE : Citigroup raises target price to 20 euros from 19 euros; rating sell  
    * KBC Ancora  KBCA.BR : ING raises price target to 33 euros from 32 euros; rating buy 
    * KBC Groupe  KBC.BR : Berenberg raises price target to 50 euros from 48 euros; rating buy 
    * Kering SA  PRTP.PA : UBS raises target price to 174 euros from 161 euros; rating buy 
    * Laird  LRD.L : JP Morgan raises price target to 363p from 318p; rating overweight 
    * Lanxess AG  LXSG.DE : Citigroup raises to buy from neutral  
    * Lanxess AG  LXSG.DE : Citigroup raises target price to 45 euros from 40 euros 
    * Linde AG  LING.DE : Citigroup raises target price to 180 euros from 168 euros; rating buy  
    * L'Oreal  OREP.PA : Nomura raises price target to 117 euros from 116 euros; rating reduce 
    * L'Oreal SA  OREP.PA : Exane BNP Paribas ups target to 152 euros from 148 euros; outperform 
    * LPP  LPPP.WA : Wood & Co cuts to sell from buy  
    * Lukoil  LKOHyq.L : Renaissance Capital cuts target price to $52 from $66; rating buy  
    * Lundin Petroleum  LUPE.ST : Swedbank cuts target to Sek 140 from Sek 145;rating strong buy 
    * LVMH  LVMH.PA : UBS cuts target price to 145 euros from 155 euros; rating buy 
    * Mediaset Spa  MS.MI : Berenberg raises target to 4.05 euros from 3.65 euros; rating buy 
    * Meggitt  MGGT.L : Investec raises price target to 560p from 540p; rating buy  
    * MTU Aero Engines  MTXGn.DE : Investec raises target to 85 euros from 80 euros; rating buy  
    * Neste Oil  NES1V.HE : Barclays raises target to 18.50 euros from 14.50 euros; underweight 
    * Nestle  NESN.VX : Exane BNP Paribas raises target to Sfr 77 from Sfr 73; rating neutral 
    * Newriver Retail Ltd  NRRT.L : Liberum raises price target to 336p from 330p; rating buy 
    * NN Group  NN.AS : JP Morgan raises price target to 26.51 euros from 25.29 euros 
    * Novatek  NVTKq.L : Renaissance Capital cuts to hold from buy; target to $93 from $140  
    * OPAP  OPAr.AT : ESN/IBG Investment cuts to accumulate from buy   
    * OPAP  OPAr.AT : ESN/IBG Investment cuts price target to 10 euros from 15.50 euros 
    * Ophir Energy  OPHR.L : Deutsche Bank raises to buy from hold; cuts target price to 180p 
    * Opus Group Publ AB  OPUS.ST : Danske Bank cuts rating to hold from buy  
    * Opus Group Publ AB  OPUS.ST : Danske Bank cuts target price to Sek 9 from Sek 16 
    * Oriflame  ORIsdb.ST : Nomura cuts price target to Sek 120 from Sek 150; rating reduce  
    * Outokumpu  OUT1V.HE : Deutsche Bank cuts target to 7 euros from 7.50 euros; rating buy  
    * Pegasus Airlines  PGSUS.IS : Goldman Sachs raises target to Tl 42 from Tl 41; rating buy  
    * Petrofac Ltd  PFC.L : Canaccord Genuity cuts target price to 1,000p; rating buy  
    * Pfeiffer Vacuum  PV.DE : HSBC raises to overweight from underweight 
    * Pfeiffer Vacuum  PV.DE : HSBC raises target price to 78 euros from 60 euros 
    * Prosiebensat 1 Media  PSMGn.DE : Berenberg cuts to sell from hold 
    * Qinetiq  QQ.L : Investec cuts price target to 200p from 225p; rating add  
    * Reckitt Benckiser  RB.L : Exane BNP Paribas ups target to 4700p from 4500p; underperform 
    * Reckitt Benckiser  RB.L : Nomura cuts price target to 5400p from 5500p; rating buy 
    * Ren  RENE.LS : Barclays cuts target to 2.85 euros; rating overweight  
    * Ren  RENE.LS : ESN/ Caixa-Banco de Investimento revises to accumulate from buy rating  
    * Restaurant Group  RTN.L : JP Morgan cuts price target to 730p from 745p; rating overweight 
    * Richemont SA  CFR.VX : UBS raises target price to Sfr 100 from Sfr 95; rating buy  
    * Rolls-Royce  RR.L : SocGen cuts to sell from hold; cuts target price to 770P from 800P 
    * Rosneft  ROSNq.L : Renaissance Capital cuts to hold from buy; target to $4.1 from $8.2  
    * Royal Caribbean Cruises  RCL.OL : Natixis cuts to neutral from buy   
    * Royal Caribbean Cruises  RCL.OL : Natixis raises price target to Nok 650 from Nok 460 
    * RPC  RPC.L : Deutsche Bank cuts price target to 630p from 680p; rating buy  
    * RPC  RPC.L : Deutsche Bank cuts target price to 630p from 680p  
    * SAF Holland  SFQN.DE : Exane BNP Paribas starts with outperform rating; 14.5 euros target  
    * Safran  SAF.PA : Investec raises to buy from ADD;raises target to 60 euros from 56 euros  
    * Saipem  SPMI.MI : Barclays cuts target to 12 euros from 20 euros; rating equal weight  
    * Saipem  SPMI.MI : Canaccord Genuity cuts to sell; cuts target price to 7.50 euros  
    * Santander  SAN.MC : Kepler Cheuvreux raises to buy from hold; cuts target to 6.70 euros 
    * Santander  SAN.MC : UBS cuts target price to 7 euros from 7.6 euros; rating neutral 
    * SBM Offshore  SBMO.AS : Barclays cuts target to 15.80 euros from 16.90 euros; overweight  
    * Schoeller Bleckmann  SBOE.VI : Canaccord Genuity cuts target to 55 euros; rating hold 
    * SeaDrill  SDRL.OL : Canaccord Genuity cuts target price to Nok 75; rating sell  
    * Senior  SNR.L : Investec cuts to sell from add  
    * SGS  SGSN.VX : Morgan Stanley cuts target to Sfr 2200 from Sfr 2300; rating equal weight 
    * Shire  SHP.L : S&P Capital IQ cuts to buy from strong buy  
    * Shire  SHP.L : S&P Capital IQ raises target price to 5,350p from 4,700p 
    * Solvay SA  SOLB.BR : Citigroup ups to neutral from sell;target to 105 euros from 81 euros  
    * SSAB  SSABa.ST : Deutsche Bank raises to buy from hold; cuts target to Sek 54 from Sek 66 
    * Standard Chartered  STAN.L : JP Morgan cuts target to 1125p from 1250p; rating neutral 
    * Standard Chartered  STAN.L : Jefferies cuts target to 722p from 730p; rating underperform  
    * Statoil  STL.OL : Swedbank cuts price target to Nok 150 from Nok 155; rating buy 
    * Straumann  STMN.S : Credit Suisse raises target to Sfr 300 from Sfr 270; rating outperform 
    * Subsea 7  SUBC.OL : Barclays cuts target to Nok 100 from Nok 115; rating equal weight  
    * SUBSEA 7  SUBC.OL : Canaccord Genuity cuts to hold; cuts target price to Nok 90   
    * Sulzer  SUN.S : Credit Suisse cuts target price to Sfr 89 from Sfr 98; rating underperform 
    * Surgutneftegas  SNGSyq.L : Renaissance Capital cuts to hold from buy   
    * Surgutneftegas  SNGSyq.L : Renaissance Capital cuts target price to $5.4 from $10 
    * Swatch Group  UHR.VX : UBS cuts target price to Sfr 475 from Sfr 520; rating neutral 
    * Swedish Match  SWMA.ST : Deutsche Bank raises target to Sek 220 from Sek 215; rating sell  
    * Symrise AG  SY1G.DE : Citigroup raises target to 52 euros from 47 euros; rating neutral  
    * TAG Immobilien  TEGG.DE : Berenberg raises target to 12 euros from 10 euros; rating buy 
    * Tatneft  TATNxq.L : Renaissance Capital cuts target price to $31 from $45; rating buy  
    * Technip  TECF.PA : Canaccord Genuity cuts target price to 65 euros; rating buy 
    * Telenor  TEL.OL : Credit Suisse raises target to Nok 155 from Nok 142; rating neutral 
    * Teliasonera  TLSN.ST : Berenberg cuts price target to Sek 46 from Sek 47.50; rating hold 
    * Temenos  TEMN.S : Vontobel raises target price to Sfr 50 from Sfr 40; rating buy 
    * Tesco  TSCO.L : JP Morgan raises price target to 185p from 145p; rating underweight 
    * TGS  TGS.OL : Barclays raises price target to Nok 210 from Nok 185; rating underweight 
    * TLG Immobilien  TLGG.DE : HSBC starts with overweight rating; target price of 15.9 euros 
    * Transocean  RIGN.VX : Canaccord Genuity cuts target price to Sfr 14.30; rating sell  
    * Turkish Airlines  THYAO.IS : Goldman Sachs cuts to neutral 
    * Turkish Airlines  THYAO.IS : Goldman Sachs raises price target to Tl 11.10 from Tl 9.30 
    * UBS AG  UBSN.S : SocGen raises price target to Sfr 25 from Sfr 23.5; rating buy   
    * Ultra Electronics  ULE.L : Investec cuts price target to 2000p from 2100p; rating buy 
    * Unilever Plc  ULVR.L : Exane BNP Paribas raises target to 2900p from 2800p; outperform  
    * Uralkali  URKAq.L : Citigroup cuts target price to $11.50 from $18; rating neutral  
    * Victrex Plc  VCTX.L : Citigroup cuts to neutral from buy   
    * Victrex Plc  VCTX.L : Citigroup raises target price to 2200p from 2100p 
    * Vontobel  VONN.S : Credit Suisse cuts to neutral from outperform 
    * Vopak  VOPA.AS : Rabobank raises price target to 47.50 euros from 37 euros; rating hold 
    * Weir Group  WEIR.L : Canaccord Genuity cuts target price to 2200p from 2340p; rating buy 
    * Wood Group  WG.L : Barclays cuts to equal weight from overweight   
    * Wood Group  WG.L : Barclays cuts price target to 850p from 1025p 
    * Yara International ASA  YAR.OL : Citigroup raises target to Nok 375 from Nok 315; neutral 
    * Yara  YAR.OL : UBS raises price target to Nok 380 from Nok 316; rating hold 
    * Zeltia  ZEL.MC : Oriel starts with a buy rating; 4.42 euros target price 
 
 
 (Compiled by Eileen Anupa Soreng and Jai Ganesh in Bengaluru) 
 ((eileen.soreng@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. + 91 80 6749 
6131; Reuters messaging: eileen.soreng.thomsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/