EUROPE RESEARCH ROUNDUP: Belgacom, Easyjet, Mobistar SA, Ashmore Group

Akenerji Elektrik Uretim AS

31/01/2014 12:54

Jan 31 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Belgacom, Easyjet and Mobistar SA, on Friday.  
     
    HIGHLIGHTS 
    * Belgacom SA  BCOM.BR : JP Morgan raises to overweight from neutral  
    * Easyjet  EZJ.L : Jefferies raises price target to 1800p from 1620p 
    * British American Tobacco  BTIJ.J : Renaissance Capital target to 600 rand from 555 rand  
    * Tod's SpA  TOD.MI : Cantor cuts to sell from hold 
    * Ashmore Group  ASHM.L : Berenberg 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.    
     
    * Aberdeen Asset Management  ADN.L : Berenberg cuts target to 530pfrom 555p; rating buy 
    * Aeroports De  ADP.PA : Citigroup ups target to 94.50 euros from 88.50 euros; rating buy  
    * Air liquide  AIRP.PA : Exane BNP Paribas cuts target price by 2 percent to 105 euros  
    * Arcam  ARCM.ST : Canaccord Genuity raises target to Sek 325 from Sek 275; rating buy 
    * Akenerji  AKENR.IS : HSBC cuts to neutral from overweight 
    * Akenerji  AKENR.IS : HSBC cuts price target to Tl 1.20 from Tl 1.80  
    * Akzo Nobel  AKZO.AS : Exane BNP Paribas cuts to neutral from outperform rating  
    * ARM Holdings  ARM.L : Credit Suisse cuts target to 1100p from 1150p; rating outperform 
    * Ashmore Group  ASHM.L : Berenberg cuts to hold from buy  
    * Ashmore Group  ASHM.L : Berenberg cuts price target to 375p from 470p  
    * Atlas Copco  ATCOa.ST : JP Morgan cuts target to Sek 181 from Sek 188; rating over weight 
    * BAE Systems  BAES.L : Barclays raises price target to 380p from 370p; rating underweight 
    * Banco Santander  SAN.MC : Deutsche Bank cuts price target to 5.24 euros from 5.50 euros 
    * Barratt Developments  BDEV.L : Jefferies cuts price target to 466p from 474p; rating buy 
    * BASF  BASFn.DE : Exane BNP Paribas ups target by 5 pct to 82 euros ; rating outperform  
    * Belgacom SA  BCOM.BR : JP Morgan raises to overweight from neutral    
    * Belgacom SA  BCOM.BR : JP Morgan raises price target to 24 euros from 19 euros  
    * Berkeley  BKGH.L : Jeffeires raises price target to 2477p from 2459p; rating hold 
    * Beneteau  CHBE.PA : SocGen cuts price target to 13 euros from 13.4 euros; rating hold 
    * Bellway  BWY.L : Jefferies raises price target to 2085p from 1954p; rating buy 
    * Belgacom  BCOM.BR : JP Morgan raises to overweight from neutral 
    * Belgacom  BCOM.BR : JP Morgan raises target price to 24 euros from 19 euros 
    * Bovis Homes Group  BVS.L : Jefferies raises price target to 1036p from 987p; rating buy 
    * British American Tobacco  BATS.L : Renaissance Capital raises to buy from hold 
    * British American Tobacco  BATS.L : Renaissance Capital raises target to 3650p from 3500p 
    * British American Tobacco  BTIJ.J : Renaissance Capital raises to buy from hold 
    * British American Tobacco  BTIJ.J : Renaissance Capital target to 600 rand from 555 rand  
    * British American Tobacco  BATS.L : Goldman Sachs cuts target to3420p from 4120p; buy 
    * Bucher  BUCN.S : Vontobel raises price target to Sfr 270 from Sfr 255; rating hold 
    * Burckhardt  BCHN.S : UBS raises to buy from neutral; target price to Sfr 520 from Sfr 360  
    * Buzzi Unicem  BZU.MI : UBS raises target to euros 14 from euros 13.5; rating neutral  
    * Christian Dior  DIOR.PA : Raymond James cuts target to 147 euros from 164 euros  
    * Clariant  CLN.VX : Exane BNP Paribas ups target by 7 pct to 14.4 Sfr; rating underperform  
    * CNH Industrial NV  CNHI.MI : JP Morgan cuts target to $11 from $12; rating underweight 
    * Croda International  CRDA.L : Exane BNP Paribas cuts target by 2pct to 3000p; outperform 
    * Coloplast  COLOb.CO : SocGen raises target price to Dkk 400 from Dkk 350; rating hold  
    * Diageo  DGE.L : Raymond James cuts price target to 2095p from 2200p; rating outperform 
    * Diageo PLC  DGE.L : Oriel Securities cuts price target to 1950p from 2250p; rating buy 
    * Diageo PLC  DGE.L : Goldman Sachs cuts to neutral from conviction-list buy  
    * Diageo PLC  DGE.L : Goldman Sachs cuts price target to 1996p from 2660p 
    * Diageo PLC  DGE.L : Nomura cuts target price to 2050p from 2200p; rating buy  
    * Domino's Pizza Group  DOM.L : Credit Suisse raises to outperform from neutral 
    * Draegerwerk AG  DRWG.DE : Deutsche Bank raises price target to 90 euros from 87 euros 
    * E.ON Russia  EONR.MM : HSBC ups target to 3.18 roubles from 3.12 roubles; overweight 
    * Easyjet  EZJ.L : Jefferies raises price target to 1800p from 1620p; rating buy  
    * ElringKlinger  ZILGn.DE : Berenberg cuts target to 27.50 euros from 32 euros; rating hold 
    * Enel OGK-5  OGKE.MM : HSBC cuts to neutral from overweight 
    * Enel OGK-5  OGKE.MM : HSBC cuts price target to 1.34 roubles from1.54 roubles 
    * Ericsson  ERICb.ST : UBS raises to buy from neutral; price target to Sek 90 from Sek 85  
    * Ericsson  ERICb.ST : S&P Capital IQ cuts to hold from buy rating  
    * Faurecia  EPED.PA : HSBC raises price target to 30 euros from 26 euros; rating neutral 
    * Ferrovial  FER.MC : Citigroup raises target to 15.80 euros from 15.20 euros; rating buy 
    * Fraport  FRAG.DE : Citigroup raises price target to 69 euros from 60 euros; rating buy  
    * Garanti Bank  GARAN.IS : SocGen cuts price target to Tl 6.3 from Tl 8; rating hold 
    * Givaudan  GIVN.VX : HSBC raises price target to Sfr 1420 from Sfr 1320; rating neutral 
    * Givaudan  GIVN.VX : Deutsche Bank raises price target to Sfr 1320 from Sfr 1300 
    * Great Portland Estates  GPOR.L : Deutsche Bank raises price target to 480p from 460p 
    * Henderson Group  HGGH.L : Berenberg raises target price to 210p from 165p; rating hold  
    * Holcim  HOLN.VX : UBS cuts target price to Sfr 65 from Sfr 66; rating neutral  
    * Imperial Tobacco Group  IMT.L : Renaissance Capital cuts target to2400p from 2450p; hold 
    * Imperial Tobacco Group  IMT.L : Goldman Sachs raises to buy from neutral 
    * Imperial Tobacco Group  IMT.L : Goldman Sachs raises price target to 2840p from 2545p  
    * Infineon  IFXGn.DE : Socgen ups target to 7.8 euros from 7 euros; hold 
    * Infineon  IFXGn.DE : HSBC raises to overweight from neutral 
    * Infineon  IFXGn.DE : HSBC raises price target to 8.5 euros from 7.6 euros  
    * Infineon  IFXGn.DE : Deutsche Bank raises price target to 7.6 euros from 7.5 euros 
    * Inter RAO YEES  IRAO.MM : HSBC raises to overweight from neutral 
    * Inter RAO YEES  IRAO.MM : HSBC raises price target to 0.01 roubles from 0.02 roubles  
    * Jenoptik  JENG.DE : HSBC raises target to 13.30 euros from 12.30 euros; rating neutral 
    * Jupiter Fund Management  JUP.L : Berenberg raises target to 410p from 385p; rating hold  
    * Kuka AG  KU2G.DE : Commerzbank raises price target to 43 euros from 40 euros; rating buy  
    * Lanxess  LXSG.DE : Commerzbank raises to add rating 
    * Lanxess  LXSG.DE : Exane BNP Paribas cuts target by 6 pct to 47 euros; rating neutral  
    * Leoni  LEOGn.DE : Deutsche Bank raises target to 53 euros from 44 euros; rating hold  
    * Lundin Petroleum  LUPE.ST : SocGen cuts price target to Sek 150 from Sek 155; rating buy 
    * Lundin Petroleum  LUPE.ST : UBS raises to neutral from sell  
    * LVMH  LVMH.PA : Raymond James cuts target to euros 152 from euros 167; ratingoutperform 
    * LVMH  LVMH.PA : Renaissance Capital cuts price target by 6 euros to 150 euros; rating buy 
    * Man Group  EMG.L : Berenberg cuts price target to 70p from 80p; rating sell  
    * Mobistar SA  MSTAR.BR : JP Morgan raises target to 15 euros from 12 euros; rating neutral 
    * National Grid PLC NG.L : HSBC raises to overweight from neutral 
    * National Grid PLC NG.L : HSBC raises price target to 880p from 860p 
    * NCC  NCCb.ST : HSBC raises to overweight from neutral 
    * Nokia  NOK1V.HE : HSBC raises target price to 5.20 euros from 4.80 euros; rating neutral 
    * Norma Group  NOEJ.DE : Deutsche Bank raises target to 44 euros from 40 euros; rating buy  
    * Novo Nordisk  NOVOb.CO : Bernstein ups target to Dkk 230 from Dkk 200; market perform  
    * Novo Nordisk  NVO.O : Bernstein raises target to $43 from $36; rating market perform 
    * Novo Nordisk  NOVOb.CO : SocGen raises price target to Dkk 171 from Dkk 160; rating sell 
    * OC Oerlikon  OERL.S : Vontobel raises price target to Sfr 16 from Sfr 15; rating buy 
    * Osram Licht  OSRn.DE : Berenberg target to 49.80 euros from 47.90 euros; rating buy 
    * Persimmon  PSN.L : Jefferies raises price target to 1329p from 1310p; rating hold 
    * Philip Morris International  PM.N  Renaissance Capital cuts target to $91 from $95; buy 
    * Public Power  DEHr.AT : HSBC ups target to 15.50 euros from 15 euros; rating overweight  
    * Raiffeisen Bank  RBIV.VI : JP Morgan raises to overweight from neutral 
    * Raiffeisen Bank  RBIV.VI : JP Morgan raises target price to 37 euros from 31 euros 
    * Renishaw  RSW.L : UBS raises target price to 1900p from 1600p; rating neutral  
    * Roche Holding  ROG.VX : SocGen cuts target price to Sfr 311 from Sfr 312; rating buy  
    * RusHydro  HYDR.MM : HSBC cuts rating to neutral from overweight 
    * RusHydro  HYDR.MM : HSBC target price to 0.62 roubles from 0.75 roubles 
    * Ryanair Holdings  RYA.I : Jefferies raises target to 8 euros from 7.50 euros; rating buy 
    * Santander  SAN.MC : Nomura cuts target price to euros 5.80 from euros 6; rating neutral  
    * Sartorius  SATG_p.DE : Berenberg raises target to 110 euros from 92euros; rating buy 
    * Schroders  SDR.L : Berenberg raises to buy from hold 
    * Schroders  SDR.L : Berenberg raises price target to 3050p from 2550p 
    * Serco Group  SRP.L : Berenberg cuts price target to 410p from 445p; rating hold  
    * Serco Group  SRP.L : JP Morgan cuts to neutral from overweight 
    * Serco Group  SRP.L : JP Morgan cuts target price to 463p from 575p 
    * Solvay  SOLB.BR : Exane BNP Paribas cuts target by 3 percent to 112 euros; rating neutral  
    * Symrise  SY1G.DE : Exane BNP Paribas cuts target by 3 pct to 36 euros; rating outperform  
    * Syngenta  SYNN.VX : Berenberg cuts price target to Sfr 450 from Sfr 500; rating buy 
    * Taylor Wimpey  TW.L : Jefferies cuts price target to 135p from 141p; rating buy 
    * Telenet Group  TNET.BR : JP Morgan ups target to 48 euros from 44 euros; overweight 
    * TeliaSonera  TLSN.ST : Berenberg cuts target price to Sek 42 from Sek 46; rating hold 
    * TeliaSonera  TLSN.ST : HSBC cuts target to Sek 57.50 from Sek 61.40; rating overweight  
    * Telenet  TNET.BR : JP Morgan raises target to 48 euros from 44 euros; rating overweight 
    * TeliaSonera  TLSN.ST : Deutsche Bank cuts price target to Sek 41 from Sek 42    
    * TeliaSonera  TLSN.ST : Nomura cuts target price to Sek 49 from Sek 52; rating neutral  
    * Tod's SpA  TOD.MI : Cantor cuts to sell from hold 
    * Tod's SpA  TOD.MI : Cantor cuts price target to 95 euros from 117 euros       
    * Tryg A/S  TRYG.CO : JP Morgan raises price target to Dkk 523 from Dkk 515; rating neutra 
    * Tyman  TYMN.L : Numis starts with add rating  
    * Ulker  ULKER.IS : HSBC cuts price target to Tl 16 from Tl 16.70; rating neutral  
    * Umicore  UMI.BR : Exane BNP Paribas cuts target by 1 pct to 34 euros; rating neutral  
    * Valeo  VLOF.PA : Deutsche Bank raises price target to 92 euros from 80 euros; rating buy 
    * Vienna Airport  VIEV.VI : Citigroup raises target to 69 euros from 62 euros; rating buy 
    * Zorlu Enerji  ZOREN.IS : HSBC cuts price target to Tl 1.10 from Tl 1.50;rating neutral 
    * Zurich Airport  FHZN.S : Citigroup raises target to Sfr 600 from Sfr 535; rating buy  
 
 
 (Compiled by Fareha Khan and Archana Lakshmi Narasiah in Bangalore) 
 ((fareha.khan@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. + 91 80 6677 
1190)(Reuters messaging:fareha.khan.thomsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/