EUROPE RESEARCH ROUNDUP: Deutsche Telekom, BT Group, SAS AB
11/11/2013 20:32
Nov 11 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including SAS AB and BT Group, on Monday.
HIGHLIGHTS
* Deutsche Telekom AG DTEGn.DE : Goldman Sachs cuts to sell from neutral
* BT Group BT.L : JP Morgan raises to overweight from neutral
* Associated British Foods ABF.L : Barclays cuts to equal weight from overweight
* RSA Insurance Group RSA.L : RBC cuts to underperform from sector perform
* SAS AB SAS.ST : HSBC cuts to underweight from neutral
* British Sky Broadcasting Group BSY.L : Nomura, S&P Capital IQ cut rating on the stock
Following is a summary of research actions on European companies reported by Reuters on Monday.
Stock entries are in alphabetical order.
* Adidas AG ADSGn.DE : Credit Suisse raises target to 97 euros from 92 euros; outperform
* Aker Solutions ASA AKSO.OL : Barclays cuts target to Nok 102 from Nok 105; underweight
* Allianz SE ALVG.DE : Berenberg raises target to 150 euros from 144 euros; rating buy
* Allianz SE ALVG.DE : Canaccord Genuity raises target to 140 euros from 135 euros; buy
* Allianz SE ALVG.DE : Natixis raises target price to 135 euros from 132 euros; rating buy
* Alphaform ATFG.DE : Close Brothers Sydler ups target to 3.50 euros from 2.80 euros; buy
* AMAG AMAV.VI : JP Morgan cuts price target to 23 euros from 24 euros; rating neutral
* Anglo American AAL.L : Renaissance Capital starts with hold; target price 1600p
* Associated British Foods ABF.L : Barclays cuts to equal weight from overweight
* Associated British Foods ABF.L : Barclays ups target to 2350p from 2100p
* Atlantia SpA ATL.MI : Natixis raises target to 15 euros from 12 euros; rating neutral
* BHP Billiton BLT.L : Renaissance Capital starts with buy; price target 2300p
* British Land Company BLND.L : Deutsche Bank cuts to sell from hold
* British Sky Broadcasting Group BSY.L : Nomura cuts to reduce from buy
* British Sky Broadcasting Group BSY.L : Nomura cuts target to 850p from 1040p
* British Sky Broadcasting Group BSY.L : S&P Capital IQ cuts to sell from buy
* British Sky Broadcasting Group BSY.L : S&P Capital IQ cuts target to 700p from 1050p
* BSkyB BSY.L : Goldman Sachs cuts price target to 1070p from 1120p; rating buy
* BT Group BT.L : JP Morgan raises to overweight from neutral
* BT Group BT.L : JP Morgan raises price target to 420p from 380p
* BT Group BT.L : UBS cuts target price to 290p from 310p; rating sell
* BT Group BT.L : Citigroup raises target price to 430p from 400p; rating buy
* BT Group BT.L : Berenberg cuts price target to 411p from 415p; rating buy
* Buzzi Unicem SpA BZU.MI : Natixis raises target to 12.5 euros from 11 euros; neutral
* Cable and Wireless Communications CWC.L : Jefferies ups target to 48p from 45p; hold
* Catlin Group Ltd CGL.L : RBC cuts target price to 575p from 600p; rating outperform
* Celtic CCP.L : Canaccord Genuity starts with buy; price target 103p
* Cloetta AB CLOEb.ST : Deutsche Bank starts with hold rating; target price Sek 21
* CNH Industrial NV CNHI.MI : Berenberg cuts target to $8.50 from $9.30; sell
* Coastal Energy CEO.L : TD Securities cuts price target to $25 from $26; rating buy
* Cobham COB.L : JP Morgan cuts target price to 270p from 310p; rating neutral
* Cobham COB.L : Investec cuts target price to 230p from 275p; rating sell
* Continental AG CONG.DE : Barclays ups target to 156 euros from 124 euros; overweight
* Credit Agricole CAGR.PA : S&P Capital IQ raises target to 9.6 euros from 9 euros; rating
* DMG Mori Seiki AG GILG.DE : Berenberg cuts target to 22 euros from 23 euros; hold
* Deutsche Telekom AG DTEGn.DE : Goldman Sachs cuts to sell from neutral
* Deutsche Telekom AG DTEGn.DE : Goldman Sachs cuts target to 9.5 euros from 11 euros
* Dialight DIAL.L : Peel Hunt cuts target price to 1150p from 1240p; rating buy
* EI Towers SpA EIT.MI : Berenberg raises to buy from hold
* EI Towers SpA EIT.MI : Berenberg raises target to 39 euros from 29 euros
* Etalon Group Ltd ETLNGq.L : Credit Suisse raises to outperform from neutral
* Etalon Group Ltd ETLNGq.L : Credit Suisse raises price target to $7.40 from $3.70
* FCC FCC.MC : Exane BNP Paribas cuts to underperform from neutral
* FCC FCC.MC : Exane BNP Paribas ups target to 14 euros from 9.7 euros
* Fonciere des Regions SA FDR.PA : HSBC raises target to 70 euros from 67 euros; neutral
* Flybe FLYB.L : Liberum starts with buy; price target 90p
* Gamesa Corporacion Tecnologica GAM.MC : S&p equity raises target to 7.70 euros from 6
* Gemfields GEM.L : Investec raises target price to 37.5p from 30p; rating buy
* Glencore Xstrata GLEN.L : Renaissance Capital starts with sell; price target 320p
* Halfords Group HFD.L : Barclays raises target to 435p from 360p; equal weight
* Heidelbergcement AG HEIG.DE : JP Morgan cuts target to 61 euros from 63 euros;overweight
* Heidelbergcement AG HEIG.DE : UBS cuts target to 57 euros from 61 euros; neutral
* Heidelberger HDDG.DE : Commerzbank ups target to 3.50 euros from 2.40 euros; buy
* Heidelberger HDDG.DE : DZ Bank raises target price to 3.20 euros from 2.50 euros; buy
* Heineken NV HEIN.AS : HSBC cuts target to 53 euros from 58 euros; neutral
* Henderson Group HGGH.L : Peel Hunt raises target to 220p from 180p; rating hold
* ING ING.AS : Citigroup raises target to 11 euros from 10.20 euros; rating buy
* Inmarsat ISA.L : RBC cuts price target to 725p from 730p; rating sector perform
* International Consolidated Airlines ICAG.L : HSBC raises target to 420p from 405p
* International Consolidated Airlines ICAG.MC : Citigroup ups target to 6.40 euros
* International Consolidated Airlines ICAG.L : Natixis ups target to 400p from 300p
* International Consolidated Airlines ICAG.L : Credit Suisse ups target to 443p from 345p
* International Personal Finance IPF.L : RBC cuts target to 695p from 700p; outperform
* Irish Continental ICG_u.I : Investec ups target to 28.55 euros from 25.80 euros; buy
* ITV Plc ITV.L : Goldman Sachs cuts price target to 237p from 240p; rating buy
* ITV PLC ITV.L : Citigroup cuts to neutral from buy; raises target to 191p from 180p
* Lloyds Banking Group LLOY.L : Numis raises to add from hold
* London Mining LOND.L : Renaissance Capital raises target to 230p from 200p; buy
* Megafon MFONq.L : JP Morgan cuts price target to $38 from $38.5; rating overweight
* Munich Re MUVGn.DE : JP Morgan raises target to 172 euros from 163 euros; overweight
* Mts MBT.N : JP Morgan cuts price target to $26 from $27; rating overweight
* Norwegian Air Shuttle ASA NWC.OL : HSBC cuts to underweight from neutral
* OPAP OPAr.AT : UBS raises target price to 9.80 euros from 6.70 euros; neutral
* Prosiebensat 1 Media AG PSMGn.DE : Commerzbank raises to buy from hold
* Prosiebensat 1 Media AG PSMGn.DE : Commerzbank raises target to 40 euros from 30 euros
* PSI PSAGn.DE : DZ Bank raises target price to 14.10 euros from 13 euros; rating buy
* Puma SE PUMG.DE : JP Morgan cuts target to 210 euros from 216 euros; rating neutral
* Reed Elsevier NV ELSN.AS : Barclays ups target to 17.90 euros from 16.85 euros
* Reed Elsevier REL.L : Barclays raises target to 965p from 935p; overweight
* Rentokil Initial RTO.L : Barclays raises target to 117p from 112p; overweight
* Rentokil Initial RTO.L : JP Morgan raises price target to 86p from 75p; underweight
* Repsol SA REP.MC : Citigroup raises target price to 21 euros from 20 euros; rating buy
* Repsol SA REP.MC : Investec cuts to hold from buy
* Rheinmetall AG RHMG.DE : HSBC raises target to 53 euros from 52 euros; overweight
* Rheinmetall AG RHMG.DE : S&P Capital IQ raises target to 48 euros from 44 euros; buy
* Richemont SA CFR.VX : Cantor cuts target to Sfr 88 from Sfr 90; hold
* Rio Tinto RIO.L : Renaissance Capital starts with hold; price target 1490p
* Rostelekom RTKM.MM : JP Morgan raises target to 145 roubles from 136 roubles; neutral
* Royal Bank of Scotland RBS.L : Jefferies ups target to 441p from 390p; buy
* RSA Insurance Group RSA.L : RBC cuts to underperform from sector perform
* RSA Insurance Group RSA.L : RBC cuts target to 100p from 120p
* RSA Insurance Group RSA.L : Citigroup cuts to neutral from buy
* RSA Insurance Group RSA.L : Citigroup cuts target to 126p from 146p
* RSA Insurance Group RSA.L : Credit Suisse cuts to underperform from neutral
* RSA Insurance Group RSA.L : Credit Suisse cuts target price to 110p from 125p
* RSA Insurance Group RSA.L : Canaccord Genuity cuts to sell rating
* RSA Insurance Group RSA.L : Canaccord Genuity cuts target price to 100p from 115p
* RSA Insurance Group RSA.L : JP Morgan cuts to neutral from overweight
* RSA RSA.L : Panmure cuts price target to 98p from 117p; sell
* SAS AB SAS.ST : HSBC cuts to underweight from neutral
* SES SA SESFd.PA : Barclays ups target to 21.70 euros from 20.15; underweight
* Shire SHP.L : Panmure raises target price to 3100p from 2850p; rating buy
* Shire SHP.L : S&P Capital IQ raises target price to 3200p from 3100p; rating buy
* Siemens AG SIEGn.DE : Canaccord Genuity raises target to 90 euros from 80 euros; hold
* Siemens AG SIEGn.DE : DZ Bank raises fair value to 115 euros from 100 euros; rating buy
* Sistema SSAq.L : JP Morgan raises price target to $37 from $34; rating overweight
* Skanska SKAb.ST : S&P Capital IQ raises target to Sek 125 from Sek 120; rating hold
* SMA Solar Technology S92G.DE : Citigroup ups target to 26 euros from 17.20 euros; sell
* Sodexo SA EXHO.PA : Barclays raises target to 71 euros from 66 euros; underweight
* Software AG SOWG.DE : HSBC raises to overweight from neutral
* Solvay SA SOLB.BR : UBS cuts target to 134 euros from 143 euros; rating buy
* SQS Software Quality SQSGn.F : Panmure raises target to 386p from 309p; rating hold
* Straumann STMN.S : UBS raises price target to Sfr 165 from Sfr 143; rating neutral
* Suedzucker SZUG.DE : Barclays cuts target to 20 euros from 25 euros; rating underweight
* Swisscom AG SCMN.VX : Vontobel raises target to Sfr 485 from Sfr 410; hold
* TalkTalk TALK.L : UBS adds to least preferred list in European telecom; rating sell
* TAV Havalimanlari TAVHL.IS : Renaissance raises target to Tl 15.90 from Tl 13.60; buy
* TEFD O2Dn.DE : UBS adds to most preferred list in European telecom; rating buy
* Telecom Italia TLIT.MI : S&P raises target to 0.75 euros from 0.60 euros; rating hold
* Telecom Italia SpA TLIT.MI : JP Morgan ups target to 0.65 euros from 0.60 euros; neutral
* Telecom Italia TLITn.MI : JP Morgan ups target to 0.55 euros from 0.51 euros; neutral
* The Paragon Group of Companies PARA.L : RBC raises to outperform from sector perform
* The Paragon Group of Companies PARA.L : RBC raises target to 390p from 350p
* Tullett Prebon TLPR.L : UBS cuts target price to 290p from 315p; rating sell
* Turk Telecom TTKOM.IS : HSBC raises target to Tl 7.2 from Tl 6.8; neutral
* Vallourec SA VLLP.PA : Credit Suisse cuts target to 53 euros from 57 euros; outperform
* Voestalpine AG VOES.VI : Commerzbank ups target to 33 euros from 29 euros; rating hold
* Verona Pharma VRP.L : N+1 Singer starts with buy; price target 5.1p
* Wincanton WIN.L : Investec cuts to hold from buy; raises target price to 122p from 75p
(Compiled by Rachel Chitra and Sampad Patnaik in Bangalore)
((sampad.patnaik@thomsonreuters.com)(Within U.S. +1 646 223 8780, outside U.S. +91 80 6749
6378)(Reuters Messaging: sampad.patnaik.thomsonreuters.com@reuters.net))
Keywords: RESEARCH EUROPE/