EUROPE RESEARCH ROUNDUP: Volkswagen, Deutsche Telekom, Adidas

Amsc ASA

14/01/2014 15:45

Jan 14 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Volkswagen and Swisscom, on Tuesday.  
     
    HIGHLIGHTS 
    * Volkswagen AG  VOWG_p.DE : UBS cuts to sell from neutral 
    * Adidas AG  ADSGn.DE : ESN/Equinet raises to buy; raises target to 110 euros from 85 euros 
    * Deutsche Telekom  DTEGn.DE : Raymond James cuts to market perform from outperform 
    * ASML Holding NV  ASML.AS : Credit Suisse cuts to neutral from outperform  
    * Aeroports De Paris  ADP.PA : Barclays cuts to underweight rating  ID:nWNAB040GO    
       
Following is a summary of research actions on European companies reported by Reuters on Tuesday. 
Stock entries are in alphabetical order.  
     
    * A.P. Moller-Maersk  MAERSKb.CO : Danske Bank raises target to DKK 78,000; rating buy  
    * Abertis  ABE.MC : Barclays raises target to 16 euros from 13 euros; underweight 
    * Abertis Infraestructuras Sa  ABE.MC : Barclays raises target to 16 euros; underweight  
    * Adidas AG  ADSGn.DE : ESN/Equinet raises to buy; raises target to 110 euros from 85 euros 
    * Aeroports De Paris Sa  ADP.PA : Barclays cuts to underweight from equal weight 
    * Aeroports De Paris Sa  ADP.PA : Barclays raises target to 88 euros from 70 euros 
    * Aker Solutions ASA  AKSO.OL : Berenberg raises target to Nok 129 from Nok 115; buy 
    * Alcatel Lucent  ALUA.PA : Goldman Sachs raises target to 4 euros from 2.47 euros; neutral  
    * Alcatel Lucent SA  ALUA.PA : ESN/CM CIC raises target to 4 euros from 3 euros; buy 
    * Alent PLC  ALNT.L : UBS cuts price target to 340p from 350p; rating neutral 
    * Alliance Pharma  ALAPH.L : Canaccord Genuity raises target to 38p from 33p; hold 
    * Alliance Pharma  ALAPH.L : Investec cuts to sell from reduce; cuts target to 30p from 33p 
    * Alliance Pharma  ALAPH.L : Numis cuts target by 3p to 38p; cuts to hold  
    * Alpha Bank SA  ACBr.AT : Renaissance Capital starts with sell 
    * Amec PLC  AMEC.L : Nomura raises price target to 1280p from 1230p; buy 
    * American Shipping  AMSCA.OL : Imperial capital raises target to Nok 60; outperform 
    * Amerisur Resources PLC  AMER.L : Investec raises target to 75p from 73p; rating buy 
    * Andritz AG  ANDR.VI : Citigroup cuts target to 51.50 euros from 53.50 euros; rating buy 
    * Andritz AG  ANDR.VI : Deutsche Bank cuts target to 45 euros from 46 euros; hold 
    * Antofagasta  ANTO.L : S&P Capital IQ cuts target to 700p from 800p; rating sell 
    * AP Moeller Maersk A/S  MAERSKb.CO : Deutsche Bank raises target to Dkk 72,700; buy 
    * ASML Holding NV  ASML.AS : Credit Suisse cuts target to 68 euros from 75 euros 
    * ASML Holding NV  ASML.AS : Credit Suisse cuts to neutral from outperform  
    * Asos PLC  ASOS.L : Cantor raises target to 7200p from 4700p; rating hold 
    * Asos PLC  ASOS.L : Peel Hunt cuts to hold; raises price target to 6900p 
    * Associated British Foods  ABF.L : Exane BNP Paribas raises target to 2800p; outperform 
    * AstraZeneca PLC  AZN.N : Leerink raises to outperform, raises target to $68 from $55 
    * Atlantia Spa  ATL.MI : Barclays raises target to 19 euros from 17 euros; overweight 
    * Avance Gas Holding  AGHL.NFF : Wells Fargo starts with outperform rating  
    * Aveva Group PLC  AVV.L : Investec raises to buy; raises target to 2900p from 2500p 
    * Banco Espirito Santo SA  BES.LS : ESN/Caxia Bank cuts to hold from accumulate  
    * Banco Espirito Santo SA  BES.LS : ESN/Caxia raises target to 1.15 euros from 0.95 euros 
    * Banco Popular  POP.MC : SocGen cuts to hold from buy 
    * Barratt Developments  BDEV.L : Liberum raises target to 430p from 387p; buy 
    * Barratt Developments PLC  BDEV.L : Peel Hunt raises target to 385p; hold 
    * Beiersdorf AG  BEIG.DE : ESN/Equinet raises target to 64 euros from 56 euros; rating sell 
    * Belgacom  BCOM.BR : Raymond James raises target to 18.50 euros; underperform  
    * Beter Bed  BETR.AS : ING raises to buy, raises target to 21.50 euros from 13.50 euros 
    * Bhp Billiton PLC  BLT.L : Deutsche Bank cuts price target to 2400p from 2500p 
    * Bhp Billiton PLC  BLT.L : JP Morgan raises target to 2250p from 2150p; neutral 
    * Blinkx PLC  BLNX.L : Jefferies cuts to hold from buy 
    * British Sky Broadcasting Group  BSY.L : UBS raises to buy; adds to European key call list 
    * Brunello Cucinelli SpA  BCU.MI : Nomura cuts to reduce; cuts target to 20 euros  
    * BT Group  BT.L : Exane BNP Paribas cuts to underperform; raises target to 340p from 277p 
    * Buzzi Unicem SpA  BZU.MI : Berenberg raises target to 12.30 euros; rating sell  
    * BW LPG  BWLPG.OL : Wells Fargo starts with outperform rating  
    * Cap Gemini SA  CAPP.PA : Goldman Sachs raises target to 65 euros from 61 euros; buy  
    * Celesio AG  CLSGn.DE : Jefferies cuts target to 19 euros from 23 euros; rating hold 
    * Centrica PLC  CNA.L : Credit Suisse raises target to 310p from 300p; rating underperform 
    * Centrica PLC  CNA.L : Morgan Stanley cuts target to 340p from 380p; equal weight 
    * CGG Veritas  GEPH.PA : ESN/CM CIC raises target to 23.50 euros from 19.50 euros 
    * CGG Veritas  GEPH.PA : ESN/CM CIC Securities cuts to accumulate from buy 
    * Cinema City  CCI.WA : Erste Group Research cuts to hold from accumulate 
    * Continental AG  CONG.DE : Natixis raises target to 154 euros from 138 euros; neutral 
    * Countrywide PLC  CWD.L : Numis raises target price to 690p; rating add 
    * CSR PLC  CSR.L : JP Morgan raises price target to 750p from 650p; overweight 
    * Daimler AG  DAIGn.DE : Nomura raises price target to 60 euros from 55 euros; neutral  
    * Danone SA  DANO.PA : Jefferies cuts target to 47 euros from 50 euros; hold 
    * Deutsche Lufthansa AG  LHAG.DE : HSBC raises target to 22 euros; overweight 
    * Deutsche Telekom  DTEGn.DE : Raymond James cuts to market perform from outperform 
    * Dialog Semiconductor  DLGS.DE : HSBC raises target to 18 euros; overweight 
    * Dialog Semiconductor  DLGS.DE : Natixis raises target to 19 euros from 18 euros; buy  
    * Dorian LPG  DORIAN.NFF : Wells Fargo startswith outperform  
    * EasyJet  EZJ.L : Credit Suisse raises to outperform; raises price target to 1988p 
    * EasyJet  EZJ.L : UBS raises target price to 2000p from 1560p; rating buy 
    * Easyjet PLC  EZJ.L : UBS raises target price to 2000p from 1560p; buy 
    * Edp Energias de Portugal SA  EDP.LS : ESN/CM CIC price target 3.20 euros 
    * Edp Energias de Portugal SA  EDP.LS : ESN/CM CIC reinitiates with accumulate rating  
    * Ericsson  ERICB.ST : Goldman Sachs cuts target price to sek 100 from sek 110; rating buy  
    * Ericsson  ERICb.ST : Goldman Sachs cuts target to Sek 100 from Sek 110; rating buy 
    * Faurecia SA  EPED.PA : JP Morgan raises to overweight; raises target to 33 euros  
    * Fortum Oyj  FUM1V.HE : Morgan Stanley cuts to underweight from equal weight 
    * Fraport  FRAG.DE : Barclays cuts to equal weight from overweight  
    * Fraport  FRAG.DE : Barclays raises target price to 58 euros from 52 euros  
    * GDF Suez SA  GSZ.PA : Citigroup cuts target to 18 euros from 19 euros;rating neutral. 
    * Gemalto NV  GTO.AS : Goldman Sachs adds to conviction buy list 
    * Global Ports Investments  GLPRq.L : Deutsche Bank reinstates with hold; price target  
    * Greenko Group PLC  GKO.L : Investec starts with buy rating; price target 165p 
    * Grifols SA  GRLS.MC : Berenberg raises target to 39.45 euros from 32.10 euros; buy 
    * Groupe Eurotunnel Sa  GETP.PA : Barclays raises target to 8.40 euros from 6.20 euros 
    * Groupe Eurotunnel Sa  GETP.PA : Barclays raises to equal weight from underweight  
    * Hargreaves Lansdown  HRGV.L : Morgan Stanley raises target price to 1670p from 1113p 
    * Hargreaves Lansdown  HRGV.L : Morgan Stanley raises to overweight from equal weight 
    * Havas SA  EURC.PA : HSBC cuts target to 6.5 euros from 6.7 euros; neutral 
    * Hexagon AB  HEXAb.ST : Goldman Sachs adds to conviction buy list 
    * Hugo Boss  BOSSn.DE : Nomura cuts to reduce; cuts price target to 95 euros from 100 euros  
    * Ideagen PLC  IDEA.L : Finncap raises target to 36p from 32p 
    * Infineon  IFXGn.DE : Goldman Sachs cuts to neutral; target to 9 euros from 9.6 euros  
    * Infineon  IFXGn.DE : UBS raises price target to 8.5 euros from 7.9 euros; buy 
    * Informa PLC  INF.L : UBS adds to least preferred list in European media; neutral 
    * Informa PLC  INF.L : UBS cuts to neutral from buy; cuts target to 550p from 570p 
    * Intercontinental Hotels Group Plc  IHG.L : UBS adds to most preferred list; rating buy 
    * Intertek Group PLC  ITRK.L : Natixis cuts to reduce; cuts target to 2800p from 3300p 
    * Ipsos SA  ISOS.PA : HSBC raises target to 38 euros from 35.5 euros; overweight 
    * ITV Plc  ITV.L : HSBC raises to overweight; raises taget to 230p from 150p  
    * ITV PLC  ITV.L : UBS raises target price to 230p from 205p; rating buy 
    * Jeronimo Martins  JMT.LS : JP Morgan cuts target price to 15 euros from 16 euros 
    * Jeronimo Martins  JMT.LS : JP Morgan cuts to neutral from overweight 
    * Jeronimo Martins  JMT.LS : Raymond James cuts target to 17.20 euros; outperform  
    * Jeronimo Martins : Citigroup cuts target to 16.15 euros; rating buy 
    * Kalibrate Technologies PLC  KLBT.L : N+1 Singer starts with 102P price target 
    * Ladbrokes Plc  LAD.L : UBS drops from least preferred list; rating neutral  
    * Lindt & Spruengli  LISP.S : S&P Capital raises target to Sfr 4,260 from Sfr 3,890; hold 
    * Logitech  LOGN.S : Goldman Sachs raises to buy from neutral  
    * Lonza Group AG  LONN.VX : Citigroup raises to buy from neutral 
    * Luxottica  LUX.MI : Nomura raises to neutral; raises target to 40.70 euros from 38 euros  
    * LVMH  LVMH.PA : Nomura cuts target to 155 euros from 163 euros; buy  
    * Mears Group PLC  MERG.L : Investec cuts to add from buy; raises target to 495p from 440p 
    * Mecom Group PLC  MEC.L : Canaccord Genuity raises target to 150p from 108p; rating buy 
    * Mecom Group PLC  MEC.L : Numis raises price target to 150p; rating buy 
    * Mediaset Espana Comunicacion  TL5.MC : HSBC raises target to 7.9 euros; underweight  
    * Mediaset Spa  MS.MI : HSBC raises target to 3.3 euros from 2.6 euros; underweight 
    * Michelin  MICP.PA : Goldman Sachs raises to neutral; raises target to 81 euros  
    * Michelin SCA  MICP.PA : JP Morgan cuts to underweight from neutral  
    * Monitise PLC  MONI.L : Goldman Sachs raises target to 115p from 100p; rating cl buy  
    * Monitise PLC  MONI.L : Goldman Sachs raises target to 115p from 100p; rating cl buy  
    * Moss Bros  MOSB.L : Cantor raises target to 95p from 80p; rating buy 
    * Moss Bros  MOSB.L : Peel Hunt raises target to 105p; rating buy 
    * Moss Bros  MOSB.L : WH Ireland raises target to 110p from 85p; rating buy 
    * Navigator Holdings  NVGS.N : Wells Fargo startswith outperform  
    * NBG  ETFAS.AT : Renaissance Capital starts with sell  
    * Nichols PLC  NICL.L : Investec cuts to sell from hold; raises taget to 1055p from 890p 
    * Nokia OYJ  NOK1V.HE : S&P Capital IQ raises to buy; target to 7 euros from 5.40 euros 
    * Novo Nordisk  NOVOb.CO : UBS raises target to Dkk 230 from Dkk 208; buy 
    * Novozymes  NZYMb.CO : Danske Bank raises target to DKK 265 from DKK 240; rating buy  
    * Opera Software  OPERA.OL : Goldman Sachs raises target to Nok 120 from Nok 110; buy  
    * Opera Software ASA  OPERA.OL : Goldman Sachs raises target price to Nok 120; rating buy  
    * Optimal Payments PLC  OPAY.L : Berenberg raises target to 520p from 452p; buy 
    * Piraeus Bank  BOPr.AT : Renaissance Capital starts with sell 
    * Piraeus Bank SA  BOPr.AT : JP Morgan adds to CEEMEA strategy top 10 list 
    * Porsche  PSHG_p.DE : UBS raises price target to 80 euros from 66 euros; rating neutral 
    * Proactis  PHD.L : Finncap raises price target to 60p from 45p 
    * Prosiebensat 1 Media AG  PSMGn.DE : HSBC raises target to 42 euros; overweight  
    * Publicis Groupe SA  PUBP.PA : UBS raises target to 64 euros from 54.95 euros; neutral 
    * Puma SE  PUMG.DE : Commerzbank raises target to 209 euros from 207 euros; hold 
    * Quindell PLC  QPP.L : Canaccord Genuity raises target to 45p from 41p; rating buy 
    * Red Electrica  REE.MC : Citigroup raises target to 58 euros from 48 euros; rating buy 
    * Red Electrica  REE.MC : Exane BNP Paribas raises target to 53 euros from 37 euros 
    * Red Electrica  REE.MC : Exane BNP Paribas raises to neutral from underperform  
    * Regenersis PLC  RGS.L : Panmure cuts target to 394p from 492p; buy 
    * Renault SA  RENA.PA : JP Morgan cuts target to 68 euros from 74 euros; overweight 
    * Rio Tinto  RIO.L : Clarkson raises target to 4330p from 4030p; outperform 
    * Royal Mail PLC  RMG.L : JP Morgan starts with overweight; target 700p 
    * RTL  AUDK.LU : HSBC cuts to neutral from overweight  
    * Salvatore Ferragamo Spa  SFER.MI : Nomura cuts target to 26.50 euros; neutral  
    * Schibsted ASA  SBST.OL : UBS raises target price to Nok 490 from Nok 450; rating buy. 
    * Schoeller Bleckmann  SBOE.VI : Deutsche Bank raises target to 81 euros; hold 
    * Schouw & Co  SCHO.CO : Nordea raises target to DKK 270 from DKK 244 
    * SDL PLC  SDL.L : Goldman Sachs raises target price to 370p from 335p; rating neutral 
    * SDL Plc  SDL.L : Goldman Sachs raises target to 370p from 335p; rating neutral  
    * SEB SA  SEBF.PA : Natixis cuts to neutral; cuts price target to 68 euros from 77 euros 
    * SGS SA  SGSN.VX : Natixis cuts to reduce; cuts target to Sfr 1880 from Sfr2140  
    * SIAS  SIS.MI : Barclays cuts to underweight from equal weight  
    * Siemens  SIEGn.DE : Exane BNP Paribas raises target to 111 euros; outperform 
    * Smith & Nephew PLC  SN.L : Jefferies raises target to 1000p from 900p; rating buy 
    * Software AG  SOWG.DE : Goldman Sachs cuts target to 28 euros from 32.50 euros; neutral 
    * Software AG  SOWG.DE : Goldman Sachs cuts target to 28 euros; rating neutral  
    * Spirit Pub Company PLC  SPRTC.L : Numis raises target to 110p from 100p; rating buy 
    * Suedzucker  SZUG.DE : Barclays raises target to 16 euros; underweight     
    * Suedzucker  SZUG.DE : Exane BNP Paribas cuts target to 12 euros; ratingunderperform 
    * Suez Environnement Company  SEVI.PA : Citigroup raises target to 15 euros   
    * Suez Environnement Company  SEVI.PA : Citigroup raises to buy from neutral 
    * Surteco SE  SURG.DE : Berenberg raises target to 36 euros from 25 euros; buy 
    * Swisscom  SCMN.VX : SocGen raises target to Sfr 550 from Sfr 440; rating buy 
    * Technicolor SA  TCH.PA : Goldman Sachs removes from conviction-buy list; remains buy 
    * Tele2  TEL2b.ST : Morgan Stanley cuts target to Sek 78 from Sek 80; rating equal weight 
    * Telefonica SA  TEF.MC : Raymond James raises to market perform from underperform  
    * The Sage Group  SGE.L : Goldman Scahs raises target to 450p from 430p; neutral  
    * The Sage Group PLC  SGE.L : Goldman Sachs raises target to 450p from 430p; rating neutral  
    * TMK  TRMKq.L : Barclays cuts price target to $14.80 from $15 
    * TMK  TRMKq.L : Barclays raises to overweight from equal weight  
    * Tod's Spa  TOD.MI : Nomura cuts price target to 116 euros form 117 euros; neutral 
    * Valeo SA  VLOF.PA : JP Morgan starts with overweight; price target 95 euros  
    * Veolia Environnement VE SA  VIE.PA : Citigroup cuts to neutral from buy 
    * Vienna Airport  VIEV.VI : Barclays cuts to equal weight from overweight 
    * Vienna Airport  VIEV.VI : Barclays raises target price to 70 euros from 50 euros  
    * Vinci Sa  SGEF.PA : Barclays raises target to 57 euros from 45 euros; overweight 
    * Vivendi SA  VIV.PA : UBS adds to least preferred list in European media; neutral 
    * Vodafone  VOD.L : Raymond James raises target to 275p from 220p; rating outperform 
    * Volkswagen AG  VOWG_p.DE : UBS cuts to sell from neutral 
    * Whitbread Plc  WTB.L : UBS adds to least preferred list; rating neutral 
    * Whitbread PLC  WTB.L : UBS raises target to 4090p from 3150p; rating neutral 
    * William Hill Plc  WMH.L : UBS drops from most preferred list; rating buy  
    * Wolters Kluwer NV  WLSNc.AS : UBS adds to most preferred list in European media; buy 
    * Wolters Kluwer NV  WLSNc.AS : UBS raises target to 24 euros from 20.50 euros; buy 
    * WPP Plc  WPP.L : HSBC raises price target to 1600p from 1500p; rating overweight  
    * Zurich Airport  FHZN.S : Barclays raises target price to Sfr 610 from Sfr 430  
    * Zurich Airport  FHZN.S : Barclays raises to overweight from underweight 
 
 (Compiled by Ram Kumar in Bangalore) 
 ((ramkumar.ramaswamy@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. + 91 80 6677 
1190)(Reuters messaging:ramkumar.ramaswamy.thomsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/