EUROPE RESEARCH ROUNDUP: Volkswagen, Deutsche Telekom, Adidas
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
* 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 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
* 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/
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