Europe Research Roundup: Rio Tinto, Meggitt, SKF, Sky Deutschland

Asseco South Eastern Europe SA

08/08/2014 16:30

Aug 8 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Meggitt and SKF, on Friday.  
     
    HIGHLIGHTS 
    * Rio Tinto  RIO.L : Clarkson Capital, Jefferies raise target price on the stock 
    * Meggitt Plc  MGGT.L : Berenberg cuts to hold from buy; target price to 510p from 600p 
    * SKF  SKFb.ST : Morgan Stanley raises to overweight from equal-weight; target to Sek 197    
  
    * Adecco  ADEN.VX : Helvea Baader Bank raises to buy from hold 
    * Securitas AB  SECUb.ST : Deutsche Bank cuts to sell from hold 
       
Following is a summary of research actions on European companies reported by Reuters on Friday. 
Stock entries are in alphabetical order.  
     
    * Active Biotech  ACTI.ST : Nordea Equity Research raises price target to Sek 36 from Sek 37 
    * Active Biotech  ACTI.ST : Nordea Equity Research raises to buy from hold 
    * Adecco  ADEN.VX : Barclays cuts price target to Sfr 77 from Sfr 83.50; rating overweight 
    * Adecco  ADEN.VX : Vontobel cuts price target to Sfr 89 from Sfr 91; rating buy 
    * Adecco  ADEN.VX : Helvea Baader Bank raises to buy from hold 
    * Adecco  ADEN.VX : Helvea Baader Bank cuts target price to Sfr 74 from Sfr 81 
    * Adidas AG  ADSGn.DE : Barclays cuts price target to 65 euros from 70 euros; overweight 
    * Adidas AG  ADSGn.DE : Citigroup cuts price target to 60 euros from 81 euros; neutral 
    * Adidas AG  ADSGn.DE : Credit Suisse cuts to neutral from outperform 
    * Adidas AG  ADSGn.DE : Credit Suisse cuts target price to 65 euros from 90 euros 
    * Adidas AG  ADSGn.DE : Bryan Garnier cuts target to 67 euros from 77 euros; rating neutral 
    * Allied Minds Plc  ALML.L : Jefferies starts with buy rating; target price of 320p 
    * Alpiq Holding AG  ALPH.S : Credit Suisse cuts price target to Sfr 45 from Sfr 123 
    * Alpiq Holding AG  ALPH.S : Credit Suisse cuts to underperform from neutral 
    * Amec Plc  AMEC.L : Credit Suisse cuts target price to 1150p from 1250p; rating neutral 
    * Amec Plc  AMEC.L : UBS cuts target price to 1100p from 1190p; rating neutral 
    * Amec Plc  AMEC.L : Deutsche Bank cuts price target to 1350p from 1400p 
    * Amec Plc  AMEC.L : Morgan Stanley raises price target to 1242p from 1235p; equal weight 
    * Aquarius Platinum Ltd  AQP.L : Deutsche Bank raises price target to 30p from 26p 
    * Arbonia Forster  AFGN.S : Vontobel cuts price target to Sfr 25 from Sfr 27; rating hold 
    * Arbonia-Forster  AFGN.S : UBS cuts target price to Sfr 29 from Sfr 30; rating buy 
    * Asseco South Eastern  ASEP.WA : ING cuts target to Pln 8.20 from Pln 9.75; rating hold 
    * Axa SA  AXAF.PA : Barclays raises price target to 23 euros from 21.50 euros; overweight 
    * Banca MPS  BMPS.MI : SocGen cuts target price to 1.2 euro from 1.4 euro; rating hold 
    * Banco Popular Espanol  POP.MC : RBC cuts target to 3.90 euros from 4 euros; underperform 
    * Beiersdorf AG  BEIG.DE : Credit Suisse cuts target to 61 euros from 64 euros; underperform 
    * Beiersdorf AG  BEIG.DE : Bryan Garnier cuts fair value to 67 euros from 71 euros 
    * Beiersdorf AG  BEIG.DE : Bryan Garnier cuts to sell from neutral 
    * Beiersdorf AG  BEIG.DE : Deutsche Bank cuts price target to 80 euros from 85 euros 
    * Beiersdorf  BEIG.F : UBS cuts target price to 77 euros from 84 euros; rating buy 
    * Brenntag AG  BNRGn.DE : UBS cuts target price to 38.5 euros from 47 euros; rating neutral 
    * Brenntag AG  BNRGn.DE : Deutsche Bank cuts price target to 42.50 euros from 45 euros 
    * British Sky Broadcasting  BSY.L : Berenberg raises target to 800p from 680p; rating sell 
    * Clariant AG  CLN.VX : Citigroup cuts price target to Sfr 19 from Sfr 21; rating buy 
    * Cobham Plc  COB.L : JP Morgan cuts target price to 290p from 305p; rating neutral 
    * Cobham Plc  COB.L : RBC cuts target price to 310p from 330p; rating sector perform 
    * Cobham Plc  COB.L : Deutsche Bank cuts price target to 275p from 285p 
    * Coca-Cola Hellenic  CCH.L : SocGen cuts target price to 1150p from 1280p; rating sell 
    * Coca-Cola Hellenic  CCH.L : Deutsche Bank ups to buy from hold; target to 1500p from 1400p 
    * Delhaize  DELB.BR : Natixis raises target price to 50 euros from 47 euros; rating neutral 
    * Deutz AG  DEZG.DE : Deutsche Bank cuts price target to 5.30 euros from 5.80 euros 
    * Deutsche Telekom  DTEGn.DE : DZ Bank cuts target to 11.50 euros from 12.50 euros; hold 
    * Deutsche Telekom  DTEGn.DE : Natixis cuts target price to 9.2 euros from 9.5 euros; reduce 
    * Dixons Carphone Plc  DC.L : Citigroup starts with buy rating; price target 430p 
    * Drax Group Plc  DRX.L : SocGen cuts target price to 500p from 630p; rating sell 
    * Drax Group Plc  DRX.L : Credit Suisse cuts target price to 750p from 805p; outperform 
    * Drax Group Plc  DRX.L : Deutsche Bank cuts target price to 700p from 750p; rating hold 
    * Elmos  ELGG.DE : Natixis raises price target to 13 euros from 12 euros; rating neutral 
    * ElringKlinger AG  ZILGn.DE : DZ Bank cuts target to 23.50 euros from 27.00 euros; sell 
    * Euronext NV  ENX.PA : UBS raises to neutral from sell 
    * Euronext NV  ENX.PA : UBS raises price target to 18.3 euros from 17.9 euros 
    * Evotec AG  EVTG.DE : Commerzbank raises price target to 5 euros from 4.40 euros 
    * Evotec AG  EVTG.DE : Commerzbank raises to buy from add 
    * Ferrexpo Plc  FXPO.L : UBS cuts price target to 140p from 150p; rating neutral 
    * Fraport AG  FRAG.DE : DZ Bank cuts target to 57.00 euros from 59.00 euros; rating buy 
    * Fraport AG  FRAG.DE : RBC cuts target price to 56 euros from 60 euros; sector perform 
    * Galliford Try Plc  GFRD.L : Jefferies cuts price target to 1446p from 1477p; rating hold 
    * Grammer AG  GMMG.DE : DZ Bank cuts target price to 42.00 euros from 48.00 euros; buy 
    * Henderson Group Plc  HGGH.L : Canaccord Genuity raises target to 240p from 235p; hold 
    * Henderson Group Plc  HGGH.L : Citigroup cuts price target to 246p from 268p 
    * Henderson Group Plc  HGGH.L : Citigroup cuts to neutral from buy 
    * Henderson Group Plc  HGGH.L : UBS cuts target price to 255p from 270p; rating buy 
    * Henderson Group Plc  HGGH.L : RBC cuts target to 245p from 265p; rating sector perform 
    * Hexagon AB  HEXAb.ST : SEB Equity Research raises to buy from hold 
    * Inficon  IFCN.S : Vontobel cuts price target to Sfr 345 from Sfr 360; rating buy 
    * Interserve Plc  IRV.L : Jefferies raises price target to 833p from 813p; rating buy 
    * Intu Properties Plc  INTUP.L : UBS cuts to neutral from buy; ups target to 335p from 325p 
    * Jyske Bank  JYSK.CO : Alm Brand marketS raises price target to Dkk 360 from Dkk 350; buy 
    * KBC  KBC.BR : UBS raises target price to 45.70 euros from 43.60 euros; rating neutral 
    * KBC  KBC.BR : Natixis raises price target to 49.6 euros from 49 euros; rating buy 
    * KBC  KBC.BR : Deutsche Bank raises price target to 51 euros from 49 euros 
    * Klöckner  KCOGn.DE : DZ Bank cuts target price to 12.50 euros from 13.00 euros; rating buy 
    * Kloeckner  KCOGn.DE : Credit Suisse cuts target to 11 euros from 13 euros; underperform 
    * K&S AG  SDFGn.DE : JP Morgan raises target to 33 euros from 32 euros; rating overweight 
    * Legal & General  LGEN.L : Morgan Stanley ups target to 229p from 221p; rating equal-weight 
    * Lundbeck A/S  LUN.CO : Nordea Equity Research cuts target to Dkk 117 from Dkk 120; sell 
    * Lundin Petroleum  LUPE.ST : SocGen cuts target price to Sek 142 from Sek 148; rating hold 
    * Meggitt Plc  MGGT.L : Berenberg cuts to hold from buy 
    * Meggitt Plc  MGGT.L : Berenberg cuts target price to 510p from 600p 
    * Meggitt Plc  MGGT.L : Canaccord Genuity cuts to hold from buy; target to 510p from 580p 
    * Mondi Plc  MNDI.L : Credit Suisse raises target price to 1265p from 1215p; outperform 
    * Munich Re  MUVGn.DE : DZ Bank cuts target to 160 euros from 172 euros; rating buy 
    * Nestle SA  NESN.VX : Deutsche Bank raises target price to Sfr 71 from Sfr 65 
    * Nestle SA  NESN.VX : Helvea Baader Bank raises price target by Sfr 4 to Sfr 74; hold 
    * Nexans SA  NEXS.PA : Natixis cuts price target to 31 euros from 34 euros; rating neutral 
    * Novo Nordisk  NOVOb.CO : Citigroup raises target price to Dkk 300 from Dkk 280; rating buy 
    * Novo Nordisk  NOVOb.CO : Nordea ups target to Dkk 320 from Dkk 315; strong buy 
    * Novo Nordisk  NOVOb.CO : Deutsche Bank raises price target to Dkk 240 from Dkk 225 
    * Novozymes  NZYMb.CO : Nordea Equity Research raises target to Dkk 320 from Dkk 300; buy 
    * PKC Group  PKC1V.HE : Danske Bank cuts price target to 23 euros from 26 euros; rating buy 
    * PKN Orlen  PKN.WA : UBS raises to neutral from sell 
    * Prospector Offshore Drilling SA  PROS.OL : Danske Bank cuts to hold from buy 
    * Rheinmetall AG  RHMG.DE : Deutsche Bank cuts price target to 47 euros from 50 euros 
    * Rheinmetall AG  RHMG.DE : DZ Bank cuts target price to 58.00 euros from 60.00 euros; buy 
    * Rio Tinto  RIO.L : Clarkson Capital raises target to 4200p from 4100p; rating outperform 
    * Rio Tinto  RIO.L : Jefferies raises target price to 4200p from 4100p; rating buy 
    * Rio Tinto  RIO.L : Credit Suisse removes from Europe Focus List; rating outperform 
    * Rio Tinto  RIO.L : Deutsche Bank raises price target to 4650p from 4550p 
    * Rotork Plc  ROR.L : Credit Suisse raises target price to 2700p from 2600p 
    * RSA Insurance Group Plc  RSA.L : Berenberg cuts target price to 477p from 491p; hold 
    * Sampo  SAMAS.HE : Danske Bank cuts price target to 37.5 euros from 38.5 euros; rating hold 
    * Securitas AB  SECUb.ST : Deutsche Bank cuts to sell from hold 
    * Securitas AB  SECUb.ST : Deutsche Bank cuts target price to Sek 67 from Sek 72 
    * SKF  SKFb.ST : Morgan Stanley raises to overweight from equal-weight 
    * SKF  SKFb.ST : Morgan Stanley raises target price to Sek 197 from Sek 172 
    * Sky Deutschland  SKYDn.DE : Berenberg cuts to hold from buy 
    * Sky Deutschland  SKYDn.DE : Berenberg cuts target price to 6.75 euros from 7.60 euros 
    * SMA  S92G.DE : Deutsche Bank cuts price target to 23 euros from 25 euros; rating hold 
    * Stada Arzneimittel  STAGn.DE : Jefferies cuts target to 26 euros from 27 euros 
    * Stada Arzneimittel  STAGn.DE : S&P Capital IQ cuts target to 31 euros from 39 euros; hold 
    * TDC  TDC.CO : Handelsbanken Capital markets cuts price target to Dkk 50 from Dkk 58 
    * TDC  TDC.CO : Handelsbanken Capital markets cuts to reduce from accumulate 
    * Telefonica Deutschland  O2Dn.DE : Barclays ups target to 7.40 euros from 6.80 euros 
    * Tetragon Financial Group  TFG.AS : Deutsche Bank starts with buy rating; target of $12.70 
    * Tod's SpA  TOD.MI : Barclays cuts target to 79.50 euros from 87 euros; rating underweight 
    * Tod's SpA  TOD.MI : UBS cuts target price to 80 euros from 84 euros; rating sell 
    * Tod's SpA  TOD.MI : Bryan Garnier cuts fair value to 92 euros from 100 euros; rating sell 
    * Tod's SpA  TOD.MI : Deutsche Bank cuts target price to 89 euros from 95 euros; rating hold 
    * Tritax  BBOXT.L : Jefferies raises target price to 115p from 114p; rating buy 
    * Tyman Plc  TYMN.L : Jefferies cuts price target to 366p from 369p; rating buy 
    * UniCredit SpA  CRDI.MI : S&P Capital IQ cuts target to 6.50 euros from 7.50 euros; buy 
    * Vestas Wind Systems  VWS.CO :Nordea Equity Research cuts target to Dkk310 from Dkk 340;buy 
    * Vinci SA  SGEF.PA : Berenberg cuts target price to 56 euros from 60 euros; rating buy 
    * Volkswagen AG  VOWG_p.DE : Goldman Sachs cuts to sell from neutral 
    * Volkswagen AG  VOWG_p.DE : Goldman Sachs cuts target price to 179 euros from 215 euros 
    * Zurich Airport  FHZN.S : UBS cuts price target to Sfr 620 from Sfr 700; rating buy 
    * Zurich Insurance Group  ZURN.VX : Berenberg raises target to Sfr 280 from Sfr 275; hold 
 
 (Compiled by Rachel Chitra and Geetha Panchaksharam in Bangalore) 
 ((rachel.chitra@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 67496149; 
Reuters Messaging: rachel.chitra.reuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/