Europe Research Roundup: Shire, Hugo Boss, Associated British Foods

Autohellas Tourist and Trading SA

05/11/2014 16:33

Nov 5 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Betfair Group and TDC A/S, on Wednesday.  
     
    HIGHLIGHTS 
    * Associated British Foods  ABF.L : Citigroup raises to buy from neutral 
    * Banco Santander  SAN.MC : ESN/Beka Finance raises to accumulate from hold 
    * DIA  DIDA.MC : Kepler Cheuvreux raises to hold from reduce 
    * Emak  EM.MI : ESN/Banca Akros raises to accumulate from hold 
    * Shire  SHP.L : Goldman Sachs adds to conviction buy list 
      
Following is a summary of research actions on European companies reported by Reuters on 
Wednesday. Stock entries are in alphabetical order.  
         
    * Alent Plc  ALNT.L : UBS raises target price to 370p from 360p; rating buy 
    * Alpha Bank  ACBr.AT : UBS cuts target price to 0.70 eur from 0.73 eur; rating buy 
    * Anheuser-Busch Inbev  ABI.BR : Berenberg re-initiates with buy rating; 92.87 euros target 
    * A.P. Moller-Maersk MAERSKb.CO :Alm Brand Markets cuts target to Dkk 15,500; buy 
    * Associated British Foods  ABF.L : SocGen raises target price to 3300p from 2975p; buy 
    * Associated British Foods  ABF.L : Citigroup raises price target to 3200p from 3100p 
    * Associated British Foods  ABF.L : Citigroup raises to buy from neutral 
    * Associated British Foods  ABF.L : Exane BNP Paribas ups target by 3pct to 3700p;outperform 
    * Autohellas SA  AUTr.AT : Piraeus Bank ups target to 10.20 euros from 9.80 euros;outperform 
    * Aveva  AVV.L : Liberum cuts target price to 1400p from 1500p; rating hold 
    * Aveva  AVV.L : Investec cuts price target to 1350p from 1600p; rating hold 
    * Balder  BALDb.ST : Danske Bank raises price target to Sek 97 from Sek 95; rating hold 
    * Banca Generali  BGN.MI : Kepler Cheuvreux cuts target to 26.9 euros from 27.3 euros; buy 
    * Banco Santander  SAN.MC : Deutsche Bank cuts target to 7.30 euros from 7.50 euros; hold 
    * Banco Santander  SAN.MC : ESN/Beka Finance raises to accumulate from hold 
    * Bank of Ireland  BKIR.I : Citigroup raises price target to 0.22 euros from 0.20 euros 
    * Betfair Group  BETF.L : Jefferies raises target price to 1420p from 1230p; rating buy 
    * Betfair Group  BETF.L : Citigroup raises price target to 1400p from 1240p; rating buy 
    * Betfair Group  BETF.L : Morgan Stanley raises target price to 1400p from 1300p; overweight 
    * Binckbank NV  BINCK.AS : ING cuts to hold from buy; target to 8.50 euros from 10.50 euros 
    * BMW  BMWG.DE : Barclays cuts price target to 118 euros from 119 euros; rating overweight 
    * BMW  BMWG.DE : Exane BNP Paribas cuts price target by 3 pct to 93 euros; rating neutral 
    * BMW  BMWG.DE : SocGen cuts target price to 100 euros from 108 euros; rating buy 
    * bpost NV  BPOST.BR : Exane BNP Paribas raises price target by 3 pct to 18.5 euros; neutral 
    * bpost NV  BPOST.BR : ING cuts to hold from buy 
    * Braas Monier  BMSA.DE : Exane BNP Paribas cuts target by 2 pct to 22.5 euros; outperform 
    * Braas Monier  BMSA.DE : JP Morgan raises target to 22 euros from 20 euros; overweight 
    * Braas Monier  BMSA.DE : Berenberg cuts price target to 22 euros from 25 euros; rating buy 
    * Braas Monier  BMSA.DE : UBS cuts price target to 22 euros from 22.50 euros; rating buy 
    * Brunel International  BRUN.AS : KBC cuts target price to 18 euros from 20 euros; hold 
    * BT  BT.L : Raymond James cuts price target to 470p from 480p; rating strong buy 
    * Burckhardt  BCHN.S : Vontobel cuts target price to Sfr 460 from Sfr 465; rating hold 
    * C&C Group  GCC.I : Berenberg re-initiates with hold rating; 3.67 euros target price 
    * Carlsberg  CARLb.CO : Berenberg re-initiates coverage with sell; target of Dkk 471.84 
    * Carr's Milling Industries  CARS.L : Numis starts with add rating; target price 1800p 
    * Centamin  CEY.L : Westhouse cuts target price to 65p from 70p; rating buy 
    * Continental  CONG.DE : ESN/Equinet Bank raises target to 190 euros from 185 euros; buy 
    * CTT Correios de Portugal  CTT.LS : JP Morgan raises target to 10.05 euros; overweight 
    * Danske Bank A/S  DANSKE.CO : Barclays raises target to Dkk 172 from Dkk 159; equal weight 
    * Delticom  DEXGn.DE : Commerzbank cuts price target to 19 euros from 28 euros; rating hold 
    * Delticom  DEXGn.DE : Exane BNP Paribas cuts target price by 62 pct to 14 euros 
    * Deutsche Annington  ANNGn.DE : JP Morgan raises target price to 27 euros from 26.5 euros 
    * DIA  DIDA.MC : Kepler Cheuvreux raises to hold from reduce 
    * DNB ASA  DNB.OL : Barclays raises price target to Nok 149 from Nok 134; rating overweight 
    * DSM NV  DSMN.AS : Credit Suisse cuts price target to 55.5 euros; rating outperform 
    * DSM NV  DSMN.AS : HSBC cuts price target to 53 euros from 54.5 euros; rating neutral 
    * Dufry  DUFN.S : Credit Suisse cuts target price to Sfr 180 from Sfr 185; rating outperform 
    * Emak  EM.MI : ESN/Banca Akros raises to accumulate from hold 
    * Essilor  ESSI.PA : HSBC raises target price to 104 euros from 100 euros; rating overweight 
    * Euler Hermes  ELER.PA : HSBC raises to neutral; target price to 86 euros from 85.5 euros 
    * Eutelsat Communications  ETL.PA : Citigroup raises target to 30 euros from 29 euros; buy 
    * Exact Holding NV  EXAH.AS : Kepler Cheuvreux cuts price target to 32 euros from 35.5 euros 
    * Ferragamo  SFER.MI : JP Morgan cuts price target to 21.50 euros from 24.50 euros; neutral 
    * First Derivatives  FRST.L : Panmure raises price target to 1657p from 1458p 
    * Fresenius  FREG.DE : Jefferies raises price target to 46.80 euros from 42; rating buy 
    * Fresenius  FREG.DE : HSBC raises target price to 47 euros from 44 euros; rating overweight 
    * Fresenius  FREG.DE : Barclays raises price target to 42 euros from 40 euros; equal weight 
    * Fresenius  FREG.DE : Credit Suisse raises target to 39 euros from 38.5 euros; neutral 
    * Fresenius  FREG.DE : Exane BNP Paribas raises target by 11 pct to 48 euros; outperform 
    * Fresenius  FREG.DE : Morgan Stanley raises target to 45 euros from 42 euros; overweight 
    * Fresenius Medical  FMEG.DE : HSBC ups target to 56 euros from 52 euros; underweight 
    * Fresenius Medical  FMEG.DE : Credit Suisse ups target to 65 euros from 59euros; outperform 
    * Fresenius Medical  FMEG.DE : Exane BNP Paribas raises target by 13pct to 60 euros; neutral 
    * Fugro  FUGRc.AS : Rabobank adjusts price target to 10 euros from 23 euros; rating hold 
    * GameAccount Network  GAMEG.L : Davy Research starts with neutral rating 
    * Gas Natural  GAS.MC : Deutsche Bank raises target to 22.20 euros from 21.50 euros; hold 
    * Gerry Weber  GWIG.DE : Commerzbank cuts price target to 29 euros from 32 euros; hold 
    * Gesco  GSC1n.DE : ESN/Equinet Bank cuts target price to 68 euros from 74 euros; hold 
    * Grifols SA  GRLS.MC : Kepler Cheuvreux raises to hold from reduce 
    * Grifols SA  GRLS.MC : Kepler Cheuvreux raises price target to 36 euros from 35.5 euros 
    * Hannover Rueck  HNRGn.DE : DZ Bank raises target to 73.00 euros from 67.00 euros; buy 
    * Heineken  HEIN.AS : Berenberg re-initiates coverage with hold; price target of 57.68 euros 
    * Holcim  HOLN.VX : Exane BNP Paribas cuts price target by 1 pct to Sfr 75; rating neutral 
    * HomeServe Plc  HSV.L : JP Morgan raises price target to 362p from 317p; rating neutral 
    * Howden Joinery Group  HWDN.L : UBS raises target price to 495p from 458p; rating buy 
    * Howden Joinery Group  HWDN.L : Canaccord Genuity raises target to 500p from 410p; buy 
    * Hugo Boss AG  BOSSn.DE : UBS cuts target price to 115 euros from 118 euros; rating buy  
    * Hugo Boss AG  BOSSn.DE : Barclays cuts target to 105 euros from 110 euros; equal weight 
    * Hugo Boss AG  BOSSn.DE : Exane BNP Paribas cuts target by 2 pct to 123 euros; outperform 
    * Hugo Boss AG  BOSSn.DE : SocGen cuts target price to 106 euros from 108 euros; rating hold 
    * Hunting  HTG.L : Finncap cuts price target to 655p from 840p; rating hold 
    * Hunting  HTG.L : Investec cuts target price to 785p from 890p; rating hold 
    * ING  ING.AS : S&P Capital IQ raises to buy from hold; target to 13 euros from 10 euros 
    * J D Wetherspoon Plc  JDW.L : Investec cuts to add from buy; target price to 833p from 885p 
    * J D Wetherspoon Plc  JDW.L : N+1 Singer raises target price to 776p from 772p; rating hold 
    * JLT  JLT.L : Canaccord Genuity cuts target price to 915p; hold rating 
    * John Menzies Plc  MNZS.L : Liberum cuts price target to 600p; rating buy 
    * JSW  JSW.WA : Deutsche Bank cuts to sell from hold; cuts price target to Pln 24 from Pln34 
    * Jungheinrich  JUNG_p.DE : HSBC raises target price to 49 euros from 47 euros; neutral 
    * Kingfisher  KGF.L : Deutsche Bank cuts to hold from buy; price target to 340p from 400p 
    * KPN NV  KPN.AS : Barclays raises price target to 3.10 euros from 3 euros; overweight 
    * Lafarge  LAFP.PA : Exane BNP Paribas cuts target price by 2 pct to 62 euros; neutral 
    * Legal & General  LGEN.L : Canaccord Genuity raises target price to 240p; rating hold 
    * Legal & General  LGEN.L : Barclays raises price target to 269p from 268p; overweight 
    * Linde  LING.DE : SocGen cuts target price to 170 euros from 178 euros; rating buy 
    * Lonmin  LMI.L : Deutsche Bank cuts price target to 330p; rating buy 
    * L'Oreal SA  OREP.PA : RBC raises to outperform from sector perform 
    * Lundin Petroleum  LUPE.ST : JP Morgan cuts target to Sek 150 from Sek 171; overweight 
    * Marks and Spencer  MKS.L : Cantor cuts target price to 385p from 410p; rating sell 
    * Marks and Spencer  MKS.L : S&P Capital IQ cuts target price to 450p from 460p; rating hold 
    * Marks and Spencer  MKS.L : Cantor raises price target to 400p from 385p; rating sell 
    * Marshalls Plc  MSLH.L : Panmure raises target price to 250p from 215p; rating buy 
    * Maurel et Prom  MAUP.PA : Exane BNP Paribas cuts target price by 14 pct to 14 euros 
    * Meggitt  MGGT.L : JP Morgan raises price target to 460p from 435p; rating underweight 
    * MTU Aero Engines  MTXGn.F : UBS raises price target to 67 euros from 63 euros; rating sell 
    * Natixis  CNAT.PA :JP Morgan raises price target to 4.80 euros from 4.60 euros; neutral 
    * Natixis  CNAT.PA : Exane BNP Paribas raises price target by 3 pct to 6.1 euros; outperform 
    * Naturex  NATU.PA : Exane BNP Paribas cuts price target by 15 pct to 63 euros; outperform 
    * Naturex  NATU.PA : Kepler Cheuvreux cuts to hold from buy 
    * Naturex  NATU.PA : Kepler Cheuvreux cuts price target to 52 euros from 74 euros 
    * NH Hoteles  NHH.MC : Exane BNP Paribas cuts price target by 7 pct to 4 euros; neutral 
    * Nordea  NDA.ST : Barclays raises price target to Sek 92 from Sek 91; rating equal weight 
    * Novartis  NOVN.VX : Berenberg raises price target to Sfr 96 from Sfr 94; rating buy 
    * Osram Licht  OSRn.DE : Deutsche Bank cuts price target to 44 euros; rating buy 
    * Palfinger AG  PALF.VI : HSBC cuts target price to 18 euros from 23.5 euros; underweight 
    * Pfeiffer Vacuum  PV.DE : Exane BNP Paribas cuts target by 5 pct to 80 euros; outperform 
    * Pfeiffer Vacuum  PV.DE : ESN/Equinet Bank cuts target to 65 euros from 67 euros; hold 
    * PKN Orlen  PKN.WA : SocGen raises to buy from hold; target price to Pln 47.4 from Pln 41 
    * Prelios  PCRE.MI : ESN/Banca Akros raises to hold from reduce 
    * Raisio  RAIVV.HE : Danske Bank cuts to hold from buy 
    * Rhoen Klinikum AG  RHKG.DE : Berenberg cuts target price to 24.50 euros from 26.50 euros 
    * Rhoen Klinikum AG  RHKG.DE : Berenberg cuts to hold from buy 
    * Rhoen Klinikum AG  RHKG.DE : ESN/Equinet Bank cuts to hold from accumulate 
    * Rolls-Royce Holdings  RR.L : Deutsche Bank cuts target price to 648p from 655p; sell 
    * Rolls-Royce Holdings  RR.L : Natixis raises target price to 930p from 900p; rating neutral 
    * Rolls-Royce Holdings  RR.L : UBS cuts price target to 1100p from 1160p; rating buy 
    * Royal DSM  DSMN.AS : S&P Capital IQ cuts to hold from buy; target to 50euros from 58 euros 
    * Ryanair Holdings  RYA.I : Jefferies raises target price to 10 euros from 8 euros; buy 
    * Ryanair Holdings  RYA.I : Cantor raises price target to 10 euros from 9 euros; rating buy 
    * Ryanair Holdings  RYA.I : Panmure raises target price to 10 euros from 8.60 euros; buy 
    * SABMiller Plc  SAB.L : Berenberg re-initiates with buy rating; 3850p target price 
    * Santander  SAN.MC : Morgan Stanley cuts target to 7.25 euros from 7.50 euros; equal-weight 
    * Schibsted  SBST.OL : Citigroup raises target price to Nok 370 from Nok 340; rating neutral 
    * Securitas  SECUb.ST : UBS raises target price to Sek 76 from Sek 70; rating sell 
    * Securitas  SECUb.ST : Barclays raises price target to Sek 73 from Sek 65; underweight 
    * Securitas  SECUb.ST : JP Morgan cuts target to Sek 67.92 from Sek 70.56; underweight 
    * Securitas  SECUb.ST : Danske Bank cuts to hold from buy; ups target to Sek 93 from Sek 90 
    * Securitas  SECUb.ST : Morgan Stanley raises target to Sek 72 from Sek 70; underweight 
    * Securitas  SECUb.ST : UBS raises target price to Sek 76 from Sek 70; rating sell 
    * Senior  SNR.L : Canaccord Genuity raises to buy from hold rating 
    * SES SA  SESFd.PA : Citigroup raises target price to 31 euros from 26.50 euros; rating buy 
    * SES SA  SESFd.PA : Nomura cuts price target to 28 euros from 28.50 euros; rating buy 
    * Shire  SHP.L : Goldman Sachs adds to conviction buy list 
    * SEB  SEBa.ST : Barclays ups target to Sek 111 from Sek 105; overweight 
    * Smith & Nephew  SN.L :JP Morgan raises price target to 991p from 949p; rating neutral 
    * Snam SpA  SRG.MI : Berenberg cuts target price to 4.60 euros from 4.70 euros; rating buy 
    * Snam SpA  SRG.MI : UBS raises price target to 4.55 euros from 4.20 euros; rating buy 
    * Stada  STAGn.DE : Commerzbank cuts to hold from buy; target to 32 euros from 37 euros 
    * Stentys SA  STEN.PA : SocGen raises target price to 9 euros from 6.8 euros; rating buy 
    * Suez  SEVI.PA : Bryan Garnier ups fair value to 14euros from 13.38euros; neutral 
    * Svenska Handelsbanken  SHBa.ST : Barclays ups target to Sek 371 from Sek 352; equal weight 
    * Swedbank  SWEDa.ST : Barclays raises price target to Sek 193 from Sek 183; equal weight 
    * Tarkett  TKTT.PA : HSBC raises target price to 27 euros from 25 euros; rating overweight 
    * TDC A/S  TDC.CO : JP Morgan reinstates with neutral rating; price target Dkk 47 
    * TDC A/S  TDC.CO : Barclays cuts to equal weight from overweight;target to Dkk48 from Dkk56 
    * TDC A/S  TDC.CO : UBS cuts price target to Dkk 45 from Dkk 52.50; rating neutral 
    * Terna  TRN.MI : Berenberg cuts price target to 3.50 euros from 3.60 euros; rating hold 
    * Tod's SpA  TOD.MI : JP Morgan cuts target price to 80 euros from 92 euros; rating neutral 
    * TomTom  TOM2.AS : Rabobank cuts price target to 7 euros from 7.40 euros; rating buy 
    * TT Electronics  TTG.L : Berenberg cuts to hold from buy; target price to 130p from 220p 
    * TT Electronics  TTG.L : Goldman Sachs cuts to neutral from buy; target to 140p from 290p 
    * TT Electronics  TTG.L : Goldman Sachs removes from Pan-Europe conviction buy list 
    * UBS AG  UBSN.VX : Credit Suisse raises target price to Sfr 18.50 from Sfr 16.50; neutral 
    * Vicat  VCTP.PA : SocGen cuts target price to 71 euros from 73 euros; rating buy 
    * Vodafone Group Plc  VOD.L : UBS raises target price to 260p from 255p; rating buy 
    * Vossloh  VOSG.DE : Commerzbank cuts to hold from add; target to 55 euros from 70 euros 
    * Weir Group Plc  WEIR.L : JP Morgan cuts target price to 2425p from 2795p; rating neutral 
    * Weir Group Plc  WEIR.L : SocGen cuts target price to 2,400p from 2,600p; rating hold 
         
 
 (Compiled by Fareha Khan and Geetha Panchaksharam in Bangalore) 
 ((fareha.khan@thomsonreuters.com; within U.S. +1 646 223 8780 outside U.S. +91 80 6749 1130; 
Reuters Messaging: fareha.khan.thomsonsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/