Europe Research Roundup: Statoil, Rolls-Royce, Barclays

Bastei Luebbe AG

18/11/2014 23:17

Nov 18 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Repsol and Michelin, on Tuesday.  
     
    HIGHLIGHTS 
    * Safran  SAF.PA : UBS cuts to neutral from buy 
    * Oil & Gas: JP Morgan downgrades Statoil  STL.OL , Galp Energia  GALP.LS   ID:nWNAB05B6V  
    * Michelin  MICP.PA : Exane BNP Paribas cuts to underperform from neutral 
    * Aerospace&Defence: Credit Suisse starts Airbus  AIR.PA  with underperform  ID:nWNAB05B75  
    * Cat Oil  O2C.DE : Otkritie Capital restarts coverage with sell rating  
     
       
Following is a summary of research actions on European companies reported by Reuters on Tuesday. 
Stock entries are in alphabetical order. See bottom of the table for sector changes.  
     
     
    * Aggreko  AGGK.L : HSBC raises target price to 1650p from 1550p; rating neutral 
    * Airbus  AIR.PA : Credit Suisse starts with underperform; target price of 42 euros 
    * Airbus  AIR.PA : Natixis cuts target price to 75 euros from 80 euros; rating buy  
    * Alstom  ALSO.PA : Berenberg raises target price to 32 euros from 31 euros; rating buy 
    * Alstom  ALSO.PA : JP Morgan raises target to 30.50 euros from 30 euros; rating neutral 
    * AXA SA  AXAF.PA : JPMorgan raises price target to 17.20 euros from 16.50 euros 
    * BAE Systems  BAES.L : Credit Suisse starts with outperform; target price of 500p 
    * BAE Systems  BAES.L : Kepler Cheuvreux raises price target to 475p from 440p; rating hold 
    * Baloise Holding AG  BALN.VX : JP Morgan ups target to Sfr 139.72 from Sfr 129; overweight 
    * Barclays  BARC.L : Credit Suisse raises target price to 250p from 230p; rating neutral 
    * Bastei Luebbe AG  BST1.DE : DZ Bank AG cuts target to 10.90 euros from 11.20 euros; buy 
    * Bodycote Plc  BOY.L : JP Morgan cuts target price to 600p from 630p; rating underweight 
    * Bodycote  BOY.L : N+1 Singer cuts target price to 740p from 835p; rating buy 
    * British Land  BLND.L : Jefferies raises price target to 898p from 810p; rating buy 
    * Buzzi Unicem  BZU.MI : Exane BNP Paribas ups target by 3 percent to 16 euros; outperform 
    * Cairo Communication  CAI.MI : Kepler Cheuvreux cuts target to 6.9 euros from 7.8 euros;buy 
    * Cat Oil  O2C.DE : Otkritie Capital restarts coverage with sell rating  
    * Chime Communications  CHW.L : Canaccord Genuity cuts target to 370p from 385p; rating buy 
    * Chime Communications  CHW.L : Investec cuts target price to 330p from 395p; rating buy 
    * Cobham  COB.L : Kepler Cheuvreux raises price target to 295p from 290p; rating hold 
    * Corporacion Financiera  ALB.MC : Exane BNP Paribas ups target by 5 pct to 40 eur; neutral 
    * Deutsche Euroshop  DEQGn.DE : SocGen cuts target to 43 euros from 46 euros; rating buy 
    * DNB  DNB.OL : Danske Bank raises target price to Nok 135 from Nok 130; rating buy 
    * Endesa SA  ELE.MC : SocGen cuts target price to 17 euros from 20 euros; rating buy 
    * Eni  ENI.MI : JP Morgan cuts target price to 15.90 euros from 17.40 euros; underweight 
    * Enteq Upstream  NTQ.L : Investec raises target price to 64p from 62p; rating buy 
    * Esure Group  ESUR.L : JP Morgan cuts target price to 290p from 295p; rating overweight 
    * Eurasia Drilling Company  EDCLq.L : Otkritie Capital restarts coverage with hold rating 
    * Eurazeo  EURA.PA : Kepler Cheuvreux ups to buy from hold;target to 62 euros from 60 euros 
    * EVS  EVSB.BR : KBC cuts target price to 27 euros from 29 euros; rating hold 
    * Galp Energia  GALP.LS : JP Morgan cuts to underweight from neutral 
    * Galp Energia  GALP.LS : JP Morgan cuts target price to 11.50 euros from 12.40 euros 
    * Gemfields  GEM.L : Investec raises target price to 61.1P from 57.2p; rating buy 
    * GN Store Nord A/S  GN.CO : Kepler Cheuvreux cuts target to Dkk 160 from Dkk 175;rating buy 
    * Greka Engineering & Technology  GELG.L : WH Ireland cuts target to 4.60P from 5p; spec buy 
    * Griffin Mining  GFM.L : Panmure cuts target price to 92p from 115p; rating buy 
    * Homeserve  HSV.L : Jefferies cuts target price to 330p from 345p; rating hold 
    * Holcim Ltd  HOLN.VX : S&P Capital IQ raises target price to CHF76 from CHF74; rating buy 
    * ING  ING.AS : Goldman Sachs raises target price by 4 percent to 13.8 euros 
    * ING  ING.AS : Goldman Sachs removes from pan-europe conviction buy list; maintains buy  
    * International Personal Finance  IPF.L : HSBC raises to overweight from neutral 
    * International Personal Finance  IPF.L : HSBC raises target price to 600p from 520p 
    * Interparfums  IPAR.PA : Natixis cuts target price to 21.40 euros; rating reduce 
    * Interparfums  IPAR.PA : ESN/CM-CIC Securities raises to accumulate from hold 
    * Jeronimo Martins  JMT.LS : JP Morgan raises target to 8.30 euros from 7.70 euros; neutral 
    * KBC  KBC.BR : Nomura raises target price to 45 euros from 43 euros; rating neutral 
    * Komercni Banka  BKOM.PR : Wood & Company starts with hold rating; target price of Czk 5405 
    * Mail.RU Group Ltd  MAILRq.L : Goldman Sachs cuts target to $33 from $39.90; rating buy  
    * Meggitt  MGGT.L : Credit Suisse starts with underperform; target price of 450p 
    * Michelin  MICP.PA : Exane BNP Paribas cuts to underperform from neutral 
    * Michelin  MICP.PA : Exane BNP Paribas cuts target price to 77 euros from 90 euros 
    * MolMed  MLMD.MI : Jefferies cuts target price to 0.50 euros from 0.70 euros; rating hold 
    * Nestle  NESN.VX : Nomura raises target price to Sfr 65 from Sfr 63; rating reduce 
    * Next Fifteen Communications  NFC.L : Westhouse Securities cuts to neutral from buy rating 
    * NOS  NOS.LS : Jefferies cuts target price to 5.05 euros from 5.25 euros; rating hold 
    * OMV  OMVV.VI : JP Morgan cuts target to 25 euros from 28.50 euros; rating underweight 
    * Ophir Energy  OPHR.L : Exane BNP Paribas cuts target by 3 percent to 277p; rating neutral 
    * Orange PL  OPL.WA : WOOD and Company cuts to sell from buy; target to Pln 9 from Pln 12.60 
    * Paddy Power  PAP.I : Numis raises target price to 61 euros from 51 euros; rating hold 
    * Pennon Group  PNN.L : Deutsche Bank cuts to hold from buy; raises target to 850p from 830p 
    * Prudential  PRU.L : S&P Capital IQ raises target price to 1,650p from 1,550p; rating buy 
    * Rentokil Initial  RTO.L : Jefferies cuts target price to 125p from 129p; rating hold 
    * Repsol  REP.MC : Barclays raises to overweight from equal weight 
    * Repsol  REP.MC : JP Morgan raises to neutral from underweight 
    * Repsol  REP.MC : JP Morgan cuts target price to 18.60 euros from 19.70 euros 
    * RHJ International  RHJI.BR : KBC raises target to 4 euros from 3.69 euros; rating hold 
    * Rolls-Royce  RR.L : Credit Suisse starts with underperform; target price of 820p 
    * Royal Bank of Scotland  RBS.L : Credit Suisse raises target to 325p from 320p;underperform 
    * Safecharge  SCHS.L : Numis starts with buy rating; 350p target price 
    * Safran  SAF.PA : Credit Suisse starts with outperform; target price of 58 euros 
    * Safran  SAF.PA : UBS cuts to neutral from buy 
    * SBM Offshore  SBMO.AS : ING cuts target price to 17 euros from 18 euros; rating buy 
    * SBM Offshore  SBMO.AS : Rabobank cuts to hold from buy;target to 10 euros from 16 euros 
    * Sonova  SOON.VX : Berenberg raises target to Sfr 135 from Sfr 132; rating hold 
    * Sonova  SOON.VX : Vontobel raises price target to Sfr 170 from Sfr 160; rating buy 
    * STADA Arzneimittel  STAGn.DE : Jefferies cuts target to 28 euros from 29.50 euros; hold 
    * Statoil  STL.OL : JP Morgan cuts to neutral from overweight 
    * Statoil  STL.OL : JP Morgan cuts to target price to Nok 176 from Nok 220 
    * Tatneft  TATNxq.L : SocGen raises to buy from hold; cuts target price to $37 from $38 
    * Talanx AG  TLXGn.DE : Berenberg cuts target price to 29 euros from 30 euros; rating buy 
    * Temenos Group  TEMN.S : Bryan Garnier raises target to Sfr 36 from Sfr 35; rating neutral 
    * Thales  TCFP.PA : Credit Suisse starts with outperform; target price of 52 euros 
    * Total  TOTF.PA : JP Morgan cuts target to 54.20 euros fom 57 euros; rating overweight 
    * TSB Banking  TSB.L : Credit Suisse cuts target to 240p from 250p; rating underperform 
    * United Utilities  UU.L : Deutsche Bank raises price target to 1030p from 980p; rating buy  
    * Vastned Retail  VASTB.BR : ESN/Bank Degroof ups target to 59 euros from 52.50 euros; hold 
    * Vectura  VEC.L : Investec raises to buy from hold; cuts target price to 143p from 170p 
    * Viscom AG  V6CG.DE : ESN/Equinet starts with buy; price target 13.50 euros 
    * Wereldhave Belgium  WEHB.BR : ESN/Bank Degroof raises to accumulate from hold  
    * Wereldhave Belgium  WEHB.BR : ESN/Bank Degroof raises target to 109 euros from 93 euros 
    * Wuestenrot & Wuerttembergische  WUWGn.DE : DZ Bank raises target to 22.50 euros;rating buy 
 
     
    SECTOR CHANGES 
    * European Telecom Services: Barclays raises industry view to positive from neutral 
 
 (Compiled by Eileen Anupa Soreng, Jai Ganesh and Rishika Sadam in Bangalore) 
 ((eileen.soreng@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. + 91 80 6749 
6131; Reuters messaging: eileen.soreng.thomsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/