Europe Research Roundup: ABB, SABMiller, Vestas
14/11/2014 16:29
Nov 14 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including Tesco, Talanx and Heineken, on Friday.
HIGHLIGHTS
* ABB ABBN.VX : Morgan Stanley cuts to equal-weight from overweight
* Aegon AEGN.AS : Morgan Stanley cuts to equal-weight from overweight
* SABMiller SAB.L : Natixis cuts to neutral from buy
* Vestas VWS.CO : Commerzbank raises to hold from reduce
* Dairy Crest DCG.L : Credit Suisse, UBS upgrade stock
Following is a summary of research actions on European companies reported by Reuters on Friday.
Stock entries are in alphabetical order. See bottom of the table for sector changes.
* 3I Group III.L : SocGen raises price target to 505p from 470p; rating buy
* ABB ABBN.VX : Morgan Stanley cuts to equal-weight from overweight
* Acciona ANA.MC : Goldman Sachs raises price target to 61 euros from 57 euros
* Acciona ANA.MC : Goldman Sachs raises to neutral rating;removes from pan-Europe sell list
* ACS ACS.MC : S&P Capital IQ ups to hold from sell;cuts target to 28.5 euros from 30 euros
* Adler ADDG.F : Kepler Cheuvreux raises target to 13.50 euros from 11 euros; rating buy
* Aedifica AOO.BR : ESN/Bank Degroof raises target to 54 euros from 52.50 euros;rating hold
* Aegon AEGN.AS : JP Morgan cuts price target to 7.40 euros from 7.50 euros; overweight
* Aegon AEGN.AS : Morgan Stanley cuts to equal-weight from overweight
* Aegon AEGN.AS : Morgan Stanley cuts price target to 6.30 euros from 7.40 euros
* Aegon AEGN.AS : ING cuts price target to 7.30 euros from 7.50 euros; rating buy
* Aegon AEGN.AS : Natixis cuts price target to 7 euros from 7.3 euros; rating buy
* Aegon AEGN.AS : Rabobank cuts target price to 7.25 euros from 7.50 euros; rating buy
* Aegon AEGN.AS : SocGen cuts price target to 7.8 euros from 8 euros; rating buy
* AER LINGUS AERL.I : Investec cuts price target to 1.90 euros from 1.70 euros; rating buy
* Ageas AGES.BR : JP Morgan raises price target to 35.37 euros from 35.19 euros; overweight
* Agfa AGFB.BR>: KBC cuts price target to $2.25 from $2.35; rating hold
* Aggreko AGGK.L : S&P Capital IQ cuts target price to 1450p from 1600p; rating sell
* Ahold AHLN.AS : Natixis raises price target to 14 euros from 13 euros; rating neutral
* Ahold AHLN.AS : Nomura raises price target to 13.40 euros from 13 euros; rating neutral
* Ahold AHLN.AS : ING raises price target to 14.50 euros from 14 euros; rating hold
* Alfa Laval ALFA.ST : Morgan Stanley raises target to Sek 158 from Sek 154; equal weight
* Anheuser-Busch ABI.BR : SocGen raises price target to 90 euros from 86 euros; rating hold
* Ansaldo STS.MI : ESN/Banca Akros cuts to hold from buy
* Arbonia Forster Group AFGN.S : Kepler Cheuvreux cuts target price to Sfr 21; rating hold
* ASML ASML.AS : Natixis raises price target to 90 euros from 82 euros; rating buy
* Assa Abloy AB ASSAb.ST : UBS cuts to neutral from buy
* Assa Abloy AB ASSAb.ST : UBS raises price target to Sek 395 from Sek 373
* Atlas Development & Support ADSS.L : Cantor starts with buy rating and target of 14p
* Autogrill AGL.MI : Kepler Cheuvreux raises to buy from hold
* Autogrill AGL.MI : Natixis cuts target price to 6 euros from 6.50 euros; rating neutral
* Aveva AVV.L : Citigroup cuts target price to 1,745p from 2,450p; rating buy
* Axel Springer SPRGn.DE : Nomura starts with a neutral rating and target of 48.5 euros
* Bank Zachodni WBK BZW.WA : Credit Suisse cuts target to Pln 367 from Pln 380; neutral
* Bauer B5AG.DE : Kepler Cheuvreux cuts target price to 13 euros from 16 euros; rating hold
* Boskalis BOSN.AS : KBC cuts price target to 42 euros from 46 euros; rating accumulate
* Bpost BPOST.BR : Berenberg cuts to hold from buy
* Cambian Group CMBNC.L : Canaccord Genuity raises target price to 312p; rating buy
* Constantin Medien EV4G.DE : DZ Bank AG raises target to 2.00 euros from 1.95 euros; buy
* Continental AG CONG.DE : Barclays cuts target to 173 euros from 195 euros; overweight
* CRH CRH.L : Deutsche Bank cuts target price to 1420p; rating hold
* CTT CTT.LS : RBC cuts price target to 6.80 euros from 6.90 euros; rating underperform
* Dairy Crest DCG.L : Credit Suisse raises to neutral from underperform
* Dairy Crest DCG.L : Credit Suisse raises price target to 485p from 390p
* Dairy Crest DCG.L : UBS raises to buy from neutral; raises price target to 515p from 410p
* Delticom AG DEXGn.DE : Montega raises target to 22.50 euros from 22.00 euros; rating buy
* Delticom DEXGn.DE : Exane BNP Paribas raises target by 79 pct to 25 euros; outperform
* Deutsche Telekom DTEGn.DE : Exane BNP Paribas raises to outperform from neutral
* Deutsche Telekom DTEGn.DE : Exane BNP Paribas raises target price to 14.5 euros
* DIA DIDA.MC : SocGen adds stock to SocGen'S mid & small-caps premium list; rating buy
* Diageo DGE.L : SocGen raises price target to 1700p from 1600p; rating sell
* Ecotel Communication E4CG.DE : DZ Bank AG ups target to 12.50 euros from 11.00 euros; buy
* EDF EDF.PA : Morgan Stanley cuts price target to 23 euros from 26.50 euros; equal-weight
* ElectroComponents ECM.L : Jefferies cuts price target to 195p from 230p; rating hold
* Electrocomponents ECM.L : Numis cuts to add from buy; target price to 235p from 315p
* Electrocomponents ECM.L : RBC cuts price target to 210p from 225p; rating sector perform
* Ericsson ERICb.ST : Barclays raises target to Sek 79 from Sek 76; rating underweight
* Ericsson ERICb.ST : BofA Merrill raises target to Sek 76 from Sek 74; rating underperform
* Ericsson ERICb.ST : Natixis raises target price to Sek 100 from Sek 95; rating buy
* Ericsson ERICb.ST : Nomura raises target price to Sek 92.6 from Sek 87; rating neutral
* Eurazeo EURA.PA : Exane BNP Paribas cuts target by 9 pct to 63 euros; rating outperform
* Eurazeo EURA.PA : Natixis cuts price target to 67 euros from 69 euros; rating buy
* Eurazeo EURA.PA : SocGen adjusts target price to 59 euros from 62.5 euros; rating buy
* FBD Holdings FBD.I : Berenberg cuts target to 12.40 euros from 20.20 euros; rating buy
* FCA FCHA.MI : SocGen raises target price to 9.5 euros from 8.6 euros; rating hold
* Fiera Milano FIMI.MI : ESN/Banca Akros raises to hold from reduce
* G4S GFS.L : Deutsche Bank raises target price to 220p from 210p; rating sell
* Game Digital GMDG.L :HSBC cuts to neutral from overweight;raises target to 410p from 285p
* Gemfields GEM.L : Numis starts with buy rating and price target of 70p
* Genel Energy GENL.L : JP Morgan cuts target to 27.40 euros from 30.70 euros; neutral
* Genel GENL.L : UBS raises price target to 950p from 875p; rating buy
* Genfit GNFT.PA : Kepler Cheuvreux starts with buy; price target 50 euros
* Geox GEO.MI : ESN/Banca Akros raises to accumulate from hold
* Geox GEO.MI : ESN/Banca Akros raises target price to 3.10 euros from 2.90 euros
* Geox GEO.MI : Citigroup raises to buy from neutral; target to 2.9 euros from 2.5 euros
* Global Telecom GLTDq.L : Barclays cuts price target to $3.80 from $4; rating overweight
* Great Portland GPOR.L : Jefferies raises price target 753p from 719p; rating hold
* Great Portland GPOR.L : Exane BNP Paribas ups target by 3 pct to 790p; outperform
* Great Portland GPOR.L : Liberum raises price target to 744p from 740p; rating buy
* Heidelberger Druck HDDG.DE : HSBC cuts target to 2.1 euros from 2.6 euros; rating neutral
* Heineken HEIN.AS : SocGen raises price target to 70 euros from 66 euros; rating buy
* Hellenic Petroleum HEPr.AT : Nomura cuts target to 6 euros from 7.50 euros;rating neutral
* Heurtey Petrochem ALHPC.PA : Natixis cuts target to 34 euros from 36 euros; rating buy
* Immunodiagnostic Systems Holdings IDH.L : Canaccord Genuity cuts target to 280p; sell
* ING ING.AS : JP Morgan raises price target to 13.20 euros from 13 euros; overweight
* Italcementi ITAI.MI : Exane BNP Paribas cuts target by 7 pct to 6.5 euros; outperform
* ITV ITV.L : JP Morgan raises price target to 243p from 232p; rating overweight
* Jensen Group SA JEN.BR : KBC raises target to 16.80 euros from 16 euros;rating accumulate
* Joyou AG JY8G.DE : DZ Bank AG raises target to 22.00 euros from 20.00 euros; rating buy
* K&S SDFGn.DE : JP Morgan raises price target to 34 euros from 33 euros; rating overweight
* K&S SDFGn.DE : Credit Suisse raises target to 20.50 euros from 20 euros; underperform
* K&S SDFGn.DE : JP Morgan raises price target to 34 euros from 33 euros; rating overweight
* K&S SDFGn.DE : BMO raises price target to 23 euros from 22 euros; rating market perform
* KBC Groupe SA KBC.BR : BofA Merrill raises target to 54.80 euros from 54.30 euros; buy
* KBC Groupe SA KBC.BR : UBS raises target to 47 euros from 45.70 euros; rating neutral
* Lagardere LAGA.PA : ESN/CM - CIC Securities raises to accumulate from hold
* Lagardere LAGA.PA : Barclays cuts target to 22.50 euros from 24 euros;rating equal weight
* Lonmin Plc LMI.L : Investec cuts price target to 133p from 149p; rating sell
* Matas MATAS.CO : Nordea Equity Research cuts target to Dkk 135 from Dkk 155; rating hold
* Maternus Kliniken MAKG.DE : DZ Bank raises target to 0.42 euros from 0.40 euros; hold
* MAX Automation AG MAXG.DE : ESN/Equinet Bank cuts to accumulate from buy
* MAX Automation AG MAXG.DE : ESN/Equinet Bank cuts target price to 5 euros from 6 euros
* Mears Group Plc MERG.L : Jefferies cuts price target to 410p from 480p; rating hold
* Mediolanum MED.MI : Kepler Cheuvreux cuts to hold from buy; price target to 5.8 euros
* Merck KGAA MRCG.DE : BofA Merrill raises to neutral from underperform
* Merck KGAA MRCG.DE : BofA Merrill raises price target to 79 euros ROM 71 euros
* Merck KGAA MRCG.DE : Credit Suisse raises price target to 81 euros; rating neutral
* MLP MLPG.DE :ESN/Equinet Bank cuts target to 5 euros from 5.70 euros; rating accumulate
* Mologen AG MGNG.DE : DZ Bank AG cuts target to 15.00 euros from 16.00 euros; rating buy
* Monte DEI Paschi DI Siena BMPS.MI : JP Morgan cuts target to 1 euros; rating neutral
* Montea MONTE.BR : ING starts with hold rating; price target of 32 euros
* Neste Oil NES1V.HE : Nomura raises target to 16.50 euros from 15 euros; rating neutral
* Nestle NESN.VX : Deutsche Bank cuts target price to 67.50 Sfr from 71 Sfr; rating hold
* Nordex NDXG.DE : Commerzbank raises target price to 17 euros from 16 euros; rating buy
* Norma Group NOEJ.DE : HSBC raises price target to 39 euros from 37 euros; rating neutral
* Novae Group NVA.L : Numis raises to add from hold rating; raises target by 25p to 610p
* Nutreco NUO.AS : ESN/SNS Securities raises target to 50 euros from 48 euros; rating buy
* Outotec OTE1V.HE : Morgan Stanley cuts price target to 4.70 euros from 5.80;equal-weight
* Pekao PEO.WA : Credit Suisse cuts target price to Pln 173 from Pln 174; rating neutral
* Pernod Ricard PERP.PA : SocGen raises price target to 105 euros from 100 euros; buy
* PGE PGE.WA : HSBC cuts price target to Pln 22.9 from Pln 25; rating neutral
* PKO BP PKO.WA : Credit Suisse cuts target to Pln 32 from Pln 36; rating underperform
* Polar Capital POLR.L : Canaccord Genuity cuts price target to 600p; rating buy
* Polyus Gold PGIL.L : BofA Merrill cuts to underperform from neutral
* Polyus Gold PGIL.L : BofA Merrill cuts price target to 180p from 195p
* Polyus Gold PGIL.L : BMO cuts target price to 220p; rating market perform
* Porsche Automobil PSHG_p.DE :Berenberg cuts target to 100 euros from 109 euros;rating buy
* Premier Farnell PFL.L : Jefferies cuts price target to 230p from 250p; rating buy
* Premier Oil PMO.L : Deutsche Bank cuts target price to 330p from 335p; rating buy
* Rexam REX.L : Barclays cuts price target to 520p from 570p; rating overweight
* Rexam REX.L : Credit Suisse cuts price target to 505p from 545p; rating neutral
* Rexam REX.L : Goldman Sachs cuts price target to 452p from 516p; rating neutral
* Rexam REX.L : Baird cuts target price to 500p from 550p; rating neutral
* Rexam REX.L : S&P Capital IQ cuts to hold from buy ; target price to 460p from 565p
* RTL Group AUDKt.BR : SocGen cuts price target to 87 euros from 91 euros; rating buy
* RTL Group RRTL.DE : KBC cuts price target to 82 euros from 86 euros; rating accumulate
* RTL Group RRTL.F : HSBC raises price target to 80 euros from 78 euros; rating neutral
* RTL Group AUDKt.BR : Barclays cuts target to 85 euros from 87.50 euros; rating overweight
* SABMiller SAB.L : Barclays cuts price target to 3325p from 3400p; rating equal weight
* SABMiller SAB.L : SocGen raises price target to 3600p from 3250p; rating hold
* SABMiller SAB.L : Nomura cuts price target to 3450p from 3500p; rating neutral
* SABMiller SAB.L : Berenberg cuts target price to 3800p from 3850p; rating buy
* SABMiller SAB.L : JP Morgan raises price target to 3,800p from 3,600p; rating overweight
* SABMiller SAB.L : Natixis cuts to neutral from buy
* Safestore SAFE.L : Sanlam Securities raises price target by 2 pct to 276p; rating buy
* Salvatore Ferragamo SFER.MI : Bryan Garnier cuts fair value to 23.4 euros;rating buy
* Salzgitter SZGG.DE : Credit Suisse raises to outperform from neutral
* Salzgitter SZGG.DE : JP Morgan raises target to 40.50 euros from 38.50 euros; overweight
* Saras SRS.MI : Nomura raises to buy from reduce;cuts target to 0.85 euros from 0.90 euros
* SBM Offshore SBMO.AS : Barclays raises price target to 16.90 euros from 16.80 euros
* SBM Offshore SBMO.AS : SocGen raises target to 13 euros from 12.4 euros; rating hold
* Siemens AG SIEGn.DE : DZ Bank cuts target to 105.00 euros from 115.00 euros; rating buy
* Sodexo EXHO.PA : Barclays raises price target to 83 euros from 81 euros; equal weigh
* Sodexo EXHO.PA : SocGen cuts target price to 89 euros; rating buy
* Sodexo EXHO.PA : UBS raises price target to 80 euros from 75 euros; rating neutral
* Solvay SOLB.BR : BofA Merrill cuts price target to 132 euros from 136 euros; rating buy
* Spirent Communications SPT.L : Jefferies raises price target to 81p from 76p; rating hold
* Stada STAGn.DE : Barclays raises price target to 28.60 euros from 28.40 euros
* Stada STAGn.DE : HSBC cuts target to 32 euros FOM 34 euros; rating neutral
* Stada STAGn.DE : UBS cuts price target to 35 euros from 38 euros; rating buy
* Stada STAGn.DE : Deutsche Bank cuts target to 36 euros from 40 euros; rating buy
* Suedzucker SZUG.DE : DZ Bank raises target to 13.00 euros from 12.00 euros; rating hold
* Svenska Cellulosa SCAb.ST : Morgan Stanley cuts target to Sek 200 from Sek 210;overweight
* Symrise SY1G.DE : Exane BNP Paribas raises target by 6 pct to 42.5 euros; neutral
* Symrise SY1G.DE : Kepler Cheuvreux raises target to 45 euros from 40 euros; rating hold
* Symrise SY1G.DE :Goldman removes from pan-europe conviction buy list
* Symrise SY1G.DE :Goldman raises price target to 55 Euros from 53 Euros; rating buy
* Talanx TLXGn.DE : JP Morgan cuts to neutral from overweight; target to 27.4 eur from 30.7
* Talanx TLXGn.DE : DZ Bank cuts target price to 25.00 euros from 27.50 euros; rating hold
* Telecom Italia (SAVINGS) TLITn.MI : JP Morgan raises target to 0.88 EUR; overweight
* Telecom Italia TLIT.MI : JP Morgan raises target to 1.10 euros from 1 euro; overweight
* Telefonica TEF.MC : Citigroup raises target to 11.50 euros from 11 euros; rating neutral
* Telekom Austria TELA.VI : Exane BNP Paribas cuts target price by 25 pct to 7 euros
* Tenaris TENR.MI : Credit Suisse cuts target to 14 euros from 15 euros;rating underperform
* Tesco TSCO.L : HSBC raises to overweight rating; price target to 240p from 195p
* ThyssenKrupp TKAG.DE : HSBC cuts target to 21.3 euros from 22.5 euros; rating neutral
* Tullow Oil TLW.L : BMO cuts target price to 700p from 1,000p; rating outperform
* Ubisoft UBIP.PA : Natixis raises target price to 18 euros from 17 euros; rating buy
* United Power UP7G.DE : Kepler Cheuvreux cuts target to 1.50 euros from 2 euros; reduce
* UPM UPM1V.HE : Jefferies raises price target to 13 euros from 12.80 euros; rating hold
* UPM UPM1V.HE : Credit Suisse ups target to 14.40 euros from 13.65 euros; neutral
* UPM UPM1V.HE : ESN/Pohjola raises target to 12 euros from 11 euros; rating reduce
* Vernalis VER.L : Canaccord Genuity raises target price to 66p; rating buy
* Vestas VWS.CO : Commerzbank raises to hold from reduce
* WDP WDPP.BR : ING raises price target to 55.1 euros from 51.5 euros; rating hold
* Weir Group Plc WEIR.L : HSBC raises to neutral from underweight
* Weir Group Plc WEIR.L : HSBC cuts price target to 2300p from 2500p
* William Demant WDH.CO : Credit Suisse cuts target to Dkk 445 from Dkk 455; rating neutral
* William Demant WDH.CO : Nordea Equity Research cuts target to Dkk 520 from Dkk 560; buy
* William Demant WDH.CO : Jyske Bank cuts target price to Dkk 485; rating buy
* YIT OYJ YTY1V.HE : Berenberg cuts price target to 6.50 euros from 8.10 euros; rating hold
SECTOR CHANGES:
* European Refiners: Nomura raises to neutral from bearish
(Compiled by Fareha Khan, Rama Venkat Raman and Jai Ganesh 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/