EUROPE RESEARCH ROUNDUP: Inditex, Heidelbergcement, Zurich Insurance

Bijou Brigitte modische Accessoires AG

27/11/2013 14:11

Nov 27 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Inditex and Heidelbergcement, on Wednesday.  
     
    HIGHLIGHTS 
    * Inditex S.A.  ITX.MC : SocGen raises target price to 146 euros from 141 euros; rating buy 
    * Heidelbergcement  HEIG.DE : Berenberg raises to buy from hold 
    * Zurich Insurance  ZURN.VX : Berenberg cuts to hold from buy 
    * Mobistar  MSTAR.BR : HSBC cuts to underweight from neutral  
       
Following is a summary of research actions on European companies reported by Reuters on 
Wednesday. Stock entries are in alphabetical order. See bottom of the table for sector changes.  
     
    * Abengoa  ABGek.MC : Citigroup starts with buy rating; price target of 2.6 euros 
    * Ageas  AGES.BR : HSBC ups target to 38 euros from 37.5 euros; rating overweight  
    * Aker  AKSO.OL : Barclays ups target to Nok 106 from Nok 102; rating underweight 
    * Algeta  ALGETA.OL : UBS raises to neutral from sell; target to Nok 336 from Nok 165 
    * Algeta  ALGETA.OL : Credit Suisse raises price target to Nok 350 from Nok 250 
    * Allianz  ALVG.DE : HSBC ups target to 155 euros from 145 euros; rating overweight  
    * AP Moeller  MAERSKb.CO : Jefferies ups target to Dkk 38,500 from Dkk 34,500; underperform 
    * Aviva  AV.L : HSBC raises price target to 480p from 400p; rating neutral  
    * Aviva PLC  AV.L : Nomura raises price target to 489p from 474p; rating buy 
    * AXA  AXAF.PA : Berenberg raises target price to 21.90 euros from 20.20 euros; rating buy 
    * Axa  AXAF.PA : HSBC raises price target to 22.8 euros from 21 euros; rating overweight  
    * Baloise  BALN.VX : HSBC raises price target to Sfr 110 from Sfr 103; rating neutral 
    * Barry Callebaut  BARN.S : Berenberg ups target to Sfr 1060 from Sfr 900; rating hold 
    * Belgacom  BCOM.BR : HSBC raises price target to 25 euros from 21 euros; rating overweight 
    * Bijou Brigitte  BIJG.DE : Deutsche Bank raises to buy from hold 
    * Bijou Brigitte  BIJG.DE : Deutsche Bank ups target to 86 euros from 66 euros 
    * Billerudkorsnas  BILL.ST : Kepler Cheuvreux raises target to Sek 85 from Sek 72; buy 
    * BNP Paribas  BNPP.PA : Barclays ups target to 62 euros from 59 euros; overweight  
    * Boskalis  BOSN.AS : Kepler Cheuvreux target price to 45 euros from 38 euros; rating buy 
    * Breedon Aggregates  BREE.L : Jefferies starts with buy; price target 42p   
    * Britvic  BVIC.L : UBS raises price target to 600p from 575p; rating neutral 
    * Britvic  BVIC.L : Barclays raises to overweight from equal weight 
    * Britvic  BVIC.L : Barclays raises price target to 690p from 560p 
    * BTG PLC  BTG.L : Deutsche Bank raises price target to 570p from 500p; rating buy 
    * BTG  BTG.L : Panmure ups target to 610p from 490p; rating buy 
    * Catlin  CGL.L : UBS raises price target to 520p from 470p; rating neutral  
    * CNP  CNPP.PA : HSBC raises price target to 17.4 euros from 17.2 euros; rating overweight  
    * Colruyt  COLR.BR : Exane BNP Paribas ups target by 10 percent to 37.5 euros; underperform 
    * Colruyt  COLR.BR : Barclays ups target to 32 euros from 30 euros; rating underweight 
    * Commerzbank  CBKG.DE : Barclays ups target to 8.50 euros from 7.50 euros; underweight 
    * Compass  CPG.L : Barclays ups target to 1060p from 1000p; rating overweight 
    * Compass  CPG.L : Panmure raises price target to 900p from 820p; rating hold  
    * Credit Agricole  CAGR.PA : Barclays ups target to 8 euros from 7 euros; underweight  
    * De La Rue  DLAR.L : Citigroup cuts to neutral from buy; target price to 1000p from 1055p 
    * DLG  DLGD.L : HSBC cuts price target to 248p from 250p; rating neutral  
    * DS Smith  SMDS.L : Citigroup raises target price to 340p from 300p; rating buy 
    * Elekta EKTAb.ST: Goldman Sachs ups target to Sek 156 from Sek 133 
    * Elekta EKTAb.ST: Goldman Sachs reiterates conviction-list buy 
    * Elia  ELI.BR : Goldman Sachs starts with neutral; price target 34.50 euros 
    * Elmos  ELGG.DE : DZ Bank raises price target to 13 euros from 10 euros; rating buy 
    * Ence  ENC.MC : Kepler Cheuvreux raises target to 3.35 euros from 2.85 euros; buy 
    * Essar  ESSR.L : Deutsche Bank cuts price target to 75p from 175p; rating hold 
    * Faiveley  FAIP.PA : SocGen cuts target price to 60 euros from 62 euros; rating buy 
    * Faiveley  FAIP.PA : Natixis cuts target to 62 euros from 64 euros; rating buy 
    * Fresnillo  FRES.L : CIBC cuts price target to 850p from 1000p; sector performer 
    * Global Ports  GLPRq.L : JP Morgan raises target to $15.38 from $15.24; rating neutral 
    * Heidelbergcement  HEIG.DE : Berenberg raises to buy from hold 
    * Heidelbergcement  HEIG.DE : Berenberg raises price target to 63 euros from 50 euros 
    * Hikma  HIK.L : Goldman Sachs ups target to 1200p from 1180p; rating neutral  
    * Hiscox  HSX.L : UBS raises price target to 675p from 620p; rating neutral 
    * Hugo Boss  BOSSn.DE : Kepler Cheuvreux cuts target to 98 euros from 100 euros; hold 
    * IGas Energy  IGAS.L : Canaccord Genuity cuts target price to 180p from 181p; rating buy 
    * Imagination Technologies  IMG.L : Jefferies cuts target to 392p from 628p; rating buy 
    * Imerys  IMTP.PA : UBS raises price target to 64 euros from 54 euros; rating buy  
    * Inditex S.A.  ITX.MC : SocGen raises target price to 146 euros from 141 euros; rating buy 
    * ING  ING.AS : Barclays raises target to 9.80 euros from 8.50 euros; rating equal weight  
    * Innovation Group  TIG.L : Panmure raises price target to 44p from 41p; rating buy 
    * Intesa Sanpaolo  ISP.MI : Credit Suisse cuts to neutral from outperform 
    * KBC  KBC.BR : Barclays raises price target to 45 euros from 40 euros; overweight 
    * Komax  KOMN.S : Vontobel raises target price to Sfr 150 from Sfr 140; rating buy 
    * L&G  LGEN.L : HSBC raises price target to 250p from 230p; rating overweight  
    * Ladbrokes  LAD.L : Barclays cuts price target to 188p from 218p; rating equal weight 
    * Marshalls  MSLH.L : Jefferies starts with hold; price target 166p  
    * Mikron Holding AG  MIKN.S : Vontobel cuts target to Sfr 5.8 from Sfr 6; hold 
    * Mitchells & Butlers  MAB.L : JP Morgan raises to neutral from underweight 
    * Mitchells & Butlers  MAB.L : Nomura raises target to 390p from 370p; neutral 
    * Mitchells & Butlers  MAB.L : Panmure ups target to 365p from 310p; rating sell 
    * MITIE Group  MTO.L : UBS cuts to neutral from buy; raises price target to 320p from 305p 
    * Mobistar  MSTAR.BR : HSBC cuts to underweight from neutral 
    * Mobistar  MSTAR.BR : HSBC raises target price to 13 euros from 12 euros  
    * MTU Aero Engines  MTXGn.DE : JP Morgan raises target to 77 euros from 75 euros; neutral 
    * MTU Aero Engines  MTXGn.DE : UBS cuts to sell from neutral 
    * MTU Aero Engines  MTXGn.DE : UBS cuts target to 63 euros from 70 euros 
    * MTU Aero Engines  MTXGn.DE : Deutsche Bank cuts target to 69 euros from 70 euros; hold 
    * NCSP  NCSPq.L : JP Morgan cuts to underweight from overweight; target to $6.35 from $9.91 
    * NMC Health  NMC.L : Numis raises price target to 560p from 500p; rating buy 
    * Nyrstar  NYR.BR : Goldman Sachs raises target price to 1.90 euros from 1.60 euros; sell 
    * Prudential  PRU.L : HSBC raises price target to 1550p from 1460p; rating overweight  
    * PZU  PZU.WA : HSBC raises price target to Pln 400 from Pln 390; rating underweight  
    * Remy Cointreau  RCOP.PA : Berenberg cuts target to 72 euros from 80 euros; hold 
    * Remy Cointreau  RCOP.PA : JP Morgan cuts target to 56 euros from 65 euros; underweight 
    * Remy  RCOP.PA : Nomura cuts target to 51 euros from 62 euros; reduce  
    * Remy Cointreau  RCOP.PA : Natixis cuts price target to 75 euros from 89 euros; rating buy 
    * Remy  RCOP.PA : ESN/CM - CIC Securities cuts to hold from buy 
    * Remy  RCOP.PA : ESN/CM - CIC Securities cuts target price to 64 euros from 100 euros 
    * Remy  RCOP.PA : Kepler Cheuvreux cuts target to 81.50 euros from 90 euros; buy 
    * Rexel SA  RXL.PA : Natixis raises target to 19 euros from 18.5 euros; neutral 
    * Royal Mail  RMG.L : Barclays raises price target to 500p from 466p; equal weight 
    * Rio Tinto  RIO.L : Canaccord Genuity cuts target price to 4000p from 4100p; rating buy 
    * RSA  RSA.L : HSBC cuts price target to 115p from 128p; rating neutral  
    * Shaftesbury  SHB.L : Liberum raises target price to 636p from 622p; hold  
    * Societe Generale  SOGN.PA : Barclays ups target to 43 euros from 38 euros; equal weight  
    * Sodexo  EXHO.PA : Credit Suisse ups target to 80.30 euros from 71.90 euros; neutral 
    * Swiss Life  SLHN.VX : HSBC raises price target to Sfr 200 from Sfr 195; rating neutral 
    * Talanx  TLXGn.F : HSBC raises price target to 27.5 euros from 25.6 euros; rating neutral  
    * Telenet  TNET.BR : HSBC raises price target to 43 euros from 39 euros; rating neutral 
    * TMK  TRMKq.L : UBS cuts price target to $13.50 from $14.40; rating buy  
    * TMK  TRMKq.L : Natixis cuts price target to $11.9 from $12.7; rating neutral 
    * Tyman  TYMN.L : Jefferies starts with buy; price target 269p 
    * UBI Banca  UBI.MI : Credit Suisse ups target to 4.8 euros from 4.7euros; neutral 
    * UBS AG  UBSN.VX : RBC raises to outperform from sector perform 
    * UniCredit  CRDI.MI : Credit Suisse cuts target to 4.80 euros from 4.90 euros; neutral  
    * Verbund  VERB.VI : Raymond James raises to outperform from underperform  
    * Verbund  VERB.VI : Raymond James raises price target to 19.10 euros from 13.31 euros 
    * VIB Vermoegen  VIHG.DE : ESN/Equinet Bank cuts to accumulate from buy 
    * William Demant  WDH.CO : Goldman Sachs cuts target to Dkk 525 from Dkk 550; neutral 
    * ZIG  ZURNn.S : HSBC raises price target to Sfr 275 from Sfr 260; neutral 
    * Zurich Insurance  ZURN.VX : Berenberg cuts to hold from buy  
    * Zurich Insurance  ZURN.VX : Berenberg raises price target to Sfr 280 from Sfr 275  
 
 
 (Compiled by Sampad Patnaik in Bangalore) 
 ((sampad.patnaik@thomsonreuters.com)(Within U.S. +1 646 223 8780, outside U.S. +91 80 6749 
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Keywords: RESEARCH EUROPE/