EUROPE RESEARCH ROUNDUP: Arkema, RSA Insurance, JD Wetherspoon, Philips, UBS

Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret AS

05/02/2014 16:53

Feb 5 (Reuters) - ApaSecurities analysts revised their ratings and price targets on several 
European companies, including J D Wetherspoon, RSA Insurance and UBS AG, on Wednesday.  
     
    HIGHLIGHTS 
    * ARM Holdings  ARM.L : Jefferies, Citigroup cuts target price on the stock 
    * J D Wetherspoon  JDW.L : Barclays raises to overweight from equal weight  
    * Philips  PHG.AS : ING cuts to hold from buy 
    * Arkema SA  AKE.PA : Berenberg raises to buy from hold  
    * RSA Insurance  RSA.L : Barclays, Raymond James upgrade rating on the stock 
    * UBS AG  UBSN.VX : RBC, S&P Capital IQ raise target price on shares of the company 
 
Following is a summary of research actions on European companies reported by Reuters on 
Wednesday. Stock entries are in alphabetical order.  
     
    * Actelion  ATLN.VX : UBS raises target price to Sfr 100 from Sfr 88; rating buy 
    * AIK Banka  AIKB.BEL : Erste Group cuts to hold from accumulate 
    * Akzo Nobel  AKZO.AS : Berenberg raises target to 44 euros from 38 euros; rating sell 
    * Alstom  ALSO.PA : RBC cuts target price to 16 euros from 17 euros; rating underperform 
    * AMS  AMS.S : Vontobel raises target price to Sfr 155 from Sfr 145; rating buy 
    * AMS  AMS.S : UBS cuts target price to Sfr 120 from Sfr 125; rating buy 
    * AMS  MS.S : Natixis cuts target price to Sfr 100 from Sfr 110; rating neutral 
    * Arcelormittal  MT.N : HSBC raises to overweight from neutral 
    * Arcelormittal  MT.N : HSBC raises target to $19.60 from $16.80 
    * Arkema SA  AKE.PA : Berenberg raises target price to 96 euros from 76 euros 
    * Arkema SA  AKE.PA : Berenberg raises to buy from hold  
    * ARM Holdings  ARM.L : Jefferies cuts target price to 1140p from 1300p; rating buy 
    * ARM Holdings  ARM.L : Citigroup cuts target to 1020p from 1150p; rating buy 
    * ARM Holdings  ARM.L : Credit Suisse cuts target to 1050p from 1100p; rating outperform 
    * ARM Holdings  ARM.L : Deutsche Bank cuts target price to 975p from 1,070p; rating hold 
    * ARM Holdings  ARM.L : Numis raises to hold from reduce 
    * ARM Holdings  ARM.L : Numis raises target price to 880p from 800p 
    * ARM Holdings  ARM.L : Natixis cuts target price to 970p from 1020p; rating neutral 
    * ARM Holdings  ARM.L : RBC cuts target price to 1050p from 1080p; rating outperform 
    * ARM Holdings  ARM.L : BMO cuts target price to 900p from 1150p; rating market perform 
    * Arrow Global  ARWA.L : Panmure starts with buy; target 335p 
    * Allianz  ALVG.DE : Exane BNP Paribas ups target by 4 pct to 143 euros; rating outperform  
    * Ashmore Group  ASHM.L : Canaccord Genuity raises to buy from hold 
    * AXA  AXAF.PA : Exane BNP Paribas raises target by 12 pct to 23 euros; rating outperform  
    * Balfour Beatty  BALF.L : RBC raises to outperform from underperform 
    * Balfour Beatty  BALF.L : RBC raises target price to 310p from 210p 
    * BASF  BASFn.DE : Berenberg raises target price to 77 euros from 68 euros; rating hold  
    * BBVA  BBVA.MC : Berenberg cuts target price to 6.50 euros from 6.70 euros;rating sell 
    * Bechtle  BC8G.DE : DZ Bank raises fair value to 60 euros from 57 euros; rating buy 
    * Beazley  BEZG.L : Nomura raises target price to 292p from 225p; rating buy 
    * BG Group  BG.L : S&P Capital IQ cuts target price to 1050p from 1063p; rating sell 
    * Biofrontera  B8FGn.DE : Finncap cuts price target to 4.3 euros 
    * BNP Paribas  BNPP.PA : Citigroup raises target price to 71 euros from 68 euros; buy 
    * BG Group  BG.L : RBC cuts target price to 1210p from 1400p; rating sector perform 
    * BP  BP.L : SocGen raises target price to 540p from 530p; rating buy 
    * Bouygues  BOUY.PA : RBC cuts to underperform from sector perform 
    * Bouygues  BOUY.PA : RBC cuts target price to 23 euros from 24 euros 
    * Brisa  BRISA.IS : Renaissance Capital starts with buy rating; target Tl 7.10 
    * BT Group  BT.L : Deutsche Bank raises target price to 384p from 347p; rating hold 
    * Cargotec  CGCBV.HE : HSBC ups to overweight from neutral; target to 34 euros from 29euros 
    * CAT OIL  O2C.DE : HSBC raises to overweight from neutral 
    * Catlin Group  CGL.L : Nomura cuts to neutral from buy; raises target to 568p from 555p 
    * CNH Industrial  CNHI.MI : Barclays cuts target to 10 euros from 10.5 euros; overweight 
    * Coloplast A/S  COLOb.CO  UBS raises target price to Dkk 400 from Dkk 320; rating neutral 
    * Coloplast  COLOb.CO : S&P Capital IQ raises target to Dkk 356 from Dkk 314; rating sell 
    * Credit Agricole  CAGR.PA : Citigroup raises target to 12 euros from 10.90 euros; buy  
    * De Longhi SpA  DLG.MI : Berenberg starts with buy rating; target price 19 euros  
    * Dixy Group  DIXY.MM : Goldman Sachs cuts to neutral from buy 
    * Domino Printing Sciences  DOPR.L : Peel Hunt starts with buy rating; target 890p 
    * Drax Group  DRX.L : Investec raises target price to 1000p from 725p; rating buy 
    * E2V Technologies  E2V.L : Peel Hunt starts with hold; target 155p 
    * Electrocomponents  ECM.L : RBC cuts target price to 260p from 280p; rating sector perform 
    * Euro Disney  EDLP.PA : Natixis cuts target to 4.3 euros from 5 euros; rating neutral 
    * Faurecia  EPED.PA : Exane BNP Paribas ups target by 17 pct to 35 euros; rating outperform  
    * Fortum  FUM1V.HE : Morgan Stanley raises target price to 15.50 euros from 15; underweight 
    * Fortum  FUM1V.HE : S&P Capital IQ cuts to sell from hold rating 
    * Finmeccanica  SIFI.MI : Kepler Cheuvreux raises target to 7.5 euros from 6.1 euros; buy 
    * Generali  GASI.MI : Exane BNP Paribas ups target by 6 pct to 17 euros; underperform  
    * Givaudan SA  GIVN.VX : Berenberg raises target price to Sfr 1350 from Sfr 900 
    * Givaudan SA  GIVN.VX : Berenberg raises to hold from sell  
    * Greene King  GNK.L : Barclays raises target price to 900p from 735p; rating equal weight 
    * Hamon  HAMO.BR : Exane BNP Paribas cuts target by 33 percent to 16 euros; rating neutral 
    * Havas  EURC.PA : Liberum raises target price to 6 euros from 5 euros; rating hold 
    * Heidelbergcement  HEIG.DE : Davy Research cuts to neutral from outperform 
    * Hellermanntyton Group  HTY.L : Peel Hunt starts with hold; target 300p 
    * Hiscox  HSX.L : Nomura raises to buy from reduce; target price to 710p from 527p 
    * Holcim  HOLN.VX : Davy Research raises to outperform from neutral  
    * Homag  HG1G.DE : Commerzbank resumes with buy rating; target 23 euros 
    * Inficon Holding  IFCN.S : UBS raises target price to Sfr 330 from Sfr 320; rating buy 
    * ING  ING.AS : Credit Suisse adds to Europe focus list; keeps outperform rating 
    * J D Wetherspoon Plc  JDW.L : Barclays raises to overweight from equal weight   
    * Kazakhmys  KAZ.L : Citigroup reinstates with neutral; target 2000p 
    * Kofax  KFX.L : Jefferies raises target price to 560p from 450p; rating buy 
    * Kudelski  KUD.S : Vontobel raises target price to Sfr 14 from Sfr 12.5; rating hold 
    * Lafarge SA  LAFP.PA : Citigroup cuts to neutral from buy; target to 54 euros from 57.50 
    * Lancashire Holdings  LRE.L : Nomura cuts to reduce from neutral; target to 695p from 848p 
    * Lundin Petroleum  LUPE.ST : Swedbank raises to strong buy from buy 
    * LVMH  LVMH.PA : Berenberg raises target price to 163 euros from 150 euros; rating buy 
    * Massmart Holdings  MSMJ.J : Goldman Sachs raises to neutral from sell  
    * Mapfre  MAP.MC : Exane BNP Paribas ups target by 12 pct to 2.8 euros; rating underperform  
    * Migros Ticaret  MGROS.IS : Goldman Sachs cuts to neutral from buy 
    * Moleskine  MSK.MI : UBS cuts target price to 2.50 euros from 2.75 euros; rating buy 
    * Munich Re  MUVGn.DE : S&P Capital IQ raises target price to 165 euros from155 euros; hold 
    * Natixis Sa  CNAT.PA : Citigroup raises target to 4.60 euros from 4.35 euros; neutral  
    * Neste Oil  NES1V.HE : SocGen raises to buy from hold 
    * Neste Oil  NES1V.HE : UBS raises target to 15.50 euros from 14.25 euros; rating neutral 
    * Neste Oil  NES1V.HE : Nomura raises target to 15 euros from 14.50 euros; rating neutral 
    * Ocado Group  OCDO.L : Exane BNP Paribas cuts target by 3 pct to 340p; rating underperform 
    * OC Oerlikon  OERL.S : Helvea raises target price to Sfr 14.50 from Sfr 13; rating hold 
    * Orion Oyj  ORNBV.HE : Jefferies raises target to 19 euros from 17 euros; rating hold 
    * Oxford Instruments  OXIG.L : Peel Hunt cuts to hold from buy 
    * Philips  PHG.AS : ING cuts to hold from buy; cuts target to 27 euros from 30 euros 
    * Plastic Omnium  PLOF.PA : Exane BNP Paribas cuts target by 4 pct to 22 euros; neutral  
    * Premier Oil  PMO.L : Exane BNP Paribas raises to neutral from underperform 
    * Prosiebensat.1  PSMGn.DE : Goldman Sachs adds to conviction buy list 
    * Roche Holding  ROG.VX : Berenberg cuts target price to Sfr 275 from Sfr 278; rating buy 
    * Rockhopper Exploration  RKH.L : Goldman Sachs removes from Conviction List; rating buy 
    * RSA Insurance  RSA.L : Barclays raises to equal weight from underweight 
    * RSA Insurance Group  RSA.L : Raymond James raises to market perform from underperform 
    * Ryanair  RYA.I : Cantor Fitzgerald ups target to 8.30euros from 7euros;rating buy 
    * Sika  SIK.VX : Credit Suisse raises target to Sfr 2700 from Sfr 2300; rating neutral 
    * Societe Generale  SOGN.PA : Citigroup raises target to 55 euros from50 euros; rating buy 
    * Solvay  SOLB.BR : Berenberg raises target price to 93 euros from 88 euros; rating sell  
    * Spirit Pub Company  SPRTC.L : Barclays raises target price to 91p from75p; equal weight 
    * Symrise AG  SY1G.DE : Berenberg raises to buy from hold  
    * Syngenta  SYNN.VX : Morgan Stanley cuts target to Sfr 330 from Sfr 350; equal-weight 
    * Talktalk Telecom  TALK.L : Barclays raises target to 350p from 320p; rating overweight 
    * The Swatch Group  UHR.VX :SocGen raises to buy from hold 
    * Thomas Cook Group  TCG.L : Credit Suisse ups target to 253p from 195p; rating outperform 
    * ThyssenKrupp  TKAG.DE : HSBC cuts to underweight from neutral 
    * Trinity Mirror  TNI.L : Barclays raises target to 205p from 190p; rating equal weight 
    * TT Electronics  TTG.L : Peel Hunt raises to buy from hold 
    * Turk Traktor  TTRAK.IS : Burgan Securities raises to buy and hold 
    * UBS AG  UBSN.VX : RBC raises target price to Sfr 22 from Sfr 20; rating outperform 
    * UBS AG  UBSN.VX : S&P Capital IQ raises target price to Sfr 19 from Sfr 18; rating hold 
    * UBS AG  UBSN.VX : Exane BNP Paribas raises target by 15 pct to Sfr 19; rating neutral 
    * UBS AG  UBSN.VX : Natixis raises target price to Sfr 21.2 from Sfr 19; rating buy 
    * UBS AG  UBSN.VX :Helvea raises target price to Sfr 21.1 from Sfr 19.1; rating buy 
    * Unibail-Rodamco  UNBP.AS : UBS cuts target price to 193 euros from 200 euros; rating buy 
    * Utilitywise  UTW.L : Finncap raises target price to 350p 
    * Valeo  VLOF.PA : Exane BNP Paribas raises target by 5 percent to 82 euros; rating neutral 
    * Vallourec  VLLP.PA : Credit Suisse cuts target to 50 euros from 53 euros; outperform 
    * Valeo SA  VLOF.PA : SocGen raises target price to 100 euros from 78 euros; rating buy 
    * Victrex  VCTX.L : Deutsche Bank raises target price to 2,050p from 1,850p; rating buy 
    * Vinci  SGEF.PA : RBC raises to outperform from sector perform 
    * Vinci  SGEF.PA : RBC raises target price to 56 euros from 51 euros 
    * Vestas Wind Systems A/S  VWS.CO : SocGen cuts target to Dkk 215 from Dkk 230; rating buy 
    * Vestas  VWS.CO : Commerzbank raises target price to Dkk 150 from Dkk 130; rating reduce 
    * Zurich Insurance  ZURN.VX : Exane BNP Paribas ups target by 3pct to Sfr 310; outperform 
     
 
 (Compiled by Fareha Khan) 
 ((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/