Europe Research Roundup: GlaxoSmithKline, Antofagasta, Adidas, ASOS

Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret AS

19/03/2014 15:18

March 19 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including GlaxoSmithKline and Credit Agricole, on Wednesday.  
     
    HIGHLIGHTS 
    * Antofagasta  ANTO.L : Credit Suisse cuts to underperform; JP Morgan, others cut target  
    * ASOS PLC  ASOS.L : SocGen cuts to sell; Deutsche Bank, Citigroup, Liberum cut target 
    * Wacker Chemie  WCHG.DE : Credit Suisse raises to neutral from underperform 
    * Aurubis AG  NAFG.DE : Goldman Sachs adds to conviction-list buy  ID:nL6N0MG1LJ  
    * Credit Agricole  CAGR.PA : UBS, Citigroup raise price target on stock 
     
       
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.  
     
    * A2A Spa  A2.MI : Goldman Sachs raises target to 0.85 euro from 0.79 euro; rating sell 
    * Acciona  ANA.MC : Goldman Sachs raises target price to 52 euros from 48 euros; rating sell 
    * Adidas AG  ADSGn.DE : Berenberg cuts target price to 88 euros from 96 euros; rating buy 
    * Aer Lingus Group  AERL.I : Goldman Sachs cuts to neutral from buy 
    * Aer Lingus Group  AERL.I : Goldman Sachs raises price target to 1.70 euros from 1.65 euros 
    * Afren  AFRE.L : Canaccord Genuity cuts target price to 180p from 185p; rating buy 
    * Airbus Group NV  AIR.PA : Natixis cuts price target to 70 euros from 74 euros; rating buy 
    * Air France KLM  AIRF.PA : Goldman Sachs raises target to 11.70 euros from 9.25 euros; buy 
    * Air France KLM  AIRF.PA : Commerzbank raises target to 10 euros from 7.10 euros; hold 
    * Antofagasta PLC  ANTO.L : SocGen cuts target price to 772p from 794p; rating sell 
    * Antofagasta PLC  ANTO.L : Deutsche Bank cuts to sell from hold; target to 735p from 770p 
    * Antofagasta PLC  ANTO.L : JP Morgan cuts target price to 830p from 850p; rating neutral 
    * Antofagasta PLC  ANTO.L : Credit Suisse cuts to underperform from neutral 
    * Antofagasta PLC  ANTO.L : Citigroup cuts target price to 760p from 800p; rating sell 
    * Arcam publ AB  ARCM.ST : SEB Equity Research starts with buy; price target Sek 273 
    * ASOS PLC  ASOS.L : SocGen cuts to sell from hold rating 
    * ASOS PLC  ASOS.L : Deutsche Bank cuts target price to 5,800p from 6,200p; rating hold 
    * ASOS PLC  ASOS.L : Citigroup cuts target price to 7,000p from 8,000p; rating buy 
    * ASOS PLC  ASOS.L : Liberum cuts target price to 2,500p from 3,000p; rating sell 
    * ASOS PLC  ASOS.L : HSBC cuts target price to 7,300p from 8,200p; rating overweight 
    * Aurubis AG  NAFG.DE : Goldman Sachs adds to conviction-list buy 
    * Aviva PLC  AV.L : Exane BNP Paribas cuts to underperform from neutral 
    * Barclays PLC  BARC.L : Deutsche Bank cuts target price to 320p from 325p; rating buy 
    * Barclays PLC  BARC.L : JP Morgan cuts target price to 285p from 300p; rating overweight 
    * BBA Aviation PLC  BBA.L : Jefferies raises target price to 385p from 345p; rating buy 
    * BNP Paribas  BNPP.PA : Deutsche Bank cuts target to 58 euros from 59 euros; rating buy 
    * Brisa Lastik Sanayi  BRISA.IS : Oyak Securities starts with outperform; target tl 7.26 
    * Bureau Veritas  BVI.PA : Barclays cuts target to 21 euros from 22 euros; underweight 
    * Cairn Energy PLC  CNE.L : Deutsche Bank cuts target price to 280p from 345p; rating hold 
    * Cairn Energy PLC  CNE.L : UBS cuts target price to 175p from 250p; rating neutral 
    * Charlemagne Capital  CHAR.L : JP Morgan raises target to 16p from 15p; rating underweight 
    * Charles Taylor  CHAT.L : Peel Hunt raises target price to 279p from 259p; rating hold 
    * CLS Holdings PLC  CLSH.L : Peel Hunt raises to buy from hold 
    * Credit Agricole  CAGR.PA : UBS raises target to 12.50 euros from 12 euros; rating buy 
    * Credit Agricole  CAGR.PA : Citigroup raises target to 15 euros from 12 euros; rating buy 
    * Credit Agricole  CAGR.PA : UBS raises target to 12.50 euros from 12 euros; rating buy 
    * Credit Agricole  CAGR.PA : Citigroup raises target to 15 euros from 12 euros; rating buy 
    * Davide Campari Milano  CPRI.MI : SocGen cuts target to 5.40 euros from euros 5.60; sell 
    * Eland Oil & Gas  ELA.L : Canaccord Genuity raises target to 190p from 180p; rating buy 
    * Elekta  EKTAb.ST : SocGen cuts target price to Sek 115 from Sek 130; rating buy 
    * Endesa  ELE.MC : Goldman Sachs raises target to 21.4 euros from 18.8 euros; rating sell 
    * Enel  ENEI.MI : Goldman Sachs raises target to 3.50 euros from 3.30 euros; rating sell 
    * Enel SpA  ENEI.MI : Deutsche Bank raises target to 4.20 euros from 3.20 euros; rating hold 
    * Fastnet Oil & Gas  FASTF.L : Cantor starts with buy rating 
    * Forbo Holding  FORN.S : Vontobel raises target price to Sfr 1050 from Sfr 875; rating buy 
    * Fortum Oyj  FUM1V.HE : Goldman Sachs cuts target to 19 euros from 20 euros; rating neutral 
    * Fresenius SE & Co  FREG.DE : Goldman Sachs cuts target to 123 euros from 130 euros; buy 
    * G4S PLC  GFS.L : Credit Suisse cuts price target to 245p from 275p; rating neutral 
    * Gem Diamonds  GEMD.L : RBC raises price target to 190p from 180p; rating sector perform 
    * Generali  GASI.MI : Credit Suisse cuts target to 17.50 euros from 17.60 euros;underperform 
    * Glaxosmithkline  GSK.L : Jefferies cuts target price to 1600p; rating hold  
    * Global Ports Investments  GLPRq.L : Renaissance Capital cuts to sell from hold rating 
    * Greencore Group PLC  GNC.L : Panmure raises target price to 292p from 275p; rating buy 
    * Greencore Group PLC  GNC.L : Numis raises target price to 276p; rating hold 
    * Heritage Oil  HOIL.L : Canaccord Genuity raises target price to 355p from 280p; rating buy 
    * HSBC Holdings  HSBA.L : Credit Suisse cuts to underperform from outperform 
    * HSBC Holdings  HSBA.L : Credit Suisse cuts price target to 580p from 780p 
    * Iberdrola  IBE.MC : RBC raises target to 4.80 euros from 4.40 euros; rating underperform 
    * ICAP PLC  IAP.L : Credit Suisse cuts price target to 395p from 415p; rating underperform 
    * IG Group Holdings PLC  IGG.L : Liberum raises price target to 650p from 590p ; rating hold 
    * IGD  IGD.MI : SocGen cuts to hold from buy rating 
    * IGD  IGD.MI : SocGen raises target price to 1.30 euros from 1.15 euros 
    * Imagination Technologies Group  IMG.L : UBS raises to buy from neutral 
    * Ipsen SA  IPN.PA : SocGen raises price target to 33 euros from 29.6 euros; rating hold 
    * IS Solutions  ISSL.L : Finncap raises price target to 75p 
    * Italcementi  ITAI.MI : Davy raises to neutral from underperform 
    * J Sainsbury  SBRY.L : Nomura cuts target price to 320p from 370p; rating neutral 
    * J Sainsbury  SBRY.L : HSBC cuts to underweight from neutral; cuts target to 295p from 360p 
    * Kuoni Reisen Holding  KUNN.S : Deutsche Bank raises target to Sfr 470 from Sfr 410; buy 
    * Kuoni Reisen Holding  KUNN.S : Natixis raises target to Sfr 430 from Sfr 400; neutral 
    * Lavendon Group PLC  LVD.L : Peel Hunt raises target price to 275p from 250p; rating buy 
    * Legrand SA  LEGD.PA : Natixis raises price target to 48 euros from 47 euros; rating buy 
    * Lenzing AG  LENV.VI : Berenberg cuts target price to 45 euros from 47 euros; rating hold 
    * Max Automation  MAXG.DE : ESN\Equinet Bank cuts target to 6.40 euros from 7 euros; buy 
    * MD Medical Group  MDMGq.L : JP Morgan cuts target price to $11 from $15.45; rating neutral 
    * Merck KGaA  MRCG.DE : Berenberg raises target to 125 euros from 115 euros; rating hold 
    * Michelin Sca  MICP.PA : Deutsche Bank raises target to 110 euros from 100 euros; buy 
    * Morphosys  MORG.DE : JP Morgan raises target to 77 euros from 68 euros; rating overweight 
    * Novartis AG  NOVN.VX : Jefferies cuts target price to Sfr 75; rating hold  
    * Novo Nordisk  NOVOb.CO : Jefferies raises target price to Dkk 260; rating hold 
    * Orascom Development Holding AG  ODHN.S : Naeem cuts to hold from buy 
    * OTP Bank  OTPB.BU : Credit Suisse cuts target to Huf 5400 from Huf 5500; rating outperform 
    * Persimmon PLC  PSN.L : UBS raises to buy from neutral; target to 1540p from 1400p 
    * Prudential  PRU.L : Credit Suisse raises target to 1,600p from 1,500p; rating outperform 
    * Rentokil Initial  RTO.L : HSBC raises target price to 118p from 116p; rating underweight 
    * Resolution Ltd  RSL.L : Canaccord Genuity cuts to hold from buy rating 
    * Richemont  CFR.VX : Exane BNP Paribas cuts to neutral from outperform rating 
    * Richemont  CFR.VX : Exane BNP Paribas cuts target price to Sfr 98 from Sfr 106 
    * Rieter Holding  RIEN.S : Kepler Cheuvreux raises target to Sfr 200 from Sfr 185; hold 
    * Rolls-Royce Holdings  RR.L : UBS raises to buy from sell; target price to 1160p from 900p 
    * Rolls-Royce Holdings  RR.L : Natixis price target to 1,000p from 1,050p; rating neutral 
    * Royal Dutch Shell  RDSa.L : RBC raises target to 2,600p from 2,520p; rating outperform 
    * Safran  SAF.PA : Goldman Sachs raises target price to 66 euros from 63 euros; rating buy 
    * Safran  SAF.PA : Natixis cuts price target to 50 euros from 53 euros; rating neutral 
    * Sainsbury PLC  SBRY.L : Natixis cuts target price to 370p from 447p; rating buy 
    * Saint Gobain  SGOB.PA : Natixis raises target price to 47 euros from 46 euros; rating buy 
    * Sanofi  SASY.PA : Jefferies cuts target price to 83 euros; rating buy 
    * Scor SE  SCOR.PA : Berenberg cuts target to 27.40 euros from 28.30 euros; rating hold 
    * Software AG  SOWG.DE : SocGen cuts target price to 37 euros; rating buy 
    * Speedy Hire PLC  SDY.L : RBC raises price target to 62p from 51p; rating sector perform 
    * Syngenta  SYNN.VX : Canaccord Genuity raises target price to Sfr 414; rating buy 
    * Swiss Prime Site  SPSN.VX : Vontobel raises target to Sfr 74 from Sfr 70; rating hold 
    * Thales SA  TCFP.PA : Natixis cuts target price to 54 euros from 55 euros; rating buy 
    * Thrombogenics  THR.BR : JP Morgan raises target to 21 euros from 20 euros; rating neutral 
    * Travis Perkins  TPK.L : RBC ups to outperform from top pick;ups target to 2015p from 1900p 
    * UCB  UCB.BR : SocGen raises target price to 67 euros from 55 euros; rating buy 
    * Voestalpine  VOES.VI : SocGen raises target to 41.6 euros from 39.5 euros; rating buy 
    * Voestalpine  VOES.VI : Citigroup raises target to 34.60 euros from 33.10 euros; neutral 
    * Wacker Chemie  WCHG.DE : Credit Suisse raises to neutral from underperform 
    * Wacker Chemie  WCHG.DE : Credit Suisse raises price target to 90 euros from 70 euros 
    * Wacker Chemie  WCHG.DE : ESN\Equinet Bank raises target to 71 euros from 58 euros; sell 
    * WM Morrison Supermarkets  MRW.L : Bernstein cuts target to 180p from 220p; market perform 
 
 (Compiled by Saqib Iqbal Ahmed and Archana Lakshmi Narasiah in Bangalore) 
 ((saqib.ahmed@thomsonreuters.com)(within U.S. +1 646 223 8780 outside U.S. +91 80 6749 
1130)(Reuters Messaging: saqib.ahmed.thomsonsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/