EUROPE RESEARCH ROUNDUP: AP Moeller, BHP Billiton, BNP Paribas

Calida Holding AG

21/01/2014 15:53

Jan 21 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including BHP Billiton and Alstom, on Tuesday.  
     
    HIGHLIGHTS 
    * AP Moeller Maersk  MAERSKb.CO : Nomura raises target to Dkk 73000 from Dkk 56000; buy 
    * BHP Billiton  BLT.L : Goldman Sachs, UBS cut target price on the stock   
    * BNP Paribas  BNPP.PA : JP Morgan raises to overweight from neutral; target to 66 euros 
    * Swedbank  SWEDa.ST : HSBC cuts to underweight from neutral; cuts target to Sek 181 
    * Alstom  ALSO.PA : S&P Capital IQ, SocGen downgrade the stock  
       
Following is a summary of research actions on European companies reported by Reuters on Tuesday. 
Stock entries are in alphabetical order.  
     
    * Abertis  ABE.MC : Nomura cuts to neutral from buy; raises target to 16 euros  
    * Accor  ACCP.PA : Deutsche Bank raises target to 35.5 euros from 27.5 euros; hold 
    * Adidas  ADSGn.DE : S&P Capital IQ raises target to 105 euros from 98 euros; buy 
    * Admiral  ADML.L : HSBC raises target to 1580p from 1550p; overweight  
    * Aegon  AEGN.AS : HSBC cuts to neutral from overweight 
    * Aeroports De Paris  ADP.PA : Nomura cuts to reduce; raises target to 77 euros  
    * Ageas  AGES.BR : HSBC raises target to 39 euros from 38 euros; overweight  
    * Air Berlin  AB1.DE : Nomura raises target to 1.43 euros from 1.18 euros; reduce  
    * Air France  AIRF.PA : Cantor raises target to 12 euros from 10 euros; buy 
    * Air France  AIRF.PA : Nomura raises target to 9.08 euros from 8.25 euros; neutral  
    * Air Liquide  AIRP.PA : Berenberg raises target to 105 euros from 98 euros; hold 
    * Alstom  ALSO.PA : S&P Capital IQ cuts target to 23 euros from 30 euros 
    * Alstom  ALSO.PA : S&P Capital IQ cuts to sell from hold  
    * Alstom  ALSO.PA : Socgen cuts target to 26 euros from 32 euros  
    * Alstom  ALSO.PA : Socgen cuts to hold from buy  
    * Amlin  AML.L : HSBC cuts target to 415p from 430p; underweight  
    * Anglo American  AAL.L : Goldman Sachs cuts target to 1100p from 1140p; rating sell  
    * Antofagasta  ANTO.L : Goldman Sachs raises target to 800p from 775p; rating neutral 
    * AP Moeller Maersk  MAERSKb.CO : Nomura raises target to Dkk 73000 from Dkk 56000; buy  
    * Atlantia  ATL.MI : Nomura raises to buy; raises target to 19 euros from 14.20 euros 
    * Atresmedia  A3M.MC : Liberum raises to buy from hold 
    * Aviva  AV.L : HSBC raises target to 500p from 480p; neutral  
    * Axa  AXAF.PA : HSBC raises target to 24.5 euros from 22.8 euros; overweight  
    * Baloise  BALN.VX : HSBC raises target to Sfr 120 from Sfr 110; neutral  
    * Befimmo  BEFB.BR : HSBC raises target to 57 euros from 55 euros; rating neutral  
    * BG Group  BG.L : Credit Suisse raises target to 1200p from 1170p; underperform 
    * BHP Billiton  BLT.L : Goldman Sachs cuts target to 1800p from 1850p; rating neutral  
    * BHP Billiton  BLT.L : UBS cuts target to 2060p from 2090p; buy 
    * BNP Paribas  BNPP.PA : JP Morgan raises to overweight from neutral; target to 66 euros  
    * Boliden  BOL.ST : Goldman Sachs raises target to Sek 116 from Sek 114; rating buy  
    * Bpost  BPOST.BR : Nomura cuts to neutral from buy; cuts target to 15 euros from 17 euros 
    * British Land  BLND.L : HSBC starts with with overweight  
    * BW LPG  BWLPG.OL : Deutsche Bank starts with hold; target Nok 72 
    * Calida Holding  CALN.S : Vontobel raises target price to Sfr 40 from Sfr 35; buy 
    * Capital & Counties  CAPCC.L : HSBC starts with neutral rating 
    * Catlin  CGL.L : HSBC raises target to 650p from 618p; overweight  
    * CNP  CNPP.PA : HSBC cuts to neutral from overweight 
    * Cofinimmo  COFB.BR : HSBC cuts target to 97 euros from 99 euros; rating neutral 
    * Compass Group  CPG.L : Morgan Stanley ups target to 970p from 920p; rating equal weight  
    * Danske Bank  DANSKE.CO : Barclays raises target to Dkk 126 from Dkk 117; underweight  
    * Danske Bank  DANSKE.CO : Credit Suisse raises target to Dkk 113; underperform 
    * Danske Bank  DANSKE.CO : HSBC raises target to Dkk 134 from Dkk 130; neutral 
    * Delta Lloyd  DLL.AS : HSBC raises target to 19 euros from 18.5 euros; neutral  
    * Derwent London  DLN.L : HSBC starts with with overweight  
    * Deutsche Post  DPWGn.DE : Nomura raises target to 30 euros from 27 euros; buy  
    * Diageo PLC  DGE.L : UBS cuts target to 2000p from 2050p; neutral 
    * DNB  DNB.OL : Barclays raises target to Nok 132 from Nok 119; overweight  
    * DNB  DNB.OL : HSBC cuts to neutral from overweight; cuts target to Nok 120 from Nok 133  
    * DP World  DPWL.L : Nomura raises target to 1165p from 1070p; buy  
    * DSM  DSMN.AS : UBS adds to least preferred list  
    * DSV A/S  DSV.CO : Morgan Stanley ups target to Dkk 172 from Dkk 140; rating equalweight 
    * EMS Chemie Holding  EMSN.S : UBS adds to most preferred list  
    * Ericsson  ERICb.ST : Danske Bank cuts target to Sek 40 from Sek 70; sell 
    * Esure  ESUR.L : HSBC raises target to 318p from 300p; overweight  
    * Euler Hermes  ELER.PA : HSBC raises target to 85.8 euros from 85euros; underweight 
    * Faurecia  EPED.PA : Citigroup raises target to 30 euros from 25 euros; neutral 
    * Fedex Corp  FDX.N : Nomura raises target to $145 from $135; rating neutral  
    * First Quantum Minerals  FQM.L : Goldman Sachs cuts target to 1300p from 1430p; rating buy  
    * Firstgroup  FGP.L : Nomura raises target to 140p from 130p; buy 
    * Fraport  FRAG.DE : Nomura raises target to 57 euros from 52 euros; neutral  
    * Genel Energy  GENL.L : Liberum cuts to hold from buy 
    * Generali  GASI.MI : HSBC raises target to 21 euros from 20.5 euros; overweight  
    * Givaudan  GIVN.VX : UBS adds to most preferred list  
    * Glencore Xstrata  GLEN.L : Goldman Sachs cuts target to 320p from 345p; rating neutral  
    * Go-Ahead  GOG.L : Nomura cuts to neutral from buy; raises target price to 1918p  
    * Great Portland Estates  GPOR.L : HSBC starts with with overweight  
    * Greencore Group  GNC.L : Jefferies starts with buy; target 275p 
    * Groupe Eurotunnel  GETP.PA : Nomura raises target to 10 euros from 8 euros; buy  
    * Hammerson  HMSO.L : HSBC starts with with overweight rating 
    * Handelsbanken  SHBa.ST : HSBC cuts target to Sek 275 from Sek 286; underweight 
    * Hannover Re  HNRGN.F : HSBC raises target to 73.6 euros from 72 euros; overweight  
    * Hargreaves Lansdown  HRGV.L : JP Morgan raises target to 1656p from 1415p; overweight  
    * HHLA  HHFGn.DE : Nomura raises target to 18 euros from 16 euros; rating reduce  
    * Hiscox  HSX.L : HSBC raises target to 581p from 571p; underweight  
    * ING  ING.AS : HSBC cuts to underweight from neutral  
    * International Consolidated Airlines  ICAG.L : Nomura raises target to 474p; buy  
    * Intu Properties  INTUP.L : HSBC startswith with overweight rating 
    * K&S  SDFGn.DE : Macquarie raises target to 30 euros from 24 euros; outperform 
    * Kazakhmys  KAZ.L : Goldman Sachs cuts target to 145p from 155p; rating sell  
    * Koc Holding  KCHOL.IS : JP Morgan cuts target to Tl 10.20 from Tl 11.20; neutral  
    * Kuehne & Nagel  KNIN.VX : Morgan Stanley ups target to Sfr 113 from Sfr 95 
    * Kuehne & Nagel  KNIN.VX : Morgan Stanley ups to equal weight from underweight 
    * Kuehne & Nagel  KNIN.VX : Nomura raises target to Sfr 110 from Sfr 105; rating neutral 
    * Kumba Iron Ore  KIOJ.J : Goldman Sachs raises target to 240 rand from 230 rand; sell 
    * Ladbrokes  LAD.L : JP Morgan cuts price target to 95p from 140p; underweight  
    * Lancashire  LRE.L : HSBC raises price target to 954p from 950p; overweight  
    * Land Securities  LAND.L : HSBC starts with neutral  
    * Lanxess  LXSG.DE  : UBS adds to most preferred list  
    * Legal & General  LGEN.L : HSBC cuts to neutral from overweight 
    * Linde AG  LING.DE : Berenberg raises target to 180 euros from 175 euros; buy 
    * Londonmetric  LMPL.L : HSBC starts with neutral rating 
    * Lufthansa  LHAG.DE : Nomura raises target to 23 euros from 18.60 euros; buy  
    * Lundin Mining  LUN.TO : Goldman Sachs cuts target to C$5.80 from C$6; rating buy 
    * Luxottica  LUX.MI : JP Morgan raises target to 41 euros from 40 euros; neutral 
    * M.Video  MVID.MM : HSBC cuts to neutral from overweight; cuts target to 300 roubles  
    * Mechel  MTL.N : JP Morgan cuts to underweight from neutral; cuts target to $1.40 
    * Mediaset Espana  TL5.MC : Liberum raises to buy from hold  
    * Moncler  MONC.MI : Exane BNP Paribas starts with underperform ; target 12.7 euros 
    * Moncler  MONC.MI : Goldman Sachs starts with neutral; target 15 euros 
    * Moncler SpA  MONC.MI : HSBC starts with underweight; price target 13 euros 
    * Moncler SpA  MONC.MI : JP Morgan starts with neutral; target 13.50 euros 
    * Moncler SpA  MONC.MI : UBS starts with sell; target 12.10 euros 
    * Munich Re  MUVGn.DE : HSBC raises target to 189 euros from 185 euros; overweight  
    * National Express  NEX.L : Nomura raises target to 285p from 206p; rating neutral  
    * Nordea  Bank  NDA.ST : HSBC cuts to neutral from overweight; cuts target to Sek 95  
    * Nordea Bank  NDA.ST : Barclays raises target to Sek 102 from Sek 94; overweight 
    * Nordea Bank  NDA.ST : Credit Suisse cuts to neutral; cuts target to 10.3 euros  
    * Norsk Hydro  NHY.OL : Goldman Sachs raises to buy 
    * Novartis  NOVN.VX : Berenberg cuts target to Sfr 80 from Sfr 81; buy 
    * Novo Nordisk  NOVOb.CO : Berenberg cuts target to Dkk 209 from Dkk 211; hold 
    * Novozymes  NZYMb.CO : UBS drops from least preferred list 
    * OPG Power Ventures  OPG.L : Investec starts with buy rating; target of 120p 
    * Optos  OPTS.L : Jefferies raises target to 230p from 220p; rating buy 
    * Paddy Power  PAP.I : JP Morgan raises target to 63 euros from 59 euros; neutral  
    * Panalpina  PWTN.S : Nomura raises to neutral; raises price target to Sfr 150 from Sfr 120  
    * Panalpina Welttransport  PWTN.S : Morgan Stanley raises target to Sfr 185; overweight 
    * Patrizia Immobilien  P1ZGn.DE : Commerzbank starts with buy; target 10 euros 
    * Pegasus  PGSUS.IS : Morgan Stanley cuts target price to Tl 42 from Tl 47; overweight  
    * Plant Health Care  PHC.L : Liberum starts with buy; target 75p 
    * Porr AG  ABGV.VI : Berenberg starts with buy; target 48 euros 
    * PostNL  PTNL.AS : Nomura raises to neutral from reduce; raises target to 4.30 euros  
    * Promethean World  PRWP.L : Investec raises target to 30p from 25p; rating buy 
    * Prudential  PRU.L : HSBC raises target to 1625p from 1570p; overweight  
    * Raiffeisen Bank International  RBIV.VI : Citigroup raises target to 27.14 euros; sell 
    * Remy Cointreau  RCOP.PA : Berenberg cuts target to 67.50 euros from 72 euros; hold 
    * Remy Cointreau  RCOP.PA : UBS cuts target to 61 euros from 70 euros; neutral 
    * Restaurant Group  RTN.L : Jefferies cuts to hold from buy  
    * Restaurant Group  RTN.L : Jefferies raises target price to 685p from 575p 
    * Rio Tinto  RIO.L : Goldman Sachs raises target to 2450p from 2350p; rating sell  
    * RSA Insurance Group PLC  RSA.L : HSBC cuts to underweight from neutral  
    * Ryanair  RYA.I : Nomura raises target to 7.90 euros from 5.90 euros; buy 
    * Sabanci Holding  SAHOL.IS : JP Morgan cuts target to Tl 10.80 from Tl 11.45; overweight 
    * SAP  SAPG.DE : Jefferies maintains target at 66 euros; rating hold 
    * SAS  SAS.ST : Nomura raises target to Sek 18.10 from Sek 7.48; reduce 
    * Schneider Electric  SCHN.PA : Deutsche Bank resumes with buy; target 70 euros 
    * SDL  SDL.L : Investec raises target to 420p from 360p; rating buy 
    * SEB  SEBa.ST : Credit Suisse raises to outperform from neutral; raises target to Sek 101 
    * SEB  SEBa.ST : HSBC raises target to Sek 86 from Sek 84; neutral  
    * Segro  SGRO.L : HSBC starts with with overweight rating 
    * SGS  SGSN.VX : Barclays cuts target to Sfr 2340 from Sfr 2450; equal weight 
    * Shaftesbury  SHB.L : HSBC starts with neutral rating 
    * Sinclair IS Pharma  SPH.L : Jefferies raises target price to 50p from 48p; rating buy 
    * Skandinaviska Enskilda Banken  SEBa.ST : Barclays raises target to Sek 103; overweight  
    * Smith & Nephew  SN.L : Goldman Sachs cuts to sell rating 
    * Societe Generale  SOGN.PA : Citigroup raises target to 50 euros from 46 euros; buy 
    * Sodexo  EXHO.PA : Morgan Stanley raises target to 76 euros from 73 euros; equal weight 
    * Spirent Communications  SPT.L : Citigroup cuts target to 110p from 135p; buy 
    * Stagecoach  SGC.L : Nomura raises target to 390p from 340p; rating buy 
    * Standard Life  SL.L : HSBC raises target to 340p from 335p; underweight  
    * Svenska Handelsbanken  SHBa.ST : Barclays raises target to Sek 323; equal weight  
    * Svenska Handelsbanken  SHBa.ST : Credit Suisse raises target to Sek 277; underperform  
    * Swedbank  SWEDa.ST : Barclays raises target to Sek 184 from Sek 176; equal weight  
    * Swedbank  SWEDa.ST : Credit Suisse cuts to underperform; cuts target to Sek 157  
    * Swedbank  SWEDa.ST : HSBC cuts to underweight from neutral; cuts target to Sek 181 
    * Swiss Life  SLHN.VX : HSBC cuts target to Sfr 198 from Sfr 200; neutral  
    * Swiss Re  SRENH.VX : HSBC raises target to Sfr 84 from Sfr 82.5; neutral  
    * Symrise  SY1G.DE : UBS raises to neutral from sell; raises target to 34.50 euros  
    * Talanx  TLXGn.DE : Commerzbank starts with hold; target 25 euros 
    * Talanx  TLXGn.F : HSBC raises target to 28 euros from 27.5 euros; neutral  
    * TAV  TAVHL.IS : Morgan Stanley raises target price to Tl 16.2 from Tl 14.8; equal weight 
    * TNT Express  TNTE.AS : Nomura cuts to reduce from neutral; raises target to 6 euros  
    * Tupras  TUPRS.IS : JP Morgan cuts target to Tl 51.60 from Tl 53.30; overweight 
    * Turkish Airlines  THYAO.IS : Morgan Stanley raises to overweight from equal weight  
    * Ubisense Group  UBIS.L : Canaccord Genuity raises target to 280p from 260p; rating buy 
    * Unilever  ULVR.L : S&P Capital IQ raises target to 2,800p from 2,730p; rating buy 
    * Unilever  UNc.AS : Canaccord Genuity cuts target to 30 euros from 31 euros; hold 
    * Unilever  UNc.AS : S&P Capital raises target to 34 euros from 32 euros; rating buy 
    * Uralkali  URKAq.L : Barclays raises target to $21.30 from $18.90; underweight 
    * Vedanta Resources  VED.L : Goldman Sachs cuts target to 1050p from 1200p; rating buy  
    * Vienna Airport  VIEV.VI : Nomura raises target to 62 euros from 54 euros; neutral  
    * Vienna Insurance  VIGR.VI : HSBC cuts target to 41 euros from 42 euros; neutral  
    * VZ Holding  VZN.S : Helvea Baader Bank cuts target to Sfr 178 from Sfr 193; buy 
    * VZ Holding  VZN.S : Vontobel cuts target to Sfr 144 from Sfr 147; hold 
    * Wacker Chemie  WCHG.DE : UBS raises target to 103 euros from 95 euros; buy 
    * William Hill  WMH.L : JP Morgan cuts target to 340p from 360p; underweight  
    * Wincor Nixdorf  WING.DE : Berenberg raises to hold from sell 
    * Wincor Nixdorf  WING.DE : Deutsche Bank raises target to 60 euros from 54 euros; buy 
    * Wincor Nixdorf  WING.DE : Wedbush ups target to 56 euros from 50 euros; rating neutral 
    * Zurich Airport  FHZN.S : Nomura raises target to Sfr 500 from Ssfr 440; reduce  
    * Zurich Insurance  ZURN.VX : HSBC cuts target to Sfr 276 from Sfr 280; neutral 
 
    
 
 (Compiled by Ram Kumar Ramaswamy in Bangalore) 
 ((Compiled by Ram Kumar in Bangalore)(ramkumar.ramaswamy@thomsonreuters.com)(within U.S. +1 646 
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messaging:ramkumar.ramaswamy.thomsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/