EUROPE RESEARCH ROUNDUP: Allianz, Munich Re, Lloyds, Siemens

Covivio Hotels SCA

20/06/2013 16:09

June 20 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Allianz, Munich Re and Lloyds, on Thursday.  
     
    HIGHLIGHTS 
    * Real Estate: SocGen raises Gecina  GFCP.PA , Affine  BTPP.PA  to buy  ID:nWNAB0228M  
    * Insurance: Berenberg raises Beazley  BEZG.L , Munich Re  MUVGn.DE  to buy  ID:nWNAB0228R  
    * Siemens  SIEGn.DE : Nomura raises to buy from neutral; target to 95 euros from 85 euros 
    * Lloyds Banking  LLOY.L : Exane BNP Paribas, Credit Suisse raise target price on stock 
    * Alcatel-Lucent  ALUA.PA : UBS, BofA Merrill raise rating; Exane cuts to underperform 
       
Following is a summary of research actions on European companies reported by Reuters on 
Thursday. Stock entries are in alphabetical order. 
     
    * Affine SA  BTPP.PA : SocGen raises to buy from hold  
    * Alcatel-Lucent  ALUA.PA : UBS ups to neutral from sell; ups target to 1.60 from 1.30 euros 
    * Alcatel-Lucent  ALUA.PA : Exane cuts to underperform; target by 33 percent to 0.40 euros 
    * Alcatel-Lucent  ALUA.PA : BofA Merrill raises to buy from underperform 
    * Alcatel-Lucent  ALUA.PA : BofA Merrill raises price objective to 2.61 from 0.75 euros 
    * Alcatel-Lucent  ALUA.PA : Natixis ups target to 1.9 euros from 1.5 euros; rating buy 
    * Allianz  ALVG.DE : Berenberg raises price target to 141 euros from 132 euros; rating buy  
    * Alstria Office REIT  AOXG.DE : SocGen up target to 12 euros from 10.5 euros; rating buy 
    * Ashtead Group  AHT.L : Jefferies raises price target to 750p from 690p; rating buy  
    * Atkins  ATKW.L : Liberum raises price target to 1100p from 1020p; rating buy 
    * Aviva  AV.L : Berenberg raises price target to 375p from 350p; rating hold  
    * Axa  AXAF.PA : Berenberg cuts price target to 17.4 euros from 17.5 euros; rating hold  
    * Baloise  BALN.VX : Berenberg raises price target to Sfr 108 from Sfr 107; rating buy 
    * Banco Bilbao Vizcaya Argentaria  BBVA.MC : Credit Suisse cuts target to 7.2 from 8.1 euros 
    * Banco de Sabadell  SABE.MC : UBS cuts target to 1.35 euros from 1.60 euros; rating sell  
    * Banco de Sabadell  SABE.MC : Credit Suisse cuts target to 1.45 from 1.60 euros 
    * Banco Popular Espanol  POP.MC : Credit Suisse cuts target to 3 from 3.2 euros 
    * Banco Santander  SAN.MC : Credit Suisse cuts target to 5.2 from 5.8 euros; rating neutral  
    * Beazley Plc  BEZG.L : Berenberg raises to buy from hold 
    * Beazley Plc  BEZG.L : Berenberg raises price target to 238p from 232p  
    * Befimmo  BEFB.BR : SocGen raises to buy from hold   
    * Beni Stabili  BNSI.MI : SocGen ups target price to 0.70 euros from 0.60 euros; rating buy  
    * Berkeley Group  BKGH.L : UBS raises price target to 2350p from 2250p; rating buy 
    * Berkeley Group  BKGH.L : Citigroup raises target price to 2215p from 2125p; rating neutral 
    * Big Yellow Group  BYG.L : UBS raises target price to 400p from 380p; rating neutral 
    * British Land  BLND.L : SocGen raises taregt price to 670p from 630p; rating buy  
    * Casino  CASP.PA : Exane cuts price target by 6 percent to 85 euros; rating outperform 
    * Catlin Group Ltd  CGL.L : Berenberg raises to buy from sell  
    * Caixabank  CABK.MC : Credit Suisse cuts target to 2.57 from 2.84 euros; rating neutral  
    * Cofinimmo SA  COFB.BR : SocGen raises to buy from hold  
    * Colruyt  COLR.BR : UBS raises to neutral from sell; ups target to 38 from 30.50 euros  
    * Colruyt  COLR.BR : UBS removes from least preferred list in European food retailers  
    * Compass Group  CPG.L : UBS raises price target to 900p from 790p; rating neutral 
    * Corio NV  COR.AS : SocGen raises target price to 47 euros from 41 euros; rating buy  
    * Darty  DRTY.L : UBS cuts price target to 65p from 70p; rating neutral 
    * Darty  DRTY.L : Barclays raises target price to 36p from 33p; rating underweight 
    * Delhaize  DELB.BR : UBS adds to least preferred list in European foodretailers 
    * Derwent London Plc  DLN.L : SocGen raises to buy from hold  
    * Deutsche Euroshop  DEQGn.DE : SocGen raises to buy from hold  
    * DIC Asset AG  DAZG.DE : SocGen ups target price to 10.9 euros from 8.7 euros; rating buy  
    * Direct Line  DLGD.L : Berenberg raises price target to 189p from 184p; rating sell  
    * Dixons Retail  DXNS.L : WH Ireland raises target price to 50p from 45p; rating buy 
    * Drax Group  DRX.L : Citigroup raises to buy from neutral; target price to 650p from 590p 
    * Edenred  EDEN.PA : UBS raises to neutral from sell 
    * Edenred  EDEN.PA : UBS raises price target to 24 euros from 20.5 euros 
    * Eni SpA  ENI.MI : SocGen cuts target price to 17.5 euros from from 19.3 euros; rating hold 
    * Eurocommercial Properties  SIPFc.AS : SocGen ups target to 39 from 34 euros; rating buy 
    * Federal Grid  FEES.MM : HSBC cuts target to 0.09 from 0.19 roubles; rating underweight 
    * Fonciere Des Murs  FERP.PA : SocGen raises to buy from sell  
    * Fonciere Des Regions  FDR.PA : SocGen ups target to 80 euros from 70 euros; rating buy  
    * Gecina SA  GFCP.PA : SocGen raises to buy from hold  
    * Genmab A/S  GEN.CO : Jefferies raises target price to Dkk 230 from Dkk 130; rating buy 
    * Go-Ahead Group Plc  GOG.L : Jefferies cuts target price to 1650p from 1725p; rating buy  
    * Gjensidige  GJFS.OL : Berenberg cuts price target to Nok 89.1 from Nok 89.2; rating hold  
    * Great Portland Estates  GPOR.L : SocGen raises to hold from sell  
    * Greencore  GNC.L : Davy Research raises to outperform from neutral 
    * GSW Immobilien AG  GIBG.DE : SocGen ups target price to 41 euros from 35 euros; rating buy 
    * Hammerson Plc  HMSO.L : SocGen raises target price to 670p from 610p; rating buy  
    * Havas SA  EURC.PA : Natixis raises target price to 6.2 euros from 5.7 euros; rating buy 
    * Heidelberger Druckmaschinen  HDDG.DE : S&P Capital raises to hold from sell 
    * Heidelberger Druckmaschinen  HDDG.DE : S&P Capital ups target to 2.4 euros from 1.4 euros 
    * Helvetia  HELN.S : Berenberg cuts target price to Sfr 460 from Sfr 470; rating buy  
    * Hennes & Mauritz  HMb.ST : SocGen ups to hold from sell; target to Sek 221 from Sek 205 
    * IGD  IGD.MI : SocGen raises target price to 1.50 euros from 1.20 euros; rating buy  
    * Imagination Technologies  IMG.L : Investec cuts target to 340p from 395p; rating hold 
    * Imagination Technologies  IMG.L : Credit Suisse ups target to 275p from 250p; underperform 
    * Immofinanz AG  IMFI.VI : SocGen raises to hold from sell 
    * Immunodiagnostic Systems  IDH.L : Finncap ups target price to 450p from 260p; rating hold  
    * Interbulk Group  INBL.L : WestHouse Securities cuts target to 9p from 10p; rating buy 
    * Intu Properties  INTUP.L : SocGen raises to hold from sell  
    * ITV  ITV.L : WestHouse Securities raises price target to 156p from 150p; rating add 
    * JCDecaux  JCDX.PA : Natixis cuts price target to 20.3 euros from 21 euros; rating neutral 
    * Klepierre SA  LOIM.PA : SocGen raises to buy from hold  
    * Kirkland Lake Gold  KGIq.L : Panmure cuts target price to 380p from 525p; rating buy 
    * Lamprell Plc  LAM.L : JP Morgan raises to neutral from underweight  
    * Land Securities  LAND.L : SocGen raises target price to 1000p from 900p; rating hold 
    * Legrand  LEGD.PA : Exane ups target by 13 percent to 43 euros; rating outperform 
    * Liontrust Asset  LIO.L : JP Morgan ups target price to 193p from 169p; rating underweight 
    * Lloyds Banking  LLOY.L : Exane ups target by 15 percent to 75P; rating outperform 
    * Lloyds Banking  LLOY.L : Credit Suisse raises target price to 58p from 48p; rating neutral 
    * LPP SA  LPPP.WA : JP Morgan starts with neutral rating  
    * Mapfre SA  MAP.MC : Berenberg cuts target to 2.86 euros from 3.29 euros; rating hold  
    * Mercialys SA  MERY.PA : SocGen raises to buy from hold 
    * Munich Re  MUVGn.DE : Berenberg raises to buy from hold    
    * Nordea Bank AB  NDA.ST : JP Morgan raises to overweight from neutral 
    * Phoenix  PHNX.L : Berenberg raises price target to 750p from 725p; rating buy  
    * Prudential Plc  PRU.L : Berenberg raises target price to 1420p from 1350p; rating buy 
    * Publicis Groupe  PUBP.PA : Natixis ups target to 50 euros from 47 euros; rating neutral 
    * Rautaruukki  RTRKS.HE : Carnegie raises to buy from hold  
    * Resolution  RSL.L : Berenberg raises price target to 285p from 270p; rating hold  
    * RSA Insurance  RSA.L : Berenberg cuts target price to 142p from 150p; rating buy  
    * Saipem  SPMI.MI : S&P Capital IQ cuts to hold from buy 
    * Saipem  SPMI.MI : S&P Capital IQ cuts price target to 18 euros from 30euros 
    * Sampo  SAMAS.HE : Berenberg cuts price target to 31.7 euros from 31.8 euros; rating hold  
    * Scor SE  SCOR.PA : Berenberg cuts to hold from buy  
    * Segro Plc  SGRO.L : SocGen raises target price to 340p from 300p; rating buy  
    * Siemens  SIEGn.DE : Nomura raises to buy from neutral 
    * Siemens  SIEGn.DE : Nomura raises target price to 95 euros from 85 euros 
    * Sodexo SA  EXHO.PA : UBS assumes coverage with buy rating; target price 75 euros 
    * St. James's Place  SJP.L : Berenberg raises price target to 600p from 550p; rating hold  
    * Standard Life  SL.L : Berenberg raises target price to 333p from 310p; rating sell 
    * Storebrand Asa  STB.OL : Berenberg cuts target price to Nok 40 from Nok 45; rating buy  
    * Swiss Life  SLHN.VX : Berenberg cuts price target to Sfr 170 from Sfr 190;rating hold 
    * Swiss RE AG  SRENH.VX : Berenberg raises to hold from sell  
    * Ted Baker  TED.L : Panmure raises price target to 1571p from 1411p; rating hold 
    * Ted Baker  TED.L : Espirito Santo Investment Bank raises to buy from neutral 
    * Ted Baker  TED.L : Espirito Santo Investment Bank raises price target to 1650p from 1150p 
    * Talanx AG  TLXGN.DE : Berenberg cuts to hold from buy  
    * Telecom Italia  TLIT.MI : Citigroup cuts target to 0.55 from 0.75 euros; rating neutral 
    * Tryg  TRYG.CO : Berenberg raises price target to Dkk 482 from Dkk 437;rating hold 
    * Unibail-Rodamco SE  UNBP.AS : SocGen raises to buy from hold  
    * Wereldhave NV  WEHA.AS : SocGen raises to buy from hold  
    * Whitbread  WTB.L : Jefferies raises target price to 2700p from 2300p; rating hold 
    * Whitbread  WTB.L : JP Morgan raises target price to 3300p from 3100p; rating overweight 
    * Zurich Insurance Group AG  ZURN.VX : Berenberg raises to buy from hold 
 
 (Compiled by Rachel Chitra in Bangalore) 
 ((rachel.chitra@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. +91 80 6749 
6149)(Reuters Messaging: rachel.chitra.reuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/