Europe Research Roundup: Philips, Red Electrica, British Land, Aixtron

Covivio Hotels SCA

26/09/2014 15:10

Sept 26 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Air France, Unibail-Rodamco and Telenet Group, on Friday.  
     
     
    HIGHLIGHTS 
    * Real Estate: SocGen upgrades British Land  BLND.L , others  ID:nWNAB04SME  
    * Philips  PHG.AS : Morgan Stanley raises to overweight from equal-weight 
    * Aixtron  AIXGn.DE : Morgan Stanley, ESN/Equinet Bank upgrade the stock 
    * Red Electrica  REE.MC : Deutsche Bank raises to buy  ID:nWNAB04SOC  
    * Air France KLM  AIRF.PA : Jefferies, ESN/CM-CIC Securities downgrade the stock 
    * Telenet Group  TNET.BR : Raymond James raises to strong buy from outperform        
     
           
Following is a summary of research actions on European companies reported by Reuters on Friday. 
Stock entries are in alphabetical order.   
     
    * 3I Infrastructure Plc  3IN.L : Oriel Securities raises to hold from reduce rating 
    * AB Inbev  ABI.BR : Credit Suisse raises target to 95 euros from 90 euros; outperform 
    * Affine  BTPP.PA : SocGen cuts target price to 15 euros from 16 euros; rating hold 
    * Air France KLM  AIRF.PA : Jefferies cuts to underperform from hold; target to 6.70 euros 
    * Air France KLM  AIRF.PA : ESN/CM-CIC Securities cuts to accumulate from buy 
    * Air France KLM  AIRF.PA : ESN/CM-CIC Securities cuts target to 8.80 euros from 9.80 euros 
    * Aixtron  AIXGn.DE : ESN/Equinet Bank raises to buy from sell 
    * Aixtron  AIXGn.DE : Morgan Stanley raises to overweight from equal-weight 
    * Aixtron  AIXGn.DE : Morgan Stanley raises price target to 14.40 euros 
    * Alstria Office  AOXG.DE : SocGen raises target to 12 euros from 11.2 euros; rating buy 
    * Altarea Cogedim  IMAF.PA : SocGen raises to buy from hold 
    * Altarea Cogedim  IMAF.PA : SocGen raises target price to 158 euros from 149 euros 
    * Altice SA  ATCE.AS : Citigroup starts with sell rating; price target 34 euros 
    * Amplifon SpA  AMPF.MI : HSBC starts with overweight; price target 5.7 euros 
    * Anadolu  AEFES.IS : Barclays cuts to underweight from equalweight;ups target to Tl 27.10 
    * Arrow Global Group Plc  ARWA.L : Shore Captial raises fair value to 320p; rating buy 
    * Balfour Beatty  BALF.L : Deutsche Bank raises to buy from hold; target to 270p from 245p 
    * Bang & Olufsen  BO.CO : ALM Brand Markets cuts target to Dkk 65 from Dkk 70; neutral 
    * Bankinter  BKT.MC : Morgan Stanley cuts to underweight from equal-weight 
    * Befimmo  BEFB.BR : SocGen raises target price to 62 euros from 59 euros; rating hold 
    * Betfair Group  BETF.L : Barclays raises price target to 1290p from 1245p;rating overweight 
    * BIM  BIMAS.IS : Barclays cuts to equal weight from overweight; raises target to Tl 52.80 
    * British Land  BLND.L : SocGen raises to buy from hold; target price to 780p from 740p 
    * Buwog AG  BWOA.VI : Berenberg starts with buy; price target 17.50 euros 
    * CCC  CCCP.WA : UBS starts with buy rating 
    * CGG Veritas  GEPH.PA : Citigroup cuts target price to 6 euros from 10.50 euros; sell 
    * CGG Veritas  GEPH.PA : Exane BNP Paribas cuts target to 8 euros from 8.5 euros; neutral 
    * Circle Holdings  CIRC.L : Numis cuts target price to 79p from 95p; rating buy 
    * Cofinimmo SA  COFB.BR : SocGen raises target price to 104 euros from 101 euros; rating buy 
    * Corio NV  COR.AS : SocGen raises target price to 48 euros from 44 euros; rating buy 
    * Dairy Crest  DCG.L : Investec cuts target price to 400p from 434p; rating hold 
    * Danieli  DANI.MI : ESN/Banca Akros cuts to hold from accumulate 
    * Danieli  DANI.MI : ESN/Banca Akros cuts target price to 22.90 euros from 28.60 euros 
    * De La Rue  DLAR.L : Numis cuts to hold from add 
    * De La Rue  DLAR.L : Investec cuts to hold from buy rating; target price to 600p from 915p 
    * De La Rue  DLAR.L : Panmure cuts to sell from hold; target price to 535p from 806p 
    * Derwent London Plc  DLN.L : SocGen raises target price to 3170p from 3010p; rating buy 
    * Deutsche Annington  ANNGn.DE : SocGen raises target to 32 euros from 28 euros; rating buy 
    * Deutsche Euroshop  DEQGn.DE : SocGen raises target to 46 euros from 42 euros; rating buy 
    * DIC Asset  DICn.DE : SocGen raises target price to 9.9 euros from 9.7 euros; rating buy 
    * Direct Line  DLGD.L : Exane BNP Paribas raises target by 2 percent to 251p; underperform 
    * Direct Line  DLGD.L : Numis raises target price by 5p to 310p; rating hold 
    * Direct Line  DLGD.L : Canaccord Genuity cuts target price to 282p from 305p; rating buy 
    * Direct Line  DLGD.L : Credit Suisse raises target price to 310p from 305p; rating neutral 
    * Drillisch  DRIG.DE : Commerzbank resumes with reduce rating 
    * Enagas SA  ENAG.MC : Deutsche Bank cuts to hold 
    * Enervit  ENVT.MI : ESN/Banca Akros raises price target to 4.30 euros from 4 euros; hold 
    * Eurocommercial  SIPFc.AS : SocGen raises to buy from hold 
    * Eurocommercial  SIPFc.AS : SocGen raises target price to 41 euros from 38 euros 
    * Fonciere Des Murs  FERP.PA : SocGen raises target to 20 euros from 19 euros; rating sell 
    * Fonciere Lyonnaise  FLYP.PA : SocGen raises to buy from hold 
    * Fonciere Lyonnaise  FLYP.PA : SocGen raises target price to 43 euros from 40 euros 
    * Gecina  GFCP.PA : SocGen raises to buy from hold; target price to 123 euros from 108 euros 
    * Givaudan  GIVN.VX : Berenberg raises price target to Sfr 1450 from Sfr 1350; rating hold 
    * GN Store Nord A/S  GN.CO : HSBC starts with overweight; price target Dkk 160 
    * Great Portland Estates  GPOR.L : SocGen raises to hold from sell 
    * Great Portland Estates  GPOR.L : SocGen raises target price to 670p from 620p 
    * H & M  HMb.ST : Raymond James raises price target to Sek 278 from Sek 249; underperform 
    * H & M  HMb.ST : ISI Group cuts to cautious from neutral 
    * H & M  HMb.ST : Barclays cuts price target to Sek 320 from Sek 325; rating overweight 
    * H & M  HMb.ST : SocGen cuts to hold from buy 
    * H & M  HMb.ST : SocGen cuts target price to Sek 315 from Sek 357 
    * Hammerson PLC  HMSO.L : SocGen raises target price to 710p; rating buy 
    * Hammerson Plc  HMSO.L : SocGen raises target price to 700p from 680p; rating buy 
    * Hennes & Mauritz  HMb.ST : Citigroup cuts target price to Sek 340 from Sek 350; rating buy 
    * Hennes & Mauritz  HMb.ST : Danske Bank cuts to sell rating 
    * Hikma Pharmaceuticals  HIK.L : Shore cuts to hold from buy 
    * Icade  ICAD.PA : SocGen raises to buy from hold; target price to 81 euros from 75 euros 
    * IGD  IGD.MI : SocGen raises to buy from hold; target price to 1.20 euro from 1.15 euro 
    * Immofinanz  IMFI.VI : SocGen raises to buy from hold 
    * Immofinanz  IMFI.VI : SocGen raises target price to 2.95 euros from 2.80 euros 
    * Immofinanz  IMFI.VI : Wood and Company cuts to hold from buy rating; target to 2.60 euros 
    * Intu Properties  INTUP.L : SocGen cuts to sell from hold 
    * Intu Properties  INTUP.L : SocGen raises target price to 320p from 310p 
    * J Sainsbury  SBRY.L : Barclays cuts price target to 300p from 365p; rating overweight 
    * Kering SA  PRTP.PA : Credit Suisse raises to outperform from neutral 
    * Kering SA  PRTP.PA : Credit Suisse raises target price to 180 euros from 156 euros 
    * Klepierre  LOIM.PA : Socgen raises to buy from hold 
    * Klepierre  LOIM.PA : Socgen raises target price to 42 euros from 39 euros 
    * Land Securities  LAND.L : SocGen raises target price to 1170p from 1080p; rating hold 
    * LEG Immobilien  LEGn.DE : SocGen raises target price to 66 euros from 60 euros; rating buy 
    * LPP  LPPP.WA : UBS starts with buy rating 
    * Marks and Spencer Group  MKS.L : Nomura cuts price target to 500p from 560p; rating buy 
    * Mercialys SA  MERY.PA : SocGen raises target price to 22 euros from 20 euros; rating buy 
    * Migros Ticaret  MGROS.IS : Barclays ups to overweight from underweight;target to Tl 21.80 
    * NN Group  NN.AS : KBC starts with buy rating; target price 27 euros 
    * Nyrstar  NYR.BR : ING cuts target price to 2.55 euros from 3 euros; rating hold 
    * Odfjell  ODF.OL : Goldman Sachs cuts to sell from neutral; target to Nok 23 from Nok 30.6 
    * Oerlikon  OERL.S : UBS cuts target price to Sfr 16 from Sfr 16.50; rating buy 
    * Pernod Ricard  PERP.PA : Credit Suisse ups target to 85 euros from 82 euros; underperform 
    * PGS  PGS.OL : Citigroup cuts target price to Nok 40 from Nok 75; rating neutral 
    * Philips  PHG.AS : Morgan Stanley raises to overweight from equal-weight 
    * Philips  PHG.AS : Morgan Stanley raises target price to 32.40 euros from 25 euros 
    * Portugal Telecom  PTC.LS : Jefferies cuts target price to 1.63 euros from 3.30 euros; hold 
    * Prima Industrie PRII.MI : ESN/Banca Akros ups target to 17.70 euros from 15.40 euros 
    * Provident Financial  PFG.L : Peel Hunt raises target price to 2220p from 2030p; hold 
    * Red Electrica  REE.MC : Deutsche Bank raises to buy 
    * SAF Holland  SFQN.DE : Commerzbank cuts price target to 13 euros from 15 euros; rating buy 
    * Seadrill  SDRL.OL : Goldman Sachs cuts to sell from neutral 
    * Seadrill  SDRL.OL : Goldman Sachs cuts price target to Nok 155 from Nok 232 
    * Segro Plc  SGRO.L : SocGen raises target price to 380p from 350p; rating hold 
    * Shanks  SKS.L : Investec cuts target price to 105p from 110p; rating hold 
    * Shanks  SKS.L : Peel Hunt cuts target price to 112p from 119p; rating buy 
    * Societe Generale  SOGN.PA : Macquarie raises to outperform from neutral 
    * Societe Generale  SOGN.PA : Macquarie raises price target to 48 euros from 39 euros 
    * TDC  TDC.CO : Nomura cuts to neutral from buy rating; target price to Dkk 50 from Dkk 52 
    * Telecom Italia  TLIT.MI : Jefferies raises target price to 0.92 euro from 0.89 euro; hold 
    * Telefonica Deutschland  O2Dn.DE : Citigroup raises to buy from neutral 
    * Telefonica Deutschland  O2Dn.DE : Nomura cuts target to 4.50 euros from 5.13 euros;neutral 
    * Telenet Group  TNET.BR : Raymond James raises to strong buy from outperform 
    * Telenet Group  TNET.BR : Raymond James raises target price to 50 euros from 47 euros 
    * Ulker  ULKER.IS : Barclays starts coverage with overweight rating; price target Tl 19.1 
    * Unibail-Rodamco  UNBP.AS : SocGen raises target to 252 euros form 229 euros; rating buy 
    * Vallourec SA  VLLP.PA : JP Morgan raises to neutral from underweight 
    * Vallourec SA  VLLP.PA : JP Morgan raises target price to 36 euros from 32 euros 
    * Wereldhave  WEHA.AS : SocGen raises target price to 70 euros from 64 euros; rating hold 
    * Wolseley Plc  WOS.L : RBC raises target price to 3300p from 3200p; rating sector perform 
    * Zurich Insurance Group  ZURN.VX : Barclays raises price target to Sfr 287 from Sfr 276   
 
 (Compiled by Rachel Chitra and Fareha Khan in Bangalore) 
 ((rachel.chitra@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 67496149; 
Reuters Messaging: rachel.chitra.reuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/