Europe Research Roundup: Aperam, Commerzbank, Lloyds Banking Group, Bellway PLC

Financiere de Tubize SA

24/03/2014 15:08

March 24 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Commerzbank and Rational, on Monday.  
     
    HIGHLIGHTS 
    * Commerzbank  CBKG.DE : Morgan Stanley raises to overweight from equal-weight   
    * Lloyds Banking Group PLC  LLOY.L : Investec raises to buy from hold  
    * Bellway PLC  BWY.L : Davy Research raises to outperform from neutral 
    * Valora Holding  VALN.S : Berenberg ups to buy from hold; target to Sfr 290 from Sfr 199 
    * Lindt & Spruengli  LISN.S : Credit Suisse ups target to Sfr 49,000 from Sfr 46,000 
       
Following is a summary of research actions on European companies reported by Reuters on Monday. 
Stock entries are in alphabetical order.  
     
    * Acerinox  ACX.MC : Credit Suisse cuts to underperform from neutral rating  
    * Acerinox  ACX.MC : Credit Suisse cuts target price to 7.30 euros from 7.76 euros  
    * Adler Modemaerkte  ADDG.DE : ESN/Equinet Bank ups target to 12.70 eur from 11.60 eur; buy 
    * Aggreko  AGGK.L : HSBC cuts target price to 1550p from 1650p; rating neutral 
    * Air France KLM  AIRF.PA : Morgan Stanley raises target to 12.50 from 7.50 euros 
    * Aperam  APAM.AS : Credit Suisse cuts to neutral from outperform  
    * Aperam  APAM.AS : Credit Suisse raises target price to 21 euros from 16 euros 
    * Aviva  AV.L : Credit Suisse raises target price to 565p from 502p; rating outperform 
    * Bachem Holding  BANB.S : Vontobel raises price target to Sfr 53 from Sfr 49; rating hold 
    * Barratt Developments PLC  BDEV.L : Davy Research cuts to neutral from outperform 
    * Bellway PLC  BWY.L : Davy Research raises to outperform from neutral 
    * BMW  BMWG.DE : Deutsche Bank ups to buy from hold; ups target to 103 euros from 71 euros 
    * BMW  BMWG.DE : JP Morgan raises target price to 90 euros from 85 euros; rating neutral 
    * Bovis Homes Group PLC  BVS.L : Numis raises to add from hold 
    * Bovis Homes Group PLC  BVS.L : Jefferies raises target to 1183p from 1168p; rating buy 
    * British American Tobacco PLC  BATS.L : Credit Suisse cuts to neutral from outperform  
    * Cairn Energy PLC  CNE.L : Davy Research cuts to neutral from outperform 
    * Cape  CIU.L : Investec raises target price to 325p from 290p 
    * Cape  CIU.L : Investec cuts to add from buy 
    * Commerzbank  CBKG.DE : Morgan Stanley raises to overweight from equal-weight  
    * Commerzbank  CBKG.DE : Morgan Stanley raises target price to 16 euros from 11.80 euros 
    * Credit Agricole  CAGR.PA : BofA Merrill raises to neutral rating 
    * Credit Agricole  CAGR.PA : Deutsche Bank ups target to 11.70 euros from 10.70 euros; hold 
    * Credit Agricole  CAGR.PA : RBC ups target to 12.25 euros from 11.70 euros; sector perform 
    * Delta Lloyd NV  DLL.AS : ING raises target price to 23.5 euros from 21 euros; rating buy 
    * Delticom  DEXGn.DE : Exane BNP Paribas cuts target to 46 euros from 51 euros; outperform 
    * Derwent London  DLN.L : Exane BNP Paribas raises target to 3,210p from 2,960p; outperform 
    * Deutsche Lufthansa  LHAG.DE : Morgan Stanley raises target to 20.85 from 18.40 euros 
    * Drillisch  DRIG.DE : ESN/Equinet Bank ups target to 27.50 euros from 26 euros; accumulate 
    * DS Smith PLC  SMDS.L : Barclays rates as overweight; target price 380p 
    * EI Towers  EIT.MI : Berenberg raises target price to 49.40 euros from 39 euros;rating buy 
    * Eramet  ERMT.PA : SocGen raises to hold from sell rating 
    * Eramet  ERMT.PA : SocGen raises target price to 87 euros from 67 euros 
    * Eurocash SA  EUR.WA : JP Morgan cuts target price to Pln 39 from Pln 48; rating neutral 
    * Eurotunnel  GETP.PA : UBS raises target price to 9.8 euros from 9 euros; rating buy 
    * Faiveley  FAIP.PA : HSBC cuts target price to 60 euros from 65 euros; rating neutral 
    * Finmeccanica  SIFI.MI : Deutsche Bank raises target to 5.70 euros from 5 euros; sell 
    * Finmeccanica  SIFI.MI :Exane BNP Paribas ups target to 5 euros from 4 euros; underperform 
    * Financiere De Tubize  TUB.BR : ESN/Bank Degroof cuts to reduce from hold 
    * Great Portland Estates  GPOR.L :Exane BNP Paribas ups target to 760p from 710p;outperform 
    * Hochtief  HOTG.DE : SocGen raises target price to 79.7 euros from 73 euros; rating buy 
    * IAG  ICAG.MC : Morgan Stanley raises target price to 6.30 euros from 5.40 euros 
    * IAG  ICAG.MC : Morgan Stanley removes from Europe Best Ideas list; rating overweight 
    * Imperial Tobacco  IMT.L : Credit Suisse raises target to 2700p from 2600p; outperform 
    * Kentz  KENZ.L : Investec raises target price to 810p from 775p; rating buy 
    * Land Securities  LAND.L : Exane BNP Paribas raises target to 1280p from 1150p; outperform 
    * Ladbrokes PLC  LAD.L : Barclays cuts target price to 117p from 128p; rating underweight 
    * Lindt & Spruengli  LISN.S :Credit Suisse ups target to Sfr 49,000 from Sfr 46,000;neutral 
    * Lloyds Banking Group PLC  LLOY.L : Investec raises to buy from hold 
    * London Mining  LOND.L : Goldman Sachs raises to neutral from sell 
    * London Mining  LOND.L : Goldman Sachs removes from pan-Europe sell list 
    * Majestic Wine PLC  MJW.L : Investec cuts target price to 460p from 620p; rating buy 
    * Miton Group  MGRM.L : Peel Hunt raises target price to 50p from 46p; rating hold 
    * Obrascon Huarte Lain  OHL.MC : SocGen cuts target to 31.9 euros from 32.1 euros; hold 
    * Outokumpu  OUT1V.HE : Credit Suisse raises target price to 0.26 eur from 0.15 eur 
    * Outokumpu  OUT1V.HE : Credit Suisse raises to outperform from underperform  
    * Rational  RAAG.DE : Berenberg raises target price to 235 euros from 228 euros;rating hold 
    * Rational  RAAG.DE : HSBC raises target price to 258 euros from 237 euros; rating neutral 
    * Rational  RAAG.DE : DZ Bank raises target price to 210 euros from 183 euros; rating sell 
    * Restaurant Group  RTN.L : Investec starts with buy rating; price target of 755p 
    * Ryanair  RYA.I : Investec raises target price to 8 euros from 7.20 euros; rating buy 
    * Segro  SGRO.L : Exane BNP Paribas raises to neutral; target price to 380p from 340p 
    * SGL Carbon  SGCG.DE : Deutsche Bank cuts target to 16 euros from 18 euros; rating sell 
    * Spaceandpeople  SAL.L : Cantor Fitzgerald raises target to 170p from 147p; rating buy 
    * Suez Environnement  SEVI.PA : RBC ups target to 16.25 euros from 13.75 euros; outperform 
    * Takkt  TTKG.DE : Commerzbank raises target price to 17.50 euros from 17 euros; rating buy 
    * Ted Baker  TED.L : Jefferies raises target price to 2500p from 2300p; rating buy 
    * Telit Communications  TELT.L : Canaccord Genuity raises target price to 290p; rating buy 
    * ThromboGenics  THR.BR : Goldman Sachs starts with neutral rating; target of 23 euros 
    * Valora Holding  VALN.S : Berenberg raises to buy from hold; target to Sfr 290 from 199 
    * Volkswagen  VOWG_p.DE : JP Morgan raises target to 222 euros from 220 euros; overweight 
    * Wacker Chemie  WCHG.DE : Morgan Stanley cuts target to 72 euros from 77 euros;underweight 
    * Wendel SA  MWDP.PA : SocGen raises target price to 129 euros from 112 euros; rating buy 
    * William Hill  WMH.L : Barclays cuts target price to 370p from 393p; rating equal weight 
 
 (Compiled by Rachel Chitra and Geetha Panchaksharam 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/