Europe Research Roundup: BHP Billiton, AB Inbev, ASOS, Nordea

Fleury Michon SA

17/09/2014 15:25

Sept 17 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including ASOS, Nestle and Munich Re, on Wednesday.  
     
     
    HIGHLIGHTS 
    * BHP Billiton  BLT.L : Exane BNP Paribas cuts to underperform from neutral rating  
    * Anheuser-Busch Inbev  ABI.BR : SocGen raises to hold from sell  ID:nWNAB04QLD  
    * ASOS  ASOS.L : SocGen raises to buy from hold; target price to 5000p from 4855p 
    * Munich Re  MUVGn.DE : RBC cuts to underperform from sector perform 
    * Nordea  NDA.ST : UBS cuts to neutral from buy  ID:nWNAB04QJQ  
    * Chemring  CHG.L : Investec cuts to add from buy 
           
Following is a summary of research actions on European companies reported by Reuters on 
Wednesday. Stock entries are in alphabetical order.    
     
    * Aggregated Micro Power  AMPH.L : Finncap starts with target price 278p 
    * Allergy Therapeutics Plc  AGY.L : Panmure raises target price to 28p from 25p; rating buy 
    * Amerisur Resources  AMER.L : Firstenergy Capital starts with market perform; target of 80p 
    * Anadolu Efes  AEFES.IS : Oyak Securities raises to outperform from marketperform 
    * Anglo American  AAL.L : Exane BNP Paribas cuts target to 1500p from 1600p; rating neutral 
    * Anheuser-Busch Inbev  ABI.BR : SocGen raises to hold from sell 
    * Antofagasta Plc  ANTO.L : Exane BNP Paribas cuts target to 850p from 860p; rating neutral 
    * A. P. Moller-Maersk  MAERSKb.CO : Nordea raises target to 19,000 Dkk from 15,500 Dkk; buy 
    * Aquarius Platinum  AQP.L : RBC raises to outperform from sector perform 
    * ASOS  ASOS.L : Barclays cuts target price to 3700p from 4000p; rating overweight  
    * ASOS  ASOS.L : SocGen raises to buy from hold; target price to 5000p from 4855p 
    * ASOS  ASOS.L : Exane BNP Paribas cuts target price to 2200p from 2800p; rating neutral 
    * ASOS  ASOS.L : Deutsche Bank cuts to hold from buy; target price to 2400p from 3600p 
    * Austrian Post  POST.VI : Credit Suisse raises target to 37.40 euros from 36 euros; neutral 
    * BHP Billiton Plc  BLT.L : Exane BNP Paribas cuts to underperform from neutral rating  
    * BHP Billiton Plc  BLT.L : Exane BNP Paribas cuts target price to 1700p from 2000p 
    * Bilfinger SE  GBFG.DE : ESN/Equinet raises to hold from reduce 
    * Boliden  BOL.ST : Exane BNP Paribas raises target to Sek 135 from Sek 125; outperform 
    * C&C Group Plc  GCC.I : Investec starts with buy rating; target price of 5.45 euros 
    * Chemring  CHG.L : Investec cuts to add from buy 
    * Com Hem  COMH.ST : Berenberg starts with sell; target price Sek 43 
    * Cyfrowy  CPS.WA : ING raises target price to Pln 29.90 from Pln 24.70; rating buy 
    * Daily Mail and General Trust  DMGOa.L : Credit Suisse cuts target to 970p; outperform 
    * Daily Mail and General Trust  DMGOa.L : Canaccord Genuity cuts target to 852p; rating hold 
    * Daily Mail and General Trust  DMGOa.L : Panmure cuts target to 870p from 1025p; rating buy 
    * Danske  DANSKE.CO : UBS raises target price to Dkk 169 from Dkk 157; rating neutral 
    * DBV Technologies  DBV.PA : Natixis raises target to 30 euros from 23 euros; rating buy 
    * Dialog Semiconductor  DLGS.DE : Commerzbank raises to buy from hold rating  
    * Dialog Semiconductor  DLGS.DE : Commerzbank raises target price to 28 euros from 24 euros 
    * DMGT  DMGOa.L : Numis cuts target price to 1075p from 1180p; rating buy 
    * DNB  DNB.OL : UBS raises price target to Nok 132 from Nok 122; rating buy 
    * DNB  DNB.OL : UBS adds to European Banks Most Preferred List;top pick in Nordic Sub-Sector 
    * DS Smith  SMDS.L : Investec cuts target price to 380p from 390p; rating buy 
    * Ebro Foods  EBRO.MC : UBS raises to buy from neutral; price target to euros 17 
    * EG Solutions  EGS.L : Finncap raises target price to 100p 
    * Eramet  ERMT.PA : Exane BNP Paribas raises to outperform from neutral rating  
    * Eramet  ERMT.PA : Exane BNP Paribas raises target price to 105 euros from 103 euros 
    * Fenner  FENR.L : Panmure starts with sell; target price 300p 
    * Fleury Michon SA  FLMI.PA : ESN/CM-CIC Securities raises to buy from accumulate 
    * Galliford Try Plc  GFRD.L : Numis raises target price to 1234p from 1215p; rating hold 
    * Greggs Plc  GRG.L : Liberum raises target price to 600p from 550p; rating hold 
    * Handelsbanken  SHBa.ST : UBS adds to European Banks Least Preferred List 
    * Havas  EURC.PA : UBS raises price target to 7 euros; rating buy 
    * HSBC  HSBA.L : UBS adds to European Banks Most Preferred List 
    * ICAP  IAP.L : UBS raises to neutral from sell; price target to 340p 
    * Imagination Technologies  IMG.L :Investec cuts price target to 220p from 250p; rating hold 
    * Johnson Matthey  JMAT.L : Berenberg raises to buy from hold 
    * Johnson Matthey  JMAT.L : Berenberg raises price target to 3650p from 2900p 
    * Legal & General  LGEN.L : RBC raises target price to 200p from 190p; rating underperform 
    * Lenta Ltd  LNTAq.L : Credit Suisse raises price target to $15 from $12; rating outperform 
    * Mail.Ru  MAILRq.L : Barclays raises target price to $42.09 from $39.87; rating overweight 
    * Mail.Ru  MAILRq.L : Renaissance Capital raises target to $43.4 from $40.5; rating buy 
    * Man Group  EMG.L : Barclays reinstates with equal weight rating; price target 120p 
    * MOL  MOLB.BU : Nomura cuts price target to Huf 12500 from Huf 13000; rating reduce 
    * Munich Reinsurance  MUVGn.DE : RBC cuts to underperform from sector perform 
    * Munich Reinsurance  MUVGn.DE : RBC cuts target price to 144 euros from 165 euros 
    * N Brown  BWNG.L : Citigroup cuts price target to 425p from 515p; rating neutral 
    * Nestle  NESN.VX : SocGen cuts to hold from buy 
    * Nordea  NDA.ST : UBS cuts to neutral from buy 
    * OMV AG  OMVV.VI : Nomura cuts price target to 30 euros from 31 euros; rating reduce 
    * PKC Group  PKC1V.HE : ESN/Pohjola raises to accumulate from hold 
    * Purecircle Ltd  PURE.L : Numis raises to add from hold rating;ups target to 700p from 600p 
    * Purecircle Ltd  PURE.L : Numis raises to add from hold 
    * Renault  RENA.PA : Natixis cuts target price to 84 euros from 85 euros; rating buy 
    * Richemont  CFR.VX : Renaissance Capital cuts target to Sfr 95.0 from Sfr 97.0; rating hold 
    * SEB  SEBa.ST : UBS raises to neutral from sell 
    * Sportech  ROD.L : Peel Hunt cuts target price to 79p from 103p; rating buy 
    * Swedbank  SWEDa.ST : UBS cuts target price to Sek 197 from Sek 217; rating buy 
    * Teliasonera  TLSN.ST : Berenberg raises target price to Sek 47.50 from Sek 44; rating hold 
    * UPM Kymmene  UPM1V.HE : Credit Suisse raises to neutral from underperform 
    * UPM Kymmene  UPM1V.HE : Credit Suisse raises price target to 13 euros from 11.55 euros 
    * Vesuvius  VSVS.L : UBS raises to buy from sell; price target to 560p 
    * World Duty Free  WDF.MI : Citigroup cuts target to 10.30 euros from 10.80 euros; buy 
    * Zodiac Aerospace  ZODC.PA : JP Morgan cuts target to 31.50 from 34.50 euros; overweight 
    * Zodiac Aerospace  ZODC.PA : Natixis cuts target to 26 euros from 28 euros; rating neutral 
     
    INDICE CHANGE: 
    * FTSE 100  .FTSE : Credit Suisse raises year-end target to 7,000 from 6,900 
 
     
 
 (Compiled by Fareha Khan and Jai Ganesh in Bangalore) 
 ((fareha.khan@thomsonreuters.com; within U.S. +1 646 223 8780 outside U.S. +91 80 6749 1130; 
Reuters Messaging: fareha.khan.thomsonsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/