Europe Research Roundup: E.ON, Vodafone, Carl Zeiss Meditec, Solvay

Folli Follie SA

30/06/2014 16:24

June 30 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including E.ON, Carl Zeiss Meditec and Osram Licht, on Monday.  
     
    HIGHLIGHTS 
    * E.ON  EONGn.DE : DZ Bank cuts to hold from buy 
    * Vodafone Group  VOD.L : Oriel Securities raises to hold from reduce  
    * EasyJet Plc  EZJ.L : Bofa Merrill cuts to underperform from neutral - Theflyonthewall.com  
    * Carl Zeiss Meditec AG  AFXG.DE : Berenberg raises to buy from hold 
    * Solvay  SOLB.BR : Exane BNP Paribas raises to outperform from neutral 
       
Following is a summary of research actions on European companies reported by Reuters on Monday. 
Stock entries are in alphabetical order. See bottom of the table for sector changes.   
 
    * Aberdeen Asset Management  ADN.L : Barclays raises target to 510p from 490p; overweight 
    * Actelion  ATLN.VX : Helvea Baader Bank raises target price to Sfr 113 from Sfr 89; hold  
    * Alpha Bank  ACBr.AT : JP Morgan raises target to 1.01 euros from 0.95 euros; overweight  
    * Anglo American  AAL.L : JP Morgan cuts target to 1370p from 1490p; rating underweight 
    * ArcelorMittal  ISPA.AS : RBC cuts target price to 14 euros from 16 euros; outperform  
    * Atos SE  ATOS.PA : Natixis cuts target price to 77.5 euros from 81 euros; rating buy 
    * BHP Billiton  BLT.L : JP Morgan cuts target price to 2150p from 2250p; rating neutral  
    * BNP Paribas  BNPP.PA : UBS cuts target price to 54.7 euros from 63 euros; neutral  
    * British American Tobacco  BATS.L : Citigroup drops fom focus list Europe; keep buy rating  
    * British American Tobacco  BATS.L : Jefferies raises price target to 3900p; rating buy 
    * Cairn Energy  CNE.L : Jefferies cuts price target to 285p from 385p; rating buy  
    * Cape  CIU.L : JP Morgan starts with overweight rating; price target 350p 
    * Carl Zeiss Meditec AG  AFXG.DE : Berenberg raises to buy from hold 
    * Carl Zeiss Meditec AG  AFXG.DE : Berenberg raises target to 27 euros from 25 euros 
    * CAT Oil  O2C.DE : Deutsche Bank raises target to 23.50 euros from 21.50 euros; rating buy  
    * Credit Agricole  CAGR.PA : UBS cuts target price to 12.9 euros from 13.50 euros; buy  
    * Drillisch  DRIG.DE : Berenberg raises target price to 31 euros from 29 euros; rating buy  
    * EasyJet Plc  EZJ.L : Bofa Merrill cuts to underperform from neutral - Theflyonthewall.com  
    * Enel SpA  ENEI.MI : UBS raises target price to 5.15 euros from 4.90 euros; rating buy 
    * E.ON  EONGn.DE : DZ Bank cuts to hold from buy 
    * E.ON  EONGn.DE : DZ Bank raises target price to 15 euros from 14.40 euros 
    * Eurasia Drilling  EDCLq.L : Deutsche Bank cuts to hold from buy 
    * Eurasia Drilling  EDCLq.L : Deutsche Bank raises price target to $34 from $32  
    * Euronext  ENX.PA : UBS raises target price to 17.90 euros from 17 euros; rating sell 
    * Fiat  FIA.MI : Macquarie raises target price to 5.80 euros; rating underperform 
    * Folli Follie SA  HDFr.AT : Wood Company ups target to 36 euros from 33 euros; rating buy 
    * Fresenius Medical Care  FMEG.DE : Jefferies cuts to underperform; price target to 43 euros 
    * Fresenius SE  FREG.DE : Jefferies raises target to 126 euros from 113 euros;rating buy 
    * Grenkeleasing  GKLG.DE : ESN/Equinet Bank raises to accumulate from hold  
    * Holcim  HOLN.VX : ESN/CM - CIC Securities raises to buy from accumulate  
    * Hornbach Holding  HBHG_p.DE : Deutsche Bank raises target price to 82 euros from 76 euros  
    * Imperial Tobacco  IMT.L : Jefferies raises price target to 2700p; rating hold  
    * Interserve  IRV.L : Numis raises to buy from add 
    * Intesa Sanpaolo  ISP.MI : SocGen adds to Premium List; rating buy 
    * Legal & General  LGEN.L : Canaccord Genuity raises target price to 240p from 220p 
    * Mediaset Spa  MS.MI : Deutsche Bank raises target to 5 euros from 4.80 euros; rating buy  
    * Michelin  MICP.PA : Citigroup raises target price to 109 euros from 96 euros; rating buy 
    * Moscow Exchange  MOEX.MM : Renaissance Capital raises target to 85 roubles from 75 roubles 
    * National Bank of Greece  NBGr.AT : JP Morgan raises target to 3.59 euros from 2.85 euros;  
    * Next  NXT.L : Credit Suisse raises target price to 6800p from 6500p; rating neutral 
    * Novartis  NOVN.VX : Bryan Garnier raises fair value to Sfr 86 from Sfr 79.5; rating buy 
    * Osram Licht  OSRn.DE : JP Morgan raises to neutral from underweight 
    * Osram Licht  OSRn.DE : UBS cuts target price to 44 euros from 45.5 euros; rating buy  
    * Petrofac  PFC.L : Natixis cuts price target to 1500p from 1600p; rating buy  
    * Piraeus Bank  BOPr.AT : JP Morgan raises target to 2.45 euros from 2.29 euros; overweight  
    * PKN Orlen  PKN.WA : SocGen raises to hold from sell rating 
    * Powerflute  POWR.L : Numis raises to buy from hold; price target to 45p from 37p 
    * Rio Tinto  RIO.L : JP Morgan cuts target price to 4100p from 4500p; rating overweight  
    * Ryanair Holdings  RYA.I :Bofa Merrill ups to neutral from underperform-Theflyonthewall.com 
    * Safestore  SAFE.L : Liberum raises target price to 284p from 267p; rating buy  
    * Siemens AG  SIEGn.DE : Citigroup reinstates with buy rating; target price 110 euros 
    * Siemens AG  SIEGn.DE : Citigroup adds to focus list Europe  
    * Societe Generale  SOGN.PA : UBS cuts target price to 50.3 euros from 52 euros; rating buy  
    * Solvay  SOLB.BR : Exane BNP Paribas raises to outperform from neutral; target to 138 euros 
    * Syngenta  SYNN.VX : JP Morgan cuts to underweight from neutral 
    * Syngenta  SYNN.VX : JP Morgan cuts target to Sfr 250 from Sfr 340 
    * TMK  TRMKq.L : Natixis cuts to neutral from buy  
    * Tryg A/S  TRYG.CO : JP Morgan raises target price to Dkk 541 from Dkk 536; rating neutral 
    * TUI AG  TUIGn.DE : DZ Bank raises to hold from sell 
    * TUI AG  TUIGn.DE : DZ Bank raises target price to 12.90 euros from 11.20 euros 
    * Vedanta Resources  VED.L : JP Morgan raises target to 1120p from 1000p; rating neutral 
    * Vodafone Group  VOD.L : Oriel raises to hold from reduce rating  
    * Vossloh  VOSG.DE : ESN/Equinet Bank raises to buy from reduce  
    * Vossloh AG  VOSG.DE : Exane BNP Paribas cuts target to 55 euros from 68 euros; neutral 
    * Vossloh  VOSG.DE : Natixis cuts to reduce from neutral rating; price target to 52 euros  
    * Vossloh AG  VOSG.DE : Commerzbank cuts target price to 70 euros from 82 euros; rating add  
    * Zotefoams Plc  ZTF.L : Investec raises to buy from add 
     
    SECTOR CHANGES 
    * Capital Goods: JP Morgan raises to overwight from neutral 
    * Chemicals: JP Morgan raises to neutral from underweight  
    * Utilities: JP Morgan cuts to neutral from overweight 
     
 
 (Compiled by Saqib Iqbal Ahmed and Mohan Anand in Bangalore) 
 ((saqib.ahmed@thomsonreuters.com)(within U.S. +1 646 223 8780 outside U.S. +91 80 6749 
1130)(Reuters Messaging: saqib.ahmed.thomsonsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/