Europe Research Roundup: E.ON, SeaDrill, SAP, Swatch Group

Frigoglass SAIC

19/09/2014 16:35

Sept 19 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Hermes and Swatch Group, on Friday.  
     
     
    HIGHLIGHTS 
    * E.ON  EONGn.DE : Berenberg ups to hold from sell; target to 14.50 euros from 12.40 euros 
    * SeaDrill  SDRL.OL : Exane BNP Paribas cuts to underperform from neutral rating 
    * SAP  SAPG.DE : Commerzbank cuts to add from buy 
    * Hermes  HRMS.PA : Renaissance Capital raises to hold from sell rating 
    * Swatch Group  UHR.VX : Barclays cuts target price to Sfr 565 from Sfr 600 
    * Aixtron  AIXGn.DE : Berenberg raises to buy from hold 
     
       
Following is a summary of research actions on European companies reported by Reuters on Friday. 
Stock entries are in alphabetical order.  
     
    * AFK Sistema  SSAq.L : Deutsche Bank cuts to hold from buy rating 
    * AFK Sistema  SSAq.L : Deutsche Bank cuts target price to $12.80 from $29.30 
    * Aixtron  AIXGn.DE : Berenberg raises to buy from hold 
    * Aixtron  AIXGn.DE : Berenberg raises target price to 13 euros from 11 euros 
    * AP Moller Maersk  MAERSKb.CO : JP Morgan ups target to Dkk 17600 from Dkk 17000;overweight 
    * Ashtead Group  AHT.L : Credit Suisse assumes coverage with an outperform rating 
    * Aveva Group  AVV.L : UBS cuts target price to 1950p from 2500p; rating buy 
    * Bayer AG  BAYGn.DE : Natixis raises target price to 125 euros from 113 euros; rating buy 
    * Bayer AG  BAYGn.DE : Commerzbank raises target to 122 euros from 114 euros; rating buy 
    * Bayer AG  BAYGn.DE : DZ Bank raises target price to 120 euros from 114 euros; rating buy 
    * Booker  BOK.L : Exane BNP Paribas raises target to 115p from 110p; rating underperform 
    * Chemring  CHG.L : Canaccord Genuity raises to hold; target price to 225p 
    * Clean Air Power  CAPC.L : Panmure cuts to hold from buy rating; target to 5p from 10p 
    * Commerzbank  CBKG.DE : ESN/Equinet Bank cuts to hold from buy 
    * CVS Group  CVSG.L : Peel Hunt raises target price to 380p from 350p; rating buy 
    * Daily Mail and General Trust  DMGOa.L : Goldman Sachs cuts price target to 951p from 1230p 
    * Deutsche Telekom  DTEGn.DE : Citigroup raises to buy from neutral - Theflyonthewall.com 
    * E.ON SE  EONGn.DE : Berenberg ups to hold from sell; target to 14.50 euros from 12.40euros 
    * Elmos Semiconductor  ELGG.DE : ESN/Equinet Bank starts with buy 
    * Ericsson  ERICb.ST : Nomura raises target price to Sek 91 from Sek 86; rating neutral 
    * Erste Group  ERST.VI : Barclays raises target price to 21.90 euros from 21.40 euros 
    * Fortum  FUM1V.HE : Berenberg raises price target to 22 euros from 20 euros; rating buy 
    * Frigoglass  FRIr.AT : Piraeus Bank cuts to neutral from outperform 
    * Frigoglass  FRIr.AT : Piraeus Bank cuts target price to 3.70 euros from 5 euros 
    * GDF Suez  GSZ.PA : Berenberg cuts to hold from buy; target to 20.50 euros from 21.50 euros 
    * Grupa Lotos  LTSP.WA : Deutsche Bank cuts target price to Pln 30 from Pln 40; rating hold 
    * Hermes  HRMS.PA : Renaissance Capital raises to hold from sell rating 
    * Heurtey Petrochem  ALHPC.PA : Natixis cuts target price to 36 euros from 42 euros; buy 
    * Hiscox Ltd  HSX.L : Deutsche Bank raises to hold from sell rating 
    * Howden Joinery Group  HWDN.L : Jefferies raises target price to 260p 
    * Intervest Offices & Warehouses  PRIF.BR : ESN/Bank Degroof raises to accumulate from hold 
    * Jeronimo Martins  JMT.LS : Jefferies cuts price target to 9 euros from 13 euros; hold 
    * Just Retirement  JRG.L : Deutsche Bank raises target price to 180p from 170p; rating hold 
    * Kontron  KBCG.DE : Berenberg reinitiates with a buy rating 
    * Mauna Kea Technologies  MKEA.PA : SocGen cuts to hold from buy 
    * Mauna Kea Technologies  MKEA.PA : SocGen revises target price to 6.5 euros from 16 euros 
    * Merlin Entertainments  MERL.L : Credit Suisse raises target price to 400p from 380p 
    * Merlin Entertainments  MERL.L : Nomura raises price target to 375p from 372p 
    * Michelin  MICP.PA : Berenberg starts with buy; target price 95 euros  
    * MOL  MOLB.BU : Deutsche Bank cuts to hold from buy; cuts target to Huf 14000 from Huf15500 
    * Nokian  NRE1V.HE : Berenberg starts with hold; target price 26.50 euros 
    * Nutreco  NUO.AS : Berenberg cuts target price to 26 euros from 27 euros; rating sell 
    * Old Mutual Plc  OML.L : Barclays cuts target price to 215p from 220p 
    * Orange SA  ORAN.PA : Goldman Sachs raises to neutral; target to 13.6 euros from 13 euros 
    * Orange SA  ORAN.PA : Goldman Sachs removes from Pan-Europe sell list 
    * Pirelli  PECI.MI : Berenberg starts with buy; target price 14.50 euros  
    * PKN Orlen  PKN.WA : Deutsche Bank raises target price to Pln 41 from Pln 40; rating hold 
    * Private & Commercial Finance  PCF.L : Panmure raises target to 17.30p from 14.20p; buy 
    * Raiffeisen Bank  RBIV.VI : Barclays cuts target price to 24.70 euros from 27.50 euros 
    * Richemont SA  CFR.VX : UBS cuts price target to Sfr 95 from Sfr 99; rating buy 
    * RPC Group Plc  RPC.L : Deutsche Bank cuts target price to 680p from 705p; rating buy 
    * Rubis  RUBF.PA : Exane BNP Paribas raises to outperform from neutral rating 
    * Rubis  RUBF.PA : Exane BNP Paribas raises target price to 51 euros from 49 euros 
    * RWE AG  RWEG.DE : Berenberg raises to buy from sell; target to 36 euros from 27 euros 
    * SABMiller  SAB.L : Nomura raises to neutral from reduce; price target to 3600p 
    * Saipem  SPMI.MI : Natixis cuts target price to 17.6 euros from 20 euros; rating neutral 
    * SAP  SAPG.DE : Commerzbank cuts to add from buy 
    * SAP  SAPG.DE : S&P Capital IQ raises to buy from hold rating  
    * SeaDrill  SDRL.OL : Exane BNP Paribas cuts to underperform from neutral rating 
    * SeaDrill  SDRL.OL : Exane BNP Paribas cuts target price to Nok 172 from Nok 220 
    * SGL Group  SGCG.DE : Commerzbank cuts target price to 18.50 euros from 20 euros; hold 
    * SSE Plc  SSE.L : Exane BNP Paribas raises to outperform from neutral rating 
    * SSE Plc  SSE.L : Exane BNP Paribas raises target price to 1700p from 1500p 
    * SSE Plc  SSE.L : HSBC raises to neutral from underperform; target to 1620p from 1490p 
    * Standard Life  SL.L : Panmure raises target price to 465p from 420p; rating buy 
    * Swatch Group  UHR.VX : Barclays cuts target price to Sfr 565 from Sfr 600 
    * Swiss Re  SRENH.VX : Vontobel cuts price target to Sfr 85 from Sfr 90; rating buy 
    * Total SA  TOTF.PA : S&P Capital IQ raises to buy from hold 
    * Valora  VALN.S : Credit Suisse cuts price target to Sfr 195 from Sfr 237; rating neutral 
    * Vaudoise  VAHN.S : Vontobel raises target price to Sfr 475 from Sfr 460; rating buy 
    * Verbund AG  VERB.VI : Berenberg raises to buy from sell 
    * Verbund AG  VERB.VI : Berenberg raises price target to 17.50 euros from 12.20 euros 
    * Vinci  SGEF.PA : SocGen adds to The Premium list 
    * WANdisco  WAND.L : UBS cuts target price to 1400p from 1500p; rating buy 
    * WANdisco  WAND.L : Finncap starts with target price of 700p 
    * Wolseley  WOS.L : Jefferies cuts target price to 2,630p 
    * Zodiac Aerospace ZODC.PA :Exane BNP Paribas cuts target to 31euros from 32euros;outperform 
     
     
 
 (Compiled by Fareha Khan and Geetha Panchaksharam 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/