EUROPE RESEARCH ROUNDUP: GlaxoSmithKline, TeliaSonera, Syngenta
06/02/2014 16:03
Feb 6 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including GlaxoSmithKline and Gedeon Richter, on Thursday.
HIGHLIGHTS
* Gedeon Richter GDRB.BU : HSBC, UBS, Jefferies downgrade rating on stock
* GlaxoSmithKline GSK.L : Bernstein cuts target to 1603p from 1672p; rating market perform
* Elekta EKTAb.ST : UBS removes from most preferred list; rating neutral
* TeliaSonera AB TLSN.ST : S&P Capital cuts to hold from buy
* Syngenta SYNN.VX : Goldman drops from conviction buy list; BofA Merrill cuts to neutral
Following is a summary of research actions on European companies reported by Reuters on
Thursday. Stock entries are in alphabetical order.
* ABB Ltd ABBN.VX : Berenberg cuts target price to Sfr 22.40 from Sfr 23; rating hold
* Aberdeen Asset Management ADN.L : RBC cuts target to 485p from 550p; rating outperform
* Abertis ABE.MC : ESN/Beka Finance cuts to reduce from hold
* Abertis ABE.MC : ESN/Beka Finance ups target to 15.70 euros from 14.72 euros
* Accor ACCP.PA : HSBC raises to neutral from underweight
* Adidas ADSGn.DE : Raymond James cuts target to 93 euros from 97 euros; rating outperform
* Adidas ADSGn.DE : JP Morgan raises target to 97 euros from 3 euros; rating overweight
* Akbank AKBNK.IS : SocGen cuts target price to tl 5.3 from tl 6.5; rating sell
* Akzo Nobel AKZO.AS : Morgan Stanley raises target to 65 euros from 63 euros; overweight
* Alfa Laval ALFA.ST : UBS raises target price to Sek 165 from Sek 150; rating neutral
* Alfa Laval ALFA.ST : Commerzbank raises target to Sek 140 from Sek 130; rating reduce
* Alfa Laval ALFA.ST : JP Morgan raises target to Sek 160 from Sek 155; rating neutral
* Alfa Laval ALFA.ST : Canaccord Genuity ups target to Sek 155 from Sek 145; rating hold
* Alfa Laval ALFA.ST : SEB Equity Research ups to buy from hold;target to Sek 180 from 160
* Almirall ALM.MC : Berenberg raises target price to 15 euros from 13 euros; rating buy
* ARM Holdings ARM.L : Exane BNP Paribas cuts target by 5 percent to 916p; rating neutral
* AstraZeneca AZN.L : S&P Capital IQ raises target price to 3800p from 3700p; rating hold
* Banco Popular POP.MC : S&P Capital IQ raises to hold from sell
* Bankia BKIA.MC : Citigroup starts with neutral; target price of 1.45 euro
* Beazley BEZG.L : Numis raises to buy from add; raises target price by 5p to 305p
* BG Group PLC BG.L : Credit Suisse cuts target to 1,100p from 1,115p; rating neutral
* BMW BMWG.DE : Credit Suisse starts with underperform; 80 euros price target
* BNP Paribas BNPP.PA : Credit Suisse ups target to 65.7 euros from 56.5 euros; outperform
* Borregaard BRGD.OL : UBS raises target price to Nok 38 from Nok 35; rating buy
* Boursorama FMTX.PA : ESN/ CM - CIC securities cuts to hold from buy
* Carlsberg A/S CARLb.CO : Nordea Equity cuts target to Dkk 600 from Dkk 640; rating hold
* CNH Industrial CNHI.MI : Macquarie cuts target to 6.8 euros from 7.5 euros; underperform
* Commerzbank CBKG.DE : Credit Suisse ups target to 10.62 euros from 9.18 euros
* Compugroup COPMa.DE : Berenberg raises target to 21 euros from 18 euros; rating hold
* Corbion CORB.AS : ING raises to buy from hold
* Daily Mail & General Trust DMGOa.L : Investec ups target to 1055p from 975p; rating buy
* Daily Mail & General Trust DMGOa.L : Canaccord ups target to 970p from 886p; rating hold
* Daily Mail & General Trust DMGOa.L : Nomura ups target to 1060p from 900p;rating neutral
* Daimler DAIGn.DE : Credit Suisse starts with outperform - Theflyonthewall.com
* Darty DRTY.L : SocGen raises target price to 124p from 105p ; rating hold
* Drax Group DRX.L : JP Morgan raises target price to 845p from 810p; rating overweight
* Edenred EDEN.PA : HSBC raises to overweight from neutral
* Elekta EKTAb.ST : UBS removes from most preferred list; rating neutral
* French Connection Group FCCN.L : Cantor raises target price to 45p from 40p; rating hold
* Gedeon Richter GDRB.BU : HSBC cuts to neutral from overweight
* Gedeon Richter GDRB.BU : UBS cuts to neutral from buy
* Gedeon Richter GDRB.BU : Jefferies cuts to underperform from hold
* Gjensidige Forsikring GJFS.OL : SEB Equity Research cuts to sell from hold
* GlaxoSmithKline GSK.L : Bernstein cuts target to 1603p from 1672p; rating market perform
* GlaxoSmithKline GSK.L : SocGen cuts target price to 1,950p from 1,960p; rating buy
* GlaxoSmithKline GSK.L : Deutsche Bank cuts target price to 1620p from 1700p; rating hold
* GlaxoSmithKline GSK.L : Helvea cuts target price to 1,680p from 1,710p; rating hold
* Graphene Nanochem GRPHG.L : Panmure raises target price to 110p from 88p; rating buy
* Groupe Crit CITT.PA : Natixis raises target to 40 euros from 46 euros; rating neutral
* Grupo Catalana Occidente GCO.MC : JP Morgan ups target to 26.60 euros from 23.80 euros
* Hargreaves Lansdown HRGV.L : Jefferies cuts to hold from buy
* Hays HAYS.L : Credit Suisse raises target price to 150p from 135p; rating outperform
* Heidelberger Druck HDDG.DE : HSBC cut to underweight from neutral
* Hennes & Mauritz HMb.ST : HSBC raises to overweight from neutral
* Hennes & Mauritz HMb.ST : HSBC raises target to Sek 355 from Sek 300
* Hermes HRMS.PA : JP Morgan raises target to 220 euros from 215 euros; rating underweight
* Hikma Pharmaceuticals HIK.L : UBS adds to most preferred list; rating buy
* ICAP PLC IAP.L : JP Morgan raises target price to 364p from 344p; rating neutral
* JD Wetherspoon JDW.L : HSBC cuts to underweight from neutral
* KPN KPN.AS : S&P Capital IQ raises target to 2.70 euros from 2.40 euros; rating hold
* Lonmin LMI.L : RBC raises to outperform from underperform; target to 370p from 310p
* Lotus Bakeries LOTB.BR : ESN/Bank Degroof ups target to 770 euros from 720 euros; hold
* Melexis MLXS.BR : Natixis raises target price to 26 euros from 25 euros; rating neutral
* Metro MEOG.DE : Nomura raises to buy from neutral; target to 39.80 euros from 26 euros
* Michael Page International MPI.L : Credit Suisse raises to outperform from neutral
* Michael Page International MPI.L : Credit Suisse raises target price to 530p from 490p
* Moleskine MSK.MI : Goldman Sachs cuts to neutral from buy
* Ossur OSSR.CO : Jefferies raises to buy from hold
* Ossur OSSR.CO : Jefferies raises target to Dkk 13.20 from Dkk 7.70
* OTE OTEr.AT : UBS raises target price to 11.2 euros from 8.2 euros
* Peugeot PEUP.PA : Credit Suisse starts with underperform - Theflyonthewall.com
* Pirelli PECI.MI : Natixis cuts to reduce from neutral
* Porsche PSHG_p.F : Credit Suisse starts with neutral; 75 euros price target
* Premier Farnell PFL.L : Credit Suisse cuts target to 225p from 230p; rating neutral
* Puma PUMG.DE : Goldman Sachs cuts to sell from neutral
* PZU PZU.WA : JP Morgan raises target price to Pln 497 from Pln 466; rating overweight
* Reckitt Benckiser Group RB.L : Credit Suisse raises to outperform from neutral
* Reckitt Benckiser Group RB.L : Credit Suisse raises target price to 5200p from 4650p
* Renault SA RENA.PA : Credit Suisse starts with outperform; 80 euros price target
* Repsol REP.MC : Goldman Sachs resumes with neutral rating
* Rexel RXL.PA : Goldman Sachs cuts to buy from Conviction List buy
* RSA Insurance Group RSA.L : Deutsche Bank raises target to 109p from 92p; rating hold
* Sanofi SASY.PA : S&P Capital IQ cuts target price to 76 euros from 83 euros; rating hold
* Schneider Electric SCHN.PA : SocGen cuts target to 71 euros from 73 euros; rating buy
* Schroders SDR.L : RBC raises target price to 2,550p from 2,500p; rating sector perform
* SEB SEBa.ST : Berenberg raises target price to Sek 82 from Sek 75;rating hold
* SEB SEBa.ST : Credit Suisse raises target to Sek 104 from Sek 101;rating outperform
* SEB SEBa.ST : UBS raises target price to Sek 85 from Sek 80; rating neutral
* Societe Generale SOGN.PA : Natixis raises target to 56 euros from 48 euros; rating buy
* Societe Generale SOGN.PA : Credit Suisse ups target to 48.5 euros from 43.4 euros
* Sthree Plc STHR.L : Credit Suisse raises target to 450p from 425p; rating outperform
* Stora Enso STERV.HE : UBS raises target price to 6 euros from 5.5 euros; rating sell
* Stora Enso STERV.HE : SEB Equity Research cuts to sell from hold
* SuperGroup SGP.L : Canaccord Genuity raises target price to 1625p from 1530p; rating buy
* Swatch Group UHR.VX : JP Morgan raises target to Sfr 552 from Sfr 543; rating neutral
* Swatch Group UHR.VX : Bernstein raises target to Sfr 640 from Sfr 620; market perform
* Svenska Cellulosa SCAb.ST : HSBC starts with overweight; target Sek 225
* Svenska Handelsbanken SHBa.ST : Berenberg ups target to Sek 295 from Sek 285; hold
* Synergie SDGI.PA : Natixis raises target price to 20 euros from 14 euros; rating neutral
* Syngenta SYNN.VX : UBS raises to neutral from sell
* Syngenta SYNN.VX : Goldman Sachs removes from pan-Europe conviction buy list; rating buy
* Syngenta SYNN.VX : Barclays cuts target to Sfr 346 from Sfr 390; rating equal weight
* Syngenta SYNN.VX : Citigroup cuts target price to Sfr 340 from Sfr 390; rating neutral
* Syngenta SYNN.VX : Exane BNP Paribas cuts target by 6 pct to Sfr 320; rating neutral
* Syngenta SYNN.VX : BofA Merrill cuts to neutral rating
* Syngenta SYNN.VX : S&P Capital IQ cuts target price to Sfr 330 from Sfr 380; rating hold
* TeliaSonera AB TLSN.ST : S&P Capital cuts to hold from buy
* TeliaSonera AB TLSN.ST : S&P Capital cuts price target to Sek 52 from Sek 56
* Tenaris TENR.MI : ESN/Banca Akros raises to accumulate from reduce
* Tenaris TENR.MI : ESN/Banca Akros raises target price to 18 euros from 15.50 euros
* Transmode TRMO.ST : UBS cuts target price to Sek 97 from Sek 110; rating neutral
* Tod's TOD.MI : Goldman Sachs raises to neutral from sell
* Tomra Systems TOM.OL : SEB Equity Research ups to buy from hold;target to Nok 60 from 55
* TUI Travel TT.L : Numis cuts to hold from add
* USG People USGP.AS : Natixis raises target price to 11 euros from 9 euros; rating buy
* Valeo VLOF.PA : HSBC cuts to underweight from neutral
* Viscofan VIS.MC : UBS cuts target price to 44 euros from 47 euros; rating buy
* Volkswagen AG VOWG_p.DE : Credit Suisse starts with outperform - Theflyonthewall.com
* Wolfson Microelectronics WLF.L : Citigroup cuts target to 136p from 150p; rating neutral
* Work Service WSEP.WA : Wood Company starts with buy; target Pln 16.6
* Zumtobel ZUMV.VI : Berenberg raises target price to 19 euros from 15 euros; rating buy
(Compiled by Saqib Iqbal Ahmed and Fareha Khan)
((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/