EUROPE RESEARCH ROUNDUP: Hennes & Mauritz, Volkswagen, Aviva, Lafarge

Krka dd Novo Mesto

29/07/2013 14:28

July 29 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Aviva and Hennes & Mauritz, on Monday.  
     
    HIGHLIGHTS 
    * Euro insurance: Panmure raises price target on Aviva  AV.L , others  ID:nWNAB02937  
    * Hennes & Mauritz  HMb.ST : Deutsche Bank raises to buy; target to Sek 275 from Sek 240 
    * Volkswagen  VOWG_p.DE : Berenberg starts with buy rating; target price 230 euros 
    * Lafarge  LAFP.PA : Credit Suisse, Citigroup, Exane cut price target on the stock 
       
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.   
     
    * ABB  ABBN.VX : Morgan Stanley ups target to Sfr 20.30 from Sfr 19.10; rating underweight 
    * ABB  ABBN.VX : Citigroup cuts target price to Sfr 22 from Sfr 23; rating  
    * Air France KLM  AIRF.PA : RBC raises to outperform from sector perform 
    * Air France KLM  AIRF.PA : HSBC cuts target to 7.25 euros from 7.50 euros; rating neutral 
    * Air France KLM  AIRF.PA : Investec cuts target to 6 euros from 7.20 euros; rating sell 
    * Air France KLM  AIRF.PA : Credit Suisse cuts target to 6.10 euros from 8.10 euros 
    * Analytik Jena  AJAG.DE : ESN/Equinet Bank cuts to hold from buy 
    * Analytik Jena  AJAG.DE : ESN/Equinet Bank cuts target price to 14 euros from 15 euros 
    * Ansaldo STS SpA  STS.MI : Natixis ups target to 7.4 euros from 7.1 euros; rating neutral 
    * ASML Holding  ASML.AS : Credit Suisse assumes coverage with outperform rating 
    * Atresmedia  A3M.MC : Exane ups target to 6.2 euros from 5.7 euros; rating underperform 
    * Aviva Plc  AV.L : Panmure raises target price to 380p from 340p; rating hold  
    * Axa SA  AXAF.PA : JP Morgan raises target to 14 euros from 12 euros; rating underweight 
    * Axel Springer  SPRGn.DE : HSBC raises to overweight from neutral 
    * Axel Springer  SPRGn.DE : HSBC raises target price to 47 euros from 37 euros 
    * Banco Popular  POP.MC : Natixis raises target price to 3.5 euros from 3.2 euros 
    * Basf SE  BASFn.DE : Commerzbank cuts target price to 78 euros from 83 euros 
    * Bekaert  BEKB.BR : Exane raises target price to 21 euros from 18 euros; rating neutral   
    * Belgacom  BCOM.BR : Exane raises target price to 19 euros from 18 euros; ratingneutral 
    * BIC  BICP.PA : Natixis cuts to neutral from buy; target to 85 euros from 90 euros 
    * BMW  BMWG.DE : HSBC cuts target price to 79 euros from 82 euros; rating neutral 
    * British Sky Broadcasting  BSY.L : Westhouse Securities raises target to 934p from 894p 
    * Burberry  BRBY.L : Exane raises target price to 1670p from 1590p; rating neutral  
    * Cap Gemini SA  CAPP.PA : JP Morgan ups target to 42 euros from 40.60 euros; rating neutral 
    * Centamin  CEY.L : Davy research raises to neutral from underperform 
    * Centamin  CEY.L : Davy research cuts price target to 44p from 47p 
    * Christian Dior  DIOR.PA : UBS ups target to 135 euros from 125 euros; rating neutral 
    * Christian Dior  DIOR.PA : Natixis ups target to 154 euros from 142 euros; rating buy 
    * CNP Assurances  CNPP.PA : JP Morgan raises target to 16.40 euros from 15.10 euros 
    * CNP Assurances  CNPP.PA : Nomura cuts target to 13.90 from 15.20 euros; rating neutral 
    * Compass Group  CPG.L : Morgan Stanley raises target to 900p from 830p; rating equal weight 
    * Cranswick Plc  CWK.L : Investec raises target price to 1230p from 1190p; rating buy 
    * Credit Agricole  CAGR.PA : JP Morgan cuts to neutral from overweight 
    * Dassault Systemes  DAST.PA : UBS ups target to 100 euros from 96 euros; rating neutral 
    * Faurecia  EPED.PA : JP Morgan ups target to 20 euros from 13.50 euros; rating neutral 
    * Faurecia  EPED.PA : HSBC cuts target price to 21 euros from 22 euros; rating 
    * Fidessa  FDSA.L : Canaccord Genuity raises target price to 1850p from 1650p; rating hold 
    * Fidessa  FDSA.L : Jefferies raises target price to 2450p from 1690p; rating buy  
    * Fidessa  FDSA.L : Finncap raises target price to 2200p from 1900p; rating  
    * Fidessa  FDSA.L : Panmure raises target price to 1483p from 1480p; rating hold 
    * Freni Brembo  BRBI.MI : UBS raises target price to 17 euros from 13 euros; rating buy 
    * F Secure  FSC1V.HE : ESN/Pohjola cuts to reduce from accumulate 
    * F Secure  FSC1V.HE : ESN/Pohjola cuts target price to 1.50 euro from 1.90 euro 
    * Galenica  GALN.S : UBS drops from most preferred list; rating neutral  
    * Getinge  GETIb.ST : UBS drops from least preferred list; rating neutral 
    * Hennes & Mauritz  HMb.ST : Deutsche Bank raises to buy from hold 
    * Hennes & Mauritz  HMb.ST : Deutsche Bank raises price target to Sek 275 from Sek 240 
    * Hermes  HRMS.PA : Exane raises target price to 310 euros from 295 euros; rating neutral  
    * Homeserve PLC  HSV.L : UBS raises target price to 270p from 215p; rating neutral 
    * Ipsos SA  ISOS.PA : Exane cuts target price to 32 euros from 34 euros; rating outperform 
    * Japan Residential Investment  JRIC.L : Liberum raises target to 70p from 66p; rating buy 
    * Jardine Lloyd Thompson  JLT.L : Panmure ups target price to 810p from 760p; rating sell  
    * J D Wetherspoon  JDW.L :Morgan Stanley raises target to 710p from 580p;rating equal weight 
    * Julius Baer  BAER.VX : Berenberg raises to hold from sell 
    * Keller Group  KLR.L : Jefferies raises target price to 1300p from 1200p; rating buy 
    * Kering SA  PRTP.PA : Exane BNP Paribas cuts to neutral from outperform 
    * Krka dd  KRKG.LJ : Jefferies raises target price to 57 euros from 54 euros; rating hold 
    * Lafarge  LAFP.PA : Credit Suisse cuts target to 63 euros from 71 euros; rating outperform 
    * Lafarge  LAFP.PA : Citigroup cuts target price to 58 euros from 59 euros; rating buy 
    * Lafarge  LAFP.PA : Exane cuts target price to 58 euros from 62 euros; ratingoutperform 
    * Lancashire  LRE.L : JP Morgan cuts target price to 806p from 832p; rating neutral 
    * Lonza Group  LONN.VX : Jefferies raises target to Sfr 75 from Sfr 63; rating hold 
    * LVMH  LVMH.PA : Exane raises target price to 150 euros from 145euros; rating neutral 
    * Mapfre  MAP.MC : JP Morgan cuts target to 2.13 euros from 2.15 euros; rating underweight 
    * Marston's PLC  MARS.L : Jefferies cuts to hold from buy; raises target to 155p from 150p 
    * Mersen SA  CBLP.PA : SocGen cuts target price to 26 euros from 29 euros; rating buy 
    * Mersen SA  CBLP.PA : Natixis cuts target price to 23 euros from 26 euros; rating buy 
    * Metso  MEO1V.HE : Exane cuts target price to 30 euros from 32 euros; ratingoutperform 
    * Nexans SA  NEXS.PA : HSBC raises target price to 48 euros from 47 euros; rating overweight 
    * Nyrstar  NYR.BR : Citigroup cuts target price to 2.80 euros from 3 euros; rating sell  
    * Panalpina  PWTN.S : Nomura raises target price to Sfr 90 from Sfr 65; rating reduce 
    * Panalpina  PWTN.S : Credit Suisse raises target to Sfr 103 from Sfr 77;rating underperform 
    * Pearson  PSON.L : SocGen raises target price to 1100p from 1040p; rating sell 
    * Pearson  PSON.L : Exane raises target price to 1530p from 1430p; rating outperform 
    * Piaggio  PIA.MI : Citigroup cuts target price to 2.20 euros from 2.30 euros; rating  
    * PKC Group Oyj  PKC1V.HE : ESN/Pohjola cuts to hold from accumulate 
    * Prosegur Compania de Seguridad  PSG.MC : UBS cuts target to 4 from 4.6 euros 
    * Prosegur Compania de Seguridad  PSG.MC : JP Morgan cuts target to 4.42 from 4.56 euros 
    * Publicis Groupe  PUBP.PA : BofA Merrill raises to buy from neutral 
    * Publicis Groupe  PUBP.PA : BofA Merrill raises price target to 72 euros from 60 euros 
    * PZ Cussons PLC  PZC.L : Numis raises target price to 402p; rating hold 
    * Renault SA  RENA.PA : Citigroup adds to focus list Europe 
    * Renault SA  RENA.PA : Citigroup cuts target price to 73 euros from 69 euros; rating buy 
    * Renault SA  RENA.PA : Commerzbank ups target to 63 euros from 46 euros; rating hold  
    * Rexel SA  RXL.PA : SocGen raises target price to 18.5 euros from 18 euros; rating hold 
    * Rexel SA  RXL.PA : Morgan Stanley ups target to 20.9 euros from 19 euros;rating overweight 
    * Rexel SA  RXL.PA : Berenberg cuts to hold from buy 
    * Rexel SA  RXL.PA : JP Morgan ups target to 21 euros from 20 euros; rating overweight 
    * Rexel SA  RXL.PA : Natixis cuts to neutral from buy 
    * Rexel SA  RXL.PA : Natixis cuts target price to 17 euros from 18.5 euros 
    * Richemont  CFR.VX : Exane ups target to Sfr 110 from Sfr 100; rating outperform 
    * Rolls-Royce  RR.L : Liberum raises target price to 1340p; rating buy 
    * RSA Insurance  RSA.L : Panmure raises target price to 117p from110p; rating sell 
    * RusPetro PLC  RPO.L : RBC raises target price to 60p from 40p; rating sector perform 
    * SABMiller  SAB.L : HSBC cuts target price to 3400p from 3700p; rating neutral 
    * Safran SA  SAF.PA : RBC raises target price to 52 euros from 47 euros; rating outperform 
    * Safran SA  SAF.PA : Exane raises target price to 40 euros from 37 euros; ratingneutral 
    * SBM Offshore  SBMO.AS : Morgan Stanley raises to equal weight from underweight 
    * SBM Offshore  SBMO.AS : Morgan Stanley raises target price to 16.50euros from 15 euros 
    * SEB  SEBF.PA : HSBC raises target price to 71 euros from 68.50 eursos; rating overweight 
    * SES SA  SESFg.LU : Natixis raises to neutral from reduce 
    * SIAS  SIS.MI : ESN/Banca Akros raises to buy from accumulate 
    * Stockmann Oyj  STCBV.HE : ESN/Pohjola cuts to reduce from hold 
    * Stockmann Oyj  STCBV.HE : ESN/Pohjola cuts target price to 11 euros from 12 euros 
    * Software AG  SOWG.DE : Natixis cuts price target to 26 euros from 27 euros 
    * Software AG  SOWG.DE : Exane cuts target price to 31 euros from 37 euros; ratingoutperform 
    * Swatch Group  UHR.VX : Exane ups target to Sfr 735 from Sfr 710; rating outperform  
    * Syngenta AG  SYNN.VX : Exane cuts target price to Sfr 371 from Sfr 383; rating neutral 
    * Television Francaise 1 SA  TFFP.PA : HSBC cuts to underweight from neutral 
    * Thales SA  TCFP.PA : UBS raises target price to 39 euros from 33 euros; rating neutral 
    * Thomas Cook  TCG.L : Exane BNP Paribas resumes with outperform; target price 180p 
    * Tullow Oil  TLW.L : JP Morgan cuts target price to 1260p from 1500p; rating overweight 
    * Tullow Oil  TLW.L : Investec cuts target price to 910p from 930p; rating sell 
    * Uralkali  URKAq.L : JP Morgan cuts target price to $30 from $37; ratingneutral 
    * USG People  USGP.AS : ING raises target price to 5.75 euros from 5.50 euros; rating hold 
    * USG People  USGP.AS : Natixis cuts target price to 7 euros from 8 euros; rating buy 
    * Vectura  VEC.L : Investec raises target price to 111p from 107p; rating buy 
    * Vectura  VEC.L : Finncap raises price target to 140p; rating buy 
    * Vivendi SA  VIV.PA : HSBC raises target price to 18 euros from 17 euros; rating  
    * Volkswagen  VOWG_p.DE : Berenberg starts with buy rating; target price 230 euros 
    * WPP Plc  WPP.L : UBS raises to buy from neutral; target price to 1300p from 1080p 
    * XP Power Ltd  XPP.L : Investec raises target price to 1440p from 1375p; rating buy 
    * Ziggo  ZIGGO.AS : Pivotal Research starts with buy rating; target price 35 euros 
     
    SECTOR CHANGES 
     
    * UK equities: Nomura cuts to underweight from neutral    
 
 (Compiled by Saqib Iqbal Ahmed and Rachel Chitra 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/