EUROPE RESEARCH ROUNDUP: Volvo, Puma, EasyJet, Iberdrola
25/07/2013 15:04
July 25 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including Volvo, Puma and EasyJet, on Thursday.
HIGHLIGHTS
* EasyJet EZJ.L : Panmure, HSBC, Citigroup, Jefferies and UBS raise price target
* BBA Aviation BBA.L : Westhouse Securities raises to add from neutral
* Volvo AB VOLVb.ST : UBS cuts to neutral from buy
* Puma SE PUMG.DE : JP Morgan, Raymond James, UBS cut target price on the stock
* Iberdrola SA IBE.MC : S&P Capital IQ cuts to sell; target to 3.34 euros from 4.11 euros
Following is a summary of research actions on European companies reported by Reuters on
Thursday. Stock entries are in alphabetical order. See bottom of the table for sector changes.
* A.G.Barr PLC BAG.L : Investec raises target price to 585p from 581p; rating add
* A.G.Barr PLC BAG.L : SocGen raises price target to 560p from 530p; rating hold
* Alstom ALSO.PA : Exane BNP Paribas cuts target by 3 percent to 28 euros; rating neutral
* Alstom ALSO.PA : Natixis raises target price to 34 euros from 33 euros; rating buy
* Anglo American AAL.L : JP Morgan cuts target price to 1,675p from 1,820p; rating neutral
* Anglo Platinum Ltd AMSJ.J : HSBC starts with overweight; target price 510 rands
* Aquarius Platinum Ltd AQP.L : HSBC starts with overweight; target price 235p
* ARM Holdings ARM.L : UBS removes from European key calls list
* ARM Holdings ARMH.O : Benchmark raises price target to $48 from $45; ratingbuy
* Atos SE ATOS.PA : SocGen cuts price target to 75 euros from 78 euros; rating buy
* AZ Electronic Materials AZEM.L : Deutsche Bank cuts to hold from buy
* BBA Aviation BBA.L : Westhouse Securities raises to add from neutral
* BBA Aviation BBA.L : Westhouse Securities raises target price to 320p form 250p
* Bodycote PLC BOY.L : Investec raises price target to 660p from 600p; rating buy
* Bouygues SA BOUY.PA : Morgan Stanley raises target price to 31.60 euros from 28.80 euros
* Britvic BVIC.L : Investec cuts to hold from buy; target price to 516p from 545p
* BT BT.L : S&P Capital raises price target to 370p from 310p; rating hold
* Buzzi Unicem BZU.MI : Bernstein cuts target price to 12.60 euros from 12.70 euros
* Capita CPI.L : S&P Capital IQ raises target price to 1300p from 1200p; rating strong buy
* Cementos Portland CPLN.MC : Exane BNP Paribas cuts price target by 17 percent to 3 euros
* Clinigen Group CLINC.L : Numis raises price target to 430p from 340p; rating buy
* Commerzbank AG CBKG.DE : UBS starts with neutral; price target 6.90 euros
* Commerzbank AG CBKG.DE :JP Morgan raises target to 8.87 euros from 8.74 euros
* Compass Group PLC CPG.L : HSBC raises target price to 760p from 700p; rating underweight
* CRH CRH.I : Bernstein raises target to 16.10 euros from 16 euros; rating market perform
* CRH CRH.L : Bernstein raises target to 1386.14p from 1377.53p; rating market perform
* Croda International CRDA.L : Numis cuts target price to 2493p from 2537p; rating hold
* CSR PLC CSR.L : Numis raises price target to 800p from 625p; rating buy
* Daimler DAIGn.DE : Commerzbank raises target price to 64 euros from 60 euros; rating buy
* Daimler DAIGn.F : UBS removes from key calls list
* Daimler DAIGn.DE : JP Morgan raises target to 61 euros from 53 euros; rating overweight
* Daimler DAIGn.DE : S&P Capital IQ raises to hold from sell
* Daimler DAIGn.DE : S&P Capital IQ raises target price to 56 euros from 48 euros
* Dassault Systemes DAST.PA : S&P Capital IQ raises target to 120 euros from 100 euros; buy
* Deutsche Post AG DPWGn.DE : Credit Suisse raises target to 24.45 euros from 21.75 euros
* Devro PLC DVO.L : JP Morgan starts with overweight; target price 354p
* EasyJet EZJ.L : HSBC raises target price to 1470p from 1450p; rating neutral
* EasyJet EZJ.L : Panmure raises price target to 1500p from 1400p; rating buy
* EasyJet EZJ.L : Citigroup raises target price to 1600p from 1450p; rating buy
* EasyJet EZJ.L : Jefferies raises target price to 1470p from 1420p; rating hold
* EasyJet EZJ.L : UBS raises price target to 1560p from 1380p; rating buy
* EFG International EFGN.S : Nomura raises target to Sfr 12.50 from Sfr 11; rating reduce
* EFG International AG EFGN.S : UBS cuts price target to Sfr 14.50 from Sfr 15; rating buy
* Erste Group Bank ERST.VI : SocGen cuts target to 26.30 euros from 28 euros; rating buy
* Euler Hermes ELER.PA : Exane BNP Paribas raises price target by 16 percent to 81 euros
* Euromoney Institutional Investor ERM.L : Westhouse Securities cuts to sell from neutral
* Faes Farma FAE.MC : Exane BNP Paribas cuts price target by 3 percent to 1.55 euros
* Findel PLC FDL.L : JP Morgan raises target price to 161p from 144p; rating underweight
* Fresenius Medical Care FMEG.DE : Berenberg cuts target to 58 euros from 66 euros
* G4S PLC GFS.L : UBS cuts price target to 230p from 240p; rating neutral
* Gamesa Corporacion Tecnologica GAM.MC : HSBC raises target to 5 euros from 4.15 euros
* Groupe Crit CITT.PA : Natixis raises target price to 22 euros from 20 euros; rating buy
* Halma PLC HLMA.L : Investec raises price target to 600p from 550p; rating buy
* Holcim HOLN.VX : Bernstien cuts target price to sfr 91 from sfr 93; rating outperform
* Howden Joinery Group HWDN.L : Numis raises target price to 325p from 265p; rating add
* Iberdrola SA IBE.MC : Citigroup cuts target to 3.80 euros from 3.90 euros; rating neutral
* Iberdrola SA IBE.MC : S&P Capital IQ cuts to sell from hold
* Iberdrola SA IBE.MC : S&P Capital IQ cuts price target to 3.34 euros from 4.11 euros
* Icade SA ICAD.PA : Natixis raises target price to 82 euros from 80.5 euros; rating buy
* Impala Platinum Holdings Ltd IMPJ.J : HSBC starts with overweight; target price 200 rands
* Indesit Company IND.MI : Exane BNP Paribas cuts target by 7 percent to 5 euros
* Invensys PLC ISYS.L : SocGen cuts to hold from buy; raises target price to 500p from 445p
* ISG PLC ISG.L : WH Ireland starts with buy rating; price target of 225p
* J D Wetherspoon JDW.L : Jefferies raises target price to 850p from 600p; rating buy
* J D Wetherspoon JDW.L : JP Morgan raises to neutral from underweight
* J D Wetherspoon JDW.L : JP Morgan raises target to 725p from 520p
* J D Wetherspoon PLC JDW.L : HSBC raises target price to 740p from 700p; rating neutral
* Julius Baer BAER.VX : Helvea raises price target to Sfr 43 from Sfr 40.5; rating neutral
* Kingfisher PLC KGF.L : Citigroup raises target price to 455p from 385p; rating buy
* Kingfisher PLC KGF.L : HSBC raises target price to 450p from 395p; rating overweight
* Kingfisher PLC KGF.L : Natixis raises target price to 400p from 300p; rating neutral
* Kone Corp KNEBV.HE : JP Morgan raises target price to 48.50 euros from 42.50 euros
* Krones AG KRNG.DE : ESN/Equinet Bank raises to accumulate from sell
* Krones AG KRNG.DE : ESN/Equinet Bank raises target price to 71 euros from 48 euros
* Lafarge LAFP.PA : Bernstien cuts target to 53 euros from 56 euros; rating market perform
* Leonteq AG LEON.S : Credit Suisse raises target to Sfr 80 from Sfr 58; rating outperform
* Lisi SA GFII.PA : SocGen raises price target to 98 euros from 83 euros; rating hold
* Lonmin Plc LMI.L : HSBC starts with overweight; target price 475p
* Lonmin PLC LMI.L : Deutsche Bank raises price target to 340p from 325p; rating hold
* Lonmin PLC LMI.L : Westhouse raises price target to 285p from 265p; rating neutral
* M6 MMTP.PA : Morgan Stanley raises target to 13.70 euros from 12.50 euros
* Mattioli Woods PLC MTWL.L : N+1 Singer starts with buy rating; price target of 335p
* Mediaset Espana TL5.MC : Berenberg raises target to 7.10 euros from 5.30 euros; hold
* Mediaset Espana TL5.MC : Natixis raises target to 4.5 euros from 4 euros; rating reduce
* Mediaset Espana TL5.MC : Nomura raises target to 5 euros from 4 euros; rating reduce
* Mobistar MSTAR.BR : ING cuts to sell from hold; cuts target to 10 euros from 16 euros
* Morgan Advanced Materials MGAMM.L : Jefferies raises to buy from hold
* Morgan Advanced Materials MGAMM.L : Jefferies raises target price to 345p from 320p
* Morgan Advanced Materials MGAMM.L : JP Morgan raises target price to 335p from 325p
* MTU MTXGn.DE : SocGen cuts price target to 77 euros from 84 euros; rating buy
* MTU Aero Engines MTXGn.DE : Commerzbank cuts target to 81 euros from 83 euros; rating buy
* MTU Aero Engines MTXGn.DE : Exane BNP Paribas cuts price target by 13 percent to 62 euros
* MTU Aero Engines MTXGn.DE : HSBC cuts target to 73 euros from 80 euros; rating neutral
* MTU Aero Engines MTXGn.DE : JP Morgan cuts to neutral from overweight
* MTU Aero Engines MTXGn.DE : JP Morgan cuts target price to 79 euros from 99 euros
* MTU Aero Engines MTXGn.DE : Kepler cuts to hold from buy
* MTU Aero Engines MTXGn.DE : Kepler cuts price target to 68 euros from 79 euros
* National Express NEX.L : UBS raises price target to 280p from 250p; rating buy
* National Express Group NEX.L : RBC raises target to 275p from 260p; rating outperform
* National Grid PLC NG.L : HSBC raises target price to 875p from 850p; rating overweight
* Next PLC NXT.L : S&P Capital IQ raises to sell from strong sell
* Next PLC NXT.L : S&P Capital IQ raises target price to 4000p from 3700p
* Nexity SA NEXI.PA : SocGen cuts to hold from buy
* Nexity SA NEXI.PA : SocGen raises target to 32.3 euros from 30 euros
* Nichols PLC NICL.L : Panmure raises to buy from hold; target price to 1170p from 1100p
* Nichols PLC NICL.L : Canaccord Genuity cuts to hold from buy
* Northam Platinum Ltd NHMJ.J : HSBC starts with overweight; target price 70 rands
* Outokumpu OUT1V.HE : JP Morgan cuts target to 0.56 euros from 0.62 euros; rating neutral
* Outokumpu Oyj OUT1V.HE : JP Morgan cuts target to 0.56 euro from 0.62 euro;rating neutral
* Pennon Group PNN.L : HSBC cuts to neutral from overweight; target price to 760p from 775p
* Pinguin NV PIGU.BR : ESN/Bank Degroof cuts to hold from accumulate
* Plastic Omnium PLOF.PA : Natixis raises target to 54 euros from 44 euros; rating buy
* Polarcus PLCS.OL : UBS cuts price target to Nok 7.50 from Nok 9.50; rating buy
* Portugal Telecom PTC.LS : UBS cuts target to 2.95 euros from 3.80 euros; rating neutral
* Prosiebensat 1 Media PSMG_p.DE : HSBC raises target to 34 euros from 32 euros
* Provident Financial PFG.L : RBC raises target to 1700p from 1600p; rating sector perform
* Puma SE PUMG.DE : JP Morgan cuts target price to 225 euros from 228 euros; rating neutral
* Puma SE PUMG.DE : Raymond James cuts price target to 210 euros from 230 euros
* Puma SE PUMG.DE : UBS cuts target price to 220 euros from 240 euros; rating neutral
* Quindell Portfolio QPP.L : Canaccord Genuity starts with buy rating; price target of 41p
* Rolls-Royce Holdings RR.L : SocGen raises target price to 1150p from 1080p; rating sell
* SABMiller PLC SAB.L : S&P Capital IQ cuts target price to 3300p from 3610p; rating hold
* Saint Gobain SGOB.PA : S&P Capital IQ raises to hold from sell
* Saint Gobain SGOB.PA : S&P Capital IQ raises target price to 35 euros from 26 euros
* Sartorius AG SATG.DE : Commerzbank cuts to reduce from hold
* Sartorius AG SATG.DE : Commerzbank raises target price to 79 euros from 76 euros
* Sepura SEPU.L : WestHouse Securities raises target price to 145p from 135p; rating add
* Sepura PLC SEPU.L : Investec raises target price to 150p from 130p; rating buy
* Sepura PLC SEPU.L : Liberum raises price target to 142p from 130p; rating buy
* Severn Trent PLC SVT.L : HSBC cuts target price to 1780p from 1860p; rating underweight
* Smurfit Kappa SKG.I : UBS raises price target to 17.30 euros from 13.50 euros; rating buy
* Synergie SDGI.PA : Natixis raises target price to 12 euros from 11 euros; rating buy
* Syngenta AG SYNN.VX : Credit Suisse cuts target to Sfr 420 from Sfr 450;rating outperform
* Talanx AG TLXGn.DE : Berenberg raises to buy from hold
* Tate & Lyle PLC TATE.L : JP Morgan raises target to 735p from 615p; rating underweight
* Tele2 AB TEL2b.ST : HSBC cuts target price to Sek 96 from Sek 128; rating overweight
* Thales SA TCFP.PA : RBC raises target to 35 euros from 32 euros; rating underperform
* TNT Express TNTE.AS :JP Morgan raises target to 7.20 euros from 6.50 euros;rating neutral
* Transmode AB TRMO.ST : UBS raises price target to Sek 90 from Sek 82; rating neutral
* Unibail-Rodamco UNBP.AS : Berenberg raises target to 200 euros from 185 euros; rating buy
* Unibail-Rodamco UNBP.AS : S&P Capital IQ raises target to 195 euros from 192 euros; hold
* Unilever PLC ULVR.L : S&P Capital IQ cuts target price to 2980p from 3070p; rating buy
* United Utilities Group UU.L : HSBC cuts target price to 745p from 795p; rating neutral
* Victrex PLC VCTX.L : Numis raises to add from hold
* Vivendi VIV.PA : Barclays raises target to 18 euros from 17.50 euros; rating equalweight
* Volvo AB VOLVb.ST : Baird raises price target to Sek 115 from Sek 107; rating outperform
* Volvo AB VOLVb.ST : JP Morgan raises target price to Sek 115 from Sek 96; rating neutral
* Volvo AB VOLVb.ST : Natixis raises target price to Sek 119 from Sek 116; rating buy
* Volvo AB VOLVb.ST : Nordea Markets raises target to Sek 115 from Sek 105; rating buy
* Volvo AB VOLVb.ST : UBS cuts to neutral from buy
* Weir Group PLC WEIR.L : HSBC cuts target price to 2350p from 2500p; rating neutral
* Workspace WKP.L : Investec raises price target to 500p from 415p; rating buy
* ZON ZON.LS : UBS raises price target to 4.60 euros from 4 euros; rating buy
(Compiled by Aditi Shrivastava and Saqib Iqbal Ahmed)
((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/