EUROPE RESEARCH ROUNDUP: GlaxoSmithKline, Merck, Volvo, Erste Group
27/01/2014 14:45
Jan 27 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including Merck and Smith & Nephew, on Monday.
HIGHLIGHTS
* Merck KGaA MRCG.DE : SocGen cuts to sell from hold; target to 121 euros from 130 euros
* Smith & Nephew SN.L : UBS raises to buy from neutral
* Prosiebensat 1 Media PSMGn.DE : Citigroup cuts to sell from neutral
* Erste Group ERST.VI : UBS cuts to neutral from buy; target to 29 euros from 28 euros
* EasyJet EZJ.L : HSBC cuts to underweight from neutral; price target to 1600p from 1375p
Following is a summary of research actions on European companies reported by Reuters on Monday.
Stock entries are in alphabetical order.
* AB Science ABS.PA : SocGen cuts target price to 11.5 euros from 18.1 euros; rating hold
* Accor ACCP.PA : Barclays raises target to 40 euros from 37 euros; rating overweight
* Accor ACCP.PA : Morgan Stanley ups target to 37 euros from 35 euros; rating overweight
* Aegon AEGN.AS : Credit Suisse raises target to 7.10 euros from 7 euros; rating neutral
* Andritz AG ANDR.VI : Erste Group raises to buy from hold
* Amino Technologies AMO.L : Finncap raises target price to 133p from 120p
* Anheuser-Busch ABI.BR : Nomura raises target to 76 euros from 75 euros; rating neutral
* Antena 3 A3TV.MC : Citigroup raises target to 13.90 euros from 8.40 euros; neutral
* Atresmedia A3M.MC : Barclays cuts to underweight from equal weight
* AVEVA Group AVV.L : Panmure cuts target price to 2195p from 2286p; rating hold
* Axel Springer SPRGn.DE : Barclays ups target to 54 euros from 49.75 euros; overweight
* Banco Popolare BAPO.MI : HSBC cuts to underweight from neutral
* Banco Popolare BAPO.MI : HSBC cuts price target to 1.44 euros from 1.47 euros
* Banco Popolare BAPO.MI : Nomura cuts target to 1.50 euros from 1.60 euros; rating reduce
* Bank of Ireland BKIR.I : Nomura cuts to neutral from buy
* Banco Popolare BAPO.MI : Natixis cuts target to 1.5 euro from 1.7 euro; rating neutral
* Banco Popolare BAPO.MI : Exane cuts target by 17 pct to 1.50 euros; outperform
* Beni Stabili BNSI.MI : Goldman Sachs cuts to sell from neutral
* Big Yellow BYG.L : Goldman Sachs adds to conviction list; maintains rating buy
* Biotest BIOG.DE : ESN/Equinet cuts to hold from buy
* Biotest BIOG.DE : ESN/Equinet raises price target to 82.50 euros from 70 euros
* Boiron SA BOIR.PA : SocGen raises target price to 57 euros from 53 euros; rating buy
* British Land BLND.L : Goldman Sachs raises to buy from neutral
* CA IMMO CAIV.VI : Goldman Sachs raises to buy from neutral
* Cairn Energy CNE.L : UBS cuts target price to 250p from 270p; rating neutral
* Cairn Energy CNE.L : Exane BNP Paribas cuts target by 5 pct to 318p; rating outperform
* Celesio CLSGn.DE : Deutsche Bank raises to hold from sell
* Celesio CLSGn.DE : Deutsche Bank raises price target to 23.5 euros from 17 euros
* Close Brothers Group CBRO.L : JP Morgan ups target to 1357p from 1242p; overweight
* Cofinimmo COFB.BR : Goldman Sachs cuts to sell from neutral
* Daily Mail & General DMGOa.L : Barclays ups target to 1015p from 890p; equal weight
* Daily Mail & General DMGOa.L : Citigroup raises target to 1180p from 1040p; rating buy
* Deutsche Post DPWGn.DE : Citigroup raises target to 30 euros from 24 euros; rating buy
* easyJet EZJ.L : HSBC cuts to underweight from neutral
* easyJet EZJ.L : HSBC raises price target to 1600p from 1375p
* Edenred EDEN.PA : Exane BNP Paribas cuts target by 6 pct to 25.5 euros; outperform
* Erste Group ERST.VI : UBS cuts to neutral from buy
* Erste Group ERST.VI : UBS raises price target to 29 euros from 28 euros
* Eurocommercial SIPFc.AS : Goldman Sachs raises to buy from neutral
* Eutelsat Communications ETL.PA : Barclays cuts target to 22.75 euros from 24.50 euros
* Faroe Petroleum FPM.L : Credit Suisse cuts target by 9p to 119p; rating underperform
* GAM Holding GAMH.S : UBS cuts price target to Sfr 18.20 from Sfr 19; rating buy
* Gecina GFCP.PA : Goldman Sachs cuts to sell from neutral
* GfK SE GFKG.DE : HSBC raises price target to 47 euros from 45 euros; rating neutral
* Grand City Properties GYC.DE : Berenberg ups target to 9.15 euros from 8.20 euros; buy
* Groupe Eurotunnel GETP.PA : HSBC ups target to 9.9 euros from 7 euros; rating overweight
* Globaltrans Investment GLTRq.L : UBS cuts To neutral from buy
* Hansard Global HSD.L : Panmure cuts target price to 130p from 162p; rating buy
* IG Group Holdings IGG.L : Goldman Sachs cuts to neutral from buy
* IG Group Holdings IGG.L : Goldman Sachs cuts target price to 725p from 735p
* Informa INF.L : Barclays cuts to equal weight from overweight; target to 580p from 610p
* Interroll INRN.S : Helvea cuts to hold; raises price target to Sfr 550
* Intu INTUP.L : Goldman raises to neutral from sell
* ITV Plc ITV.L : Barclays raises target to 210p from 190p euros; rating equal weight
* ITV Plc ITV.L : Citigroup cuts to sell from neutral
* JCDecaux JCDX.PA : Barclays ups target to 30.50 euros from 28 euros; rating equal weight
* JCDecaux JCDX.PA : Citigroup raises target to 37.40 euros from 33.70 euros; rating buy
* Lagardere LAGA.PA : Barclays ups target to 31 euros from 28.50 euros;rating overweight
* Lagardere LAGA.PA : Citigroup ups target to 28.60 euros from 24.20 euros; rating neutral
* Land Securities Group LAND.L : Goldman Sachs raises to buy from neutral
* Lanxess LXSG.DE : BofA Merrill raises to buy from neutral
* Logitech International LOGN.S : Credit Suisse ups target to Sfr 15 from Sfr 8; neutral
* London Stock Exchange LSE.L : Barclays ups target to 2200p from 1800p; rating overweight
* London Stock Exchange LSE.L : Numis raises target price to 1690p from 1477p; rating hold
* Lonza LONN.VX : Deutsche Bank raises price target to Sfr 85 from Sfr 75
* Luxottica Group LUX.MI : BofA Merrill raises to buy from neutral
* M6 MMTP.PA : Citigroup raises target to 17.30 euros from 14.25 euros; rating neutral
* Mapfre MAP.MC : JP Morgan ups target to 2.64 euros from 2.13 euros; rating underweight
* Mediaset Espana TL5.MC : Barclays target to 8 euros from 6.50 euros; rating underweight
* Merck KGaA MRCG.DE : SocGen cuts to sell from hold
* Merck KGaA MRCG.DE : SocGen cuts target price to 121 euros from 130 euros
* Mikron MIKN.S : Vontobel raises price target to Sfr 7 from Sfr 5.8; rating hold
* Modern Times MTGB.ST : Barclays cuts target to Sek 395 from Sek 420; rating overweight
* Moscow Exchange MOEX.MM :Credit Suisse ups target to 67 roubles from 55 roubles; neutral
* Nokia NOK1V.HE : Credit Suisse cuts target to 7 euros from 7.25 euros; rating outperform
* Novozymes NZYMb.CO : Jefferies raises price target to Dkk 215 from Dkk 195; rating hold
* Novo Nordisk NOVOb.CO : Citigroup raises target to Dkk 280 from Dkk 230; rating buy
* Pearson PSON.L : Barclays cuts target price to 1180p from 1225p; rating equal weight
* Pearson PSON.L : Citigroup raises to buy from neutral
* Pearson PSON.L : JP Morgan cuts to neutral from overweight
* Pearson PSON.L : JP Morgan cuts price target to 1250p from 1490p
* Prosiebensat 1 Media PSMGn.DE : Citigroup cuts to sell from neutral
* PSP PSPN.S : Goldman raises to neutral from sell
* Publicis Groupe PUBP.PA : Barclays ups target to 77 euros from 67 euros; overweight
* Reed Elsevier Plc REL.L : Barclays raises target to 1025p from 965p; rating overweight
* Reed Elsevier Plc REL.L : Citigroup raises target price to 1100p from 950p; rating buy
* Reed Elsevier ELSN.AS : Barclays ups target to 19.15 euros from 17.90 euros; overweight
* Reed Elsevier ELSN.AS : Citigroup raises target to 20.80 euros from 17 euros; rating buy
* Renault RENA.PA : SocGen raises target price to 79 euros from 76 euros; rating buy
* Rightmove RMV.L : Citigroup raises price target to 3485p from 3000p; rating buy
* Royal DSM DSMN.AS : Jefferies cuts price target to 65 euros from 71 euros; rating buy
* RTL AUDK.LU : Citigroup cuts to neutral from buy
* Schibsted SBST.OL : Barclays starts with underweight rating; target Nok 350
* Schibsted SBST.OL : Citigroup cuts to neutral from buy
* Semperit AG Holding SMPV.VI : HSBC starts with overweight; price target 46 euros
* SES SESFd.PA : Barclays raises to overweight from underweight
* Shire SHP.L : Morgan Stanley resumes coverage with overweight; price target 370p
* SHW SW1.DE : Deutsche Bank raises price target to 58 euros from 39 euros
* SES SESFd.PA : Barclays raises target to 26.50 euros from 21.70 euros
* Sligro Food Group SLIGR.AS : ING raises to hold from sell
* Sligro Food Group SLIGR.AS : ING raises price target to 27.50 euros from 24.20 euros
* Shaftesbury Shb.L : Goldman raises to neutral from sell
* SMA Solar Technology S92G.DE : Citigroup raises to neutral from sell
* SMA Solar Technology S92G.DE : Citigroup raises target to 31 euros from 26 euros
* Smiths Group SMIN.L : Exane BNP Paribas cuts to neutral from outperform
* Smiths Group SMIN.L : Exane BNP Paribas cuts price target by 3 percent to 1475p
* Smith & Nephew PLC SN.L : UBS raises to buy from neutral
* Smith & Nephew PLC SN.L : UBS raises price target to 1000p from 780p
* Sky Deutschland SKYDn.DE : Citigroup ups target to 8.50 euros from 7.50 euros; buy
* Solocal Group LOCAL.PA : Barclays cuts target to 1.05 euros from 1.60 euros; underweight
* Stroeer SAXG.DE : Citigroup ups target to 16 euros from 11.30 euros; rating neutral
* TDC A/S TDC.CO : Jefferies raises price target to Dkk 50; rating hold
* Telefonica TEF.MC : Jefferies ups target to 9.60 from 8.60 euros; rating underperform
* Tele2 AB TEL2B.ST : Jefferies cuts to hold from buy; cuts price target to Sek 78
* Teliasonera TLSN.ST : Jefferies raises price target to Sek 39.80; rating underperform
* Trinity Mirror TNI.L : Barclays raises target to 190p from 150p; rating equal weight
* UBM Plc UBM.L : Barclays raises target price to 795p from 755p; rating overweight
* UBM UBM.L : Citigroup cuts target price to 820P from 850P; rating buy
* Vallourec VLLP.PA : Citigroup cuts target price to 43 euros from 45 euros; neutral
* Vallourec VLLP.PA : Natixis cuts target to 36.2 euros from 40 euros; rating neutral
* Vastned VASN.AS : Goldman Sachs cuts to sell from neutral
* Vienna Airport VIEV.VI : Erste Group cuts to hold from accumulate
* Vienna Airport VIEV.VI : Erste Group raises price target to 65 euros from 51 euros
* Volvo VOLVb.ST : UBS cuts price target to Sek 85 from Sek 90; rating neutral
* Voestalpine VOES.VI : Credit Suisse ups target to 38 euros from 27 euros; rating neutral
* Vranken Pommery VRKP.PA : Barclays ups target to 25 euros from 23.50 euros; equalweight
* Wolf Minerals WLFE.L : Numis starts with buy; price target 30p
* Wolters Kluwer WLSNc.AS : Citigroup ups target to 22.90 euros from 18.50; rating neutral
* Ziggo ZIGGO.AS : Pivotal Research cuts to hold from buy
* Ziggo ZIGGO.AS : Barclays raises target to 33 euros from 31 euros; rating equal weight
* Zon Optimus SGPS ZONOP.LS : Jefferies cuts to hold from buy
* Zon Optimus SGPS ZONOP.LS : Jefferies raises price target to 4.90 euros from 4.15 euros
(Compiled by Archana Lakshmi Narasiah in Bangalore)
((archana.narasiah@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. + 91 80 6677
1190)(Reuters messaging:archana.narasiah.thomsonreuters.com@reuters.net))
Keywords: RESEARCH EUROPE/