Europe Research Roundup: Allianz, United Utilities, Nobel Biocare

Muehlbauer Holding AG

27/08/2014 16:27

Aug 27 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Nobel Biocare, Agfa and OTP, on Wednesday.  
     
    HIGHLIGHTS 
    * Allianz  ALVG.DE : Morgan Stanley, Barclays raise target price on the stock 
    * Arcadis  ARDS.AS : ING raises to buy from hold 
    * United Utilities  UU.L : RBC cuts to sector perform rating; price target to 890p from 870p 
    * Nobel Biocare  NOBN.S : Jefferies cuts to underperform from hold; target to Sfr 13.50  
    * OTP  OTPB.BU : Barclays raises to equal weight from underweight; cuts target to Huf 4230  
    * Agfa  AGFB.BR : KBC raises to hold from reduce 
     
Following is a summary of research actions on European companies reported by Reuters on 
Wednesday. Stock entries are in alphabetical order.    
     
    * Abertis  ABE.MC : ESN/Beka Finance raises target to 16.34 euros from 15.62 euros; reduce 
    * Aedifica SA  AOO.BR : ESN/Bank Degroof raises target to 52 euros from 50 euros; hold 
    * Aegon  AEGN.AS : Morgan Stanley cuts target to 7.40 euros from 8.20 euros; overweight  
    * Agfa  AGFB.BR : KBC raises to hold from reduce 
    * Allianz  ALVG.DE : Barclays raises target to 148 euros from 144 euros; rating overweight 
    * Allianz  ALVG.DE : Morgan Stanley raises target to 137 euros from 134 euros; equal-weight 
    * Arcadis  ARDS.AS : ING raises to buy from hold 
    * Ashtead Group  AHT.L : Jefferies raises price target to 1,150p from 1,100p; rating buy 
    * Autoneum  AUTON.S : Credit Suisse cuts target to Sfr 170 from Sfr 180; rating neutral 
    * Brenntag  BNRGn.DE : UBS removes from European support services least preferred list 
    * Bunzl Plc  BNZL.L : Deutsche Bank raises target price to 1,565p from 1,508p; rating hold 
    * Bunzl Plc  BNZL.L : RBC raises target price to 1470p from 1420p; rating underperform 
    * Buzzi Unicem  BZU.MI : UBS cuts price target to 14.3 euros from 14.7 euros; rating buy 
    * Chime Communications  CHW.L : Canaccord Genuity cuts target price to 385p from 390p; buy 
    * Chime Communications  CHW.L : Peel Hunt raises to buy from hold 
    * Easyhotel  EZH.L : Investec starts with a buy rating; 140p price target 
    * Edenred SA  EDEN.PA : Credit Suisse starts with neutral; price target 24 euros 
    * Eurazeo  EURA.PA : SocGen raises target price to 62.5 euros from 60.5 euros; rating buy 
    * Eurocash  EUR.WA : UBS cuts target price to Pln 40 from Pln 44; rating neutral 
    * Foxtons  FOXT.L : Credit Suisse cuts target price to 372p from 387p; rating outperform 
    * Grafton  GRF_u.L : Numis cuts to add from buy rating 
    * Grafton  GRF_u.L : Jefferies raises target price to 510p from 480p; rating underperform 
    * Grupa Lotos SA  LTSP.WA : ING cuts price target to Pln 32.4 from Pln 46.5; rating buy 
    * Hannover Re  HNRGn.DE : Barclays cuts target to 61 euros from 64.20 euros; equal weight 
    * Hays  HAYS.L : UBS removes from European support services most preferred list 
    * Iberdrola  IBE.MC : Berenberg raises target to 6.10 euros from 5.70 euros; rating buy 
    * Infineon  IFXGn.DE : Credit Suisse starts with outperform: target price 10.10 euros 
    * James Fisher  FSJ.L : Investec raises target price to 1500p from 1450p; rating buy 
    * Jazztel  JAZ.MC : Berenberg cuts target price to 12 euros from 13 euros; rating buy 
    * Kinepolis  KIPO.BR : ING raises to buy from hold; price target to 33 euros from 30 euros 
    * Kingspan  KSP.I : UBS raises target price to 14.30 euros from 14 euros; rating neutral 
    * Kingspan  KSP.I : Investec cuts target price to 14.10 euros from 14.90 euros; rating add 
    * Magnitogorsk  MAGNq.L : UBS raises target price to $4 from $3.40; rating buy 
    * Matomy Media  MTMY.L : Canaccord Genuity starts with buy 
    * Matomy Media  MTMY.L : Canaccord Genuity starts with target price 291p 
    * Maurel Et Prom  MAUP.PA : SocGen raises to buy from sell 
    * Maurel Et Prom  MAUP.PA : SocGen raises target price to 14 euros from 12 euros 
    * Moscow Exchange  MOEX.MM : Credit Suisse raises target to 72 roubles from 67 roubles 
    * Muehlbauer  MUBG.DE : Deutsche Bank cuts target to 18 euros from 21 euros; rating hold 
    * Munich Re  MUVGn.DE : Barclays cuts target to 158 euros from 160 euros; equal weight 
    * Naturex  NATU.PA : SocGen cuts target price to 61 euros from 69 euros; rating hold 
    * Nobel Biocare  NOBN.S : Jefferies cuts to underperform from hold 
    * Nobel Biocare  NOBN.S : Jefferies raises price target to Sfr 13.50 from Sfr 12.60 
    * Opera Software  OPERA.OL : Berenberg starts with buy; price target Nok 124 
    * OTP  OTPB.BU : Barclays raises to equal weight from underweight 
    * OTP  OTPB.BU : Barclays cuts target price to Huf 4230 from Huf 4660 
    * Outokumpu  OUT1V.HE : Evli Bank raises to accumulate rating 
    * Petrofac  PFC.L : S&P Capital IQ raises to strong buy from buy 
    * Petrofac  PFC.L : Credit Suisse cuts target price to 1340p from 1430p; rating neutral 
    * PKN Orlen  PKN.WA : ING raises to buy from hold; price target to Pln 44.2 from Pln 36 
    * PSI AG  PSAGn.DE : Deutsche Bank cuts target price to 13 euros from 15 euros; rating hold 
    * Raiffeisen Bank  RBIV.VI : ING cuts target to 20.43 euros from 25.84 euros; rating hold 
    * RWE AG  RWEG.DE : Deutsche Bank raises to hold from sell; target to 28 euros from 24 euros 
    * Schroders  SDR.L : Canaccord Genuity cuts price target to 2700p from 2800p; rating buy 
    * Severn Trent  SVT.L : RBC raises price target to 1950p from 1850p 
    * Sodexo  EXHO.PA : Credit Suisse assumes with outperform; target price euros 88 
    * Stada  STAGn.DE : Commerzbank cuts target price to 37 euros from 39 euros; rating buy 
    * STMicroelectronics  STM.PA : Credit Suisse starts with underperform; target 4.80 euros 
    * Straumann  STMN.S : Vontobel raises target price to Sfr 240 from Sfr 225; rating buy 
    * Swiss Re  SRENH.VX : Barclays cuts target to Sfr 79.20 from Sfr 79.90; rating equal weight 
    * Synthomer  SYNTS.L : Numis raises target price to 306p from 300p; rating buy 
    * Tatneft  TATNxq.L : Credit Suisse raises target price to $38 from $36; rating underperform 
    * TMK  TRMKq.L : Natixis cuts target price to $9.1 from $10.4; rating neutral 
    * United Utilities  UU.L : RBC cuts to sector perform rating; price target to 890p from 870p 
    * Vinci  SGEF.PA : Raymond James cuts target price to 54 euros from 57 euros; outperform 
    * Wetherspoon (J.D.)  JDW.L : Deutsche Bank cuts target price to 745p from 785p; rating hold 
    * WPP  WPP.L : Barclays cuts target price to 1500p from 1525p; rating overweight  
    * Zooplus AG  ZO1G.DE : Berenberg raises to buy from sell 
    * Zooplus AG  ZO1G.DE : Berenberg raises price target to 63 euros from 47.50 euros 
    * Zurich Airport  FHZN.S : Commerzbank raises target to Sfr 525 from Sfr 490; rating reduce 
 
 (Compiled by Rachel Chitra and Geetha Panchaksharam in Bangalore) 
 ((rachel.chitra@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 67496149; 
Reuters Messaging: rachel.chitra.reuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/