Europe Research Roundup: Siemens, Atlas Copco, Syngenta, Tesco

Petro Welt Technologies AG

10/11/2014 16:27

Nov 10 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Syngenta, ASOS and Tesco Plc, on Monday.  
     
     
    HIGHLIGHTS 
    * Siemens AG  SIEGn.DE : JP Morgan cuts to neutral from overweight 
    * Atlas Copco  ATCOa.ST : Deutsche Bank raises to buy from hold  
    * Syngenta  SYNN.VX : HSBC cuts to neutral from overweight; target to Sfr 335 from Sfr 350 
    * Tesco Plc  TSCO.L : Bernstein raises to outperform from market-perform 
    * ASOS  ASOS.L : Citigroup cuts to neutral from buy; raises target price to 3100p 
           
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.      
     
         
    * Abertis Infraestructuras SA  ABE.MC : RBC raises target to 17 euros; rating sector perform 
    * Accesso  ACSO.L : Numis raises price target to 730p; rating buy 
    * Adidas AG  ADSGn.DE : Deutsche Bank raises price target to 57 euros from 51 euros 
    * Admiral  ADML.L : Barclays cuts price target to 1105p from 1175p; rating underweight 
    * Admiral  ADML.L : Deutsche Bank cuts price target to 1220p from 1260p 
    * Admiral  ADML.L : Canaccord Genuity cuts target price to 1150p from 1220p; rating sell 
    * Aegon  AEGN.AS : Kepler Cheuvreux adds to Benelux and European Selected List 
    * Afarak Group Plc  AFRK.L : Investec cuts target price to 30p from 33p; rating hold 
    * Africa Oil  AOIC.ST : UBS cuts price target to Sek 45 from Sek 65  
    * Aker Solutions  AKSOL.OL : Danske Bank cuts target to Nok 38 from Nok 46; rating sell 
    * Aker Solutions  AKSOL.OL : Deutsche Bank cuts price target to Nok 53 from Nok 57 
    * Aker Solutions  AKSOL.OL : UBS cuts price target to Nok 40 from Nok 46; rating sell 
    * Alfa Laval  ALFA.ST : Deutsche Bank starts with sell; price target Sek 130 
    * Allianz  ALVG.DE : RBC raises price target to 135 euros from 130 euros;  sector perform 
    * Allianz  ALVG.DE : SocGen raises target price to 127 euros from 124 euros; rating hold 
    * Allianz  ALVG.DE : BofA Merrill cuts target price to 139 euros from 140 euros; rating buy 
    * Allianz  ALVG.DE : Commerzbank raises target price to 156 euros from 154 euros; rating buy 
    * Allianz  ALVG.DE : Berenberg raises price target to 155 euros from 148 euros; rating buy 
    * Allianz  ALVG.DE : JP Morgan raises target to 150 euros from 143 euros; rating overweight 
    * Allianz  ALVG.DE : Natixis raises price target to 145 euros from 140 euros; rating buy 
    * Alstom SA  ALSO.PA : RBC cuts target to 30 euros from 30.50 euros; rating sector perform 
    * Altice  ATCE.AS : Citigroup raises price target to 39 euros from 37 euros; rating sell 
    * AMEC  AMEC.L : Exane BNP Paribas cuts price target by 3 pct to 1130p; rating underperform 
    * Amplifon  AMPF.MI : Commerzbank raises target to 5.20 euros from 5.10 euros; rating buy 
    * Anadolu EFES  AEFES.IS : Nomura cuts target price to Tl 23 from Tl 24; rating neutral 
    * AP Moeller Maersk  MAERSKa.CO : JP Morgan cuts target to Dkk 16,500; rating overweight  
    * AP Moeller Maersk  MAERSKb.CO : JP Morgan cuts target to Dkk 16,500; rating overweight  
    * ASOS  ASOS.L : Citigroup cuts to neutral from buy 
    * ASOS  ASOS.L : Citigroup raises target price to 3,100p 
    * AstraZeneca  AZN.L : Jefferies raises price target to 5300p; rating buy 
    * Atlantia SpA  ATL.MI : Natixis raises target to 20.5 euros from 20 euros; rating neutral 
    * Atlas Copco AB  ATCOa.ST : Deutsche Bank raises to buy from hold  
    * Atlas Copco AB  ATCOa.ST : Deutsche Bank raises price target to Sek 240 from Sek 180 
    * ATOS  ATOS.PA : Goldman Sachs cuts price target to 84 euros from 85 euros; rating buy 
    * ATOS  ATOS.PA : SocGen cuts target price to 73 euros from 77 euros; rating buy 
    * ATOS  ATOS.PA : Credit Suisse cuts target to 69 euros from 75 euros; rating outperform 
    * ATOS  ATOS.PA : Exane BNP Paribas cuts target by 3 pct to 73 euros; rating outperform 
    * ATOS  ATOS.PA : Kepler Cheuvreux cuts price target to 60 euros from 65 euros; rating hold 
    * ATOS  ATOS.PA : Natixis cuts price target to 74.5 euros from 75.5 euros; rating buy 
    * Aveva  AVV.L : Panmure cuts target price to 1928p from 1980p; rating hold 
    * Azimut  AZMT.MI : Citigroup cuts target price to 23 euros; rating buy 
    * Baron DE LEY  BDL.MC : Exane BNP Paribas raises target by 3 pct to 90 euros; outperform 
    * Baywa AG  BYWGnx.DE : Deutsche Bank cuts target to 33 euros from 37 euros; rating hold  
    * Boohoo.com  BOOH.L : Citigroup starts with buy  
    * Boohoo.com  BOOH.L : Citigroup starts with target price 60p  
    * Boskalis  BOSN.AS : Rabobank raises to buy from hold; target to 50 euros from 42 euros 
    * Bovis Homes Group  BVS.L : Credit Suisse raises target to 958p from 952p; rating neutral 
    * BP  BP.L : JP Morgan cuts price target to 500p from 575p 
    * BP  BP.L : JP Morgan cuts to neutral from overweight 
    * Cairn Energy  CNE.L : Canaccord Genuity raises to buy from hold  
    * Cairn Energy  CNE.L : Jefferies raises price target to 282p from 266p; rating buy 
    * Capital & Counties  CAPCC.L : Exane BNP Paribas raises target by 3 pct to 410p; outperform 
    * Carlsberg  CARLb.CO : Canaccord Genuity cuts target to Dkk 585 from Dkk 600; rating buy 
    * Carlsberg  CARLb.CO : S&P Capital IQ cuts target to Dkk 550 from Dkk 575; rating hold 
    * Cat Oil AG  O2C.DE : Renaissance Capital cuts price target to 20 euros from 25 euros 
    * Centrica  CNA.L : Morgan Stanley cuts price target to 305p from 335p; rating equal weight 
    * Cofinimmo  COFB.BR : Exane BNP Paribas raises target to 95 euros from 93 euros; neutral 
    * Constantin Medien AG  EV4G.DE : Deutsche Bank raises target to 1.50 euros from 1.30 euros 
    * Credit Agricole SA  CAGR.PA : JP Morgan cuts target to 12 euros from 12.50 euros; neutral 
    * Croda  CRDA.L : Credit Suisse raises target price to 2,450p from 2,350p; rating outperform 
    * Croda  CRDA.L : Deutsche Bank raises price target to 2350p from 2200p 
    * Croda  CRDA.L : JP Morgan raises price target to 2,300p from 2,250p; rating neutral 
    * Dairy Crest  DCG.L : Numis raises price target to 482p from 430p; rating hold 
    * Delhaize  DELB.BR : Nomura raises target to 62 euros from 55.50 euros; rating neutral 
    * Deutsche POST AG  DPWGn.DE : JP Morgan cuts target to 30 euros from 31 euros; overweight 
    * Dignity  DTY.L : Panmure raises price target to 1900p from 1800p; rating buy 
    * DNO  DNO.OL : UBS raises to buy from neutral; price target to Nok 22.5  
    * Elisa  ELI1V.HE : Danske Bank raises target price to 23.5 euros from 21 euros; rating hold 
    * Endesa  ELE.MC : Barclays adjusts target to 15.70 euros from 27.30 euros; equal weight 
    * Enel Green Power  EGPW.MI : Exane BNP Paribas cuts target to 1.7 euros; underperform 
    * Enquest Plc  ENQ.L : Canaccord Genuity cuts to hold from buy  
    * Enquest Plc  ENQ.L : Canaccord Genuity cuts price target to 100p from 150p  
    * Eurasia Drilling  EDCLq.L : Renaissance Capital cuts price target to $35 from $40; buy 
    * Eurocommercial  SIPFc.AS : Exane BNP Paribas raises target by 1 pct to 37.5 euros; neutral 
    * Euromicron  EUCAn.DE : Deutsche Bank cuts price target to 13.50 euros ROM 15 euros 
    * Euronext  ENX.PA : JP Morgan raises to overweight from neutral  
    * Euronext : JP Morgan raises price target to 24.50 euros from 21.50 euros 
    * Experian  EXPN.L : UBS cuts price target to 1150p from 1200p; rating buy 
    * Faroe Petroleum Plc  FPM.L : Canaccord Genuity cuts target to 145p from 165p; rating buy  
    * Finecobank  FBK.MI : Kepler Cheuvreux raises target to 4.7 euros from 4.4 euros;rating buy 
    * Finmeccanica  SIFI.MI : ESN/Banca Akros raises target to 10.50 euros from 10 euros; buy 
    * Finmeccanica  SIFI.MI :Exane BNP Paribas ups target to 6.1 euros from 5 euros;underperform 
    * Flsmidth  FLS.CO : Danske Bank cuts target price to Dkk 300 from Dkk 340; rating buy 
    * Flsmidth  FLS.CO : JP Morgan cuts price target to Nok 273 from Nok 279; rating neutral 
    * Flsmidth  FLS.CO : Nordea Equity cuts target price to Dkk 270 from Dkk 290; rating hold 
    * Freenet  FNTGn.DE : Berenberg raises price target to 21 euros from 20 euros; rating buy 
    * Fugro NV  FUGRc.AS : KBC raises to hold from reduce;raises target to 14 euros from 9 euros 
    * Fugro NV  FUGRc.AS : Kepler Cheuvreux cuts target to 15 euros from 31 euros; rating buy 
    * Fugro NV  FUGRc.AS : Natixis raises to neutral from reduce  
    * Fugro NV  FUGRc.AS : Natixis raises price target to 16 euros from 12.5 euros 
    * Fugro NV  FUGRc.AS : Rabobank raises price target to 25 euros from 10 euros 
    * Fugro NV  FUGRc.AS : Rabobank raises to buy from hold 
    * Gazprom  GAZPq.L : Renaissance Capital cuts price target to $8.3 from $10; rating hold 
    * Gazprom Neft'  SIBNq.L : Renaissance Capital cuts price target to $26 from $30; rating buy 
    * Gazprom  GAZPq.L : Otkritie Capital resumes coverage with buy rating; price target $8  
    * Genel Energy Plc  GENL.L : UBS raises to buy from neutral; raises target to 875p from 800p 
    * GFT Technologies  GFTG.DE : ESN/Equinet raises target to 12.10 euros from 10.20 euros; buy 
    * Gjensidige  GJFS.OL : JP Morgan cuts price target to Nok 109.80 from Nok 111; underweight 
    * GN Store Nord  GN.CO : Commerzbank raises target to Dkk 121 from Dkk 112; rating reduce 
    * Great Portland Estates  GPOR.L : KLR Group raises target by $3 to $61; rating accumulate 
    * Grifols  GRLS.MC : SocGen raises target price to 29 euros from 28 euros; rating sell 
    * Hawesko Holding AG  HAWG.DE : DZ Bank AG cuts to hold from buy 
    * Henderson Group  HGGH.L : RBC raises price target to 230p from 200p; rating sector perform 
    * Helvetia  HELN.S : Berenberg raises price target to Sfr 530 from Sfr 510; rating buy 
    * Highlight Communications  HLGZ.DE : DZ Bank raises target to 5.30 euros; rating buy 
    * Hikma  HIK.L : UBS raises price target to 2200p from 2050p; rating buy 
    * Hill & Smith  HILS.L : Numis starts with add; price target 625p 
    * Home Retail  HOME.L : UBS raises price target to 250p from 240p; rating buy 
    * Imperial Tobacco Group  IMT.L : SocGen raises target price to 3100p from 3000p; rating buy 
    * Intesa  ISP.MI : Kepler Cheuvreux removes from european and italian selected lists   
    * Intesa Sanpaolo  ISP.MI : ESN/Banca Akros raises to buy from accumulate 
    * Italcementi  ITAI.MI : ESN/Banca Akros cuts target to 5.50 euros from 6.80 euros; hold 
    * Ithaca Energy  IAE.L : Canaccord Genuity cuts target price to 160p from 175p; rating buy  
    * Kingfisher  KGF.L : Exane BNP Paribas cuts target by 11 pct to 340p; rating outperform 
    * Kuka  KU2G.DE : Commerzbank cuts to hold from buy;raises target to 55 euros from 43 euros 
    * Lanson  LAN.PA : Barclays cuts price target to 34 euros from 35 euros; rating equal weight 
    * Lanxess AG  LXSG.DE : Deutsche Bank cuts target to 50 euros from 55 euros; rating hold 
    * Lanxess AG  LXSG.DE : DZ Bank cuts target to 45.00 euros from 50.00 euros; rating buy 
    * Lanxess AG  LXSG.DE : Exane BNP Paribas cuts target by 5 pct to 52 euros;rating outperform 
    * Legrand  LEGD.PA : Morgan Stanley cuts target to 38 euros from 39.70 euros; equal-weight 
    * London Stock Exchange Group  LSE.L : HSBC cuts to neutral from overweight 
    * Lukoil  LKOHyq.L : Renaissance Capital cuts price target to $66 from $75; rating buy 
    * Lundin Petroleum AB  LUPE.ST : Canaccord Genuity raises to buy from hold   
    * Marshalls Plc  MSLH.L : Jefferies raises price target to 200p from 180p; rating hold 
    * Meggitt  MGGT.L : UBS raises price target to 490p from 470p; rating neutral   
    * Morphosys  MORG.DE : JP Morgan raises target to 85 euros from 80 euros; rating overweight 
    * Muenchener Rueckversicherungs  MUVGn.DE : UBS cuts target price to 173 euros; rating buy 
    * Munich RE  MUVGn.DE : UBS cuts price target to 173 euros from 177 euros; rating buy 
    * Nexans  NEXS.PA : Barclays cuts target to 28 euros from 33 euros; rating equal weight 
    * Novartis AG  NOVN.VX  Jefferies raises price target to Sfr 102; rating buy 
    * Novatek  NVTKq.L : HSBC raises target price to $100 from $90; rating underweight   
    * Novo Nordisk  NOVOb.CO : Jefferies cuts price target to Dkk 275; rating hold 
    * Numericable  NUME.PA : Citigroup raises target to 30 euros from 25.08 euros;rating neutral 
    * Nutreco NV  NUO.AS : Kepler Cheuvreux cuts to hold from buy 
    * OMV AG  OMVV.VI : Wood & Co cuts price target to 30.6 euros from 33.2 euros   
    * OMV AG  OMVV.VI : Wood & Co raises to buy from hold  
    * Parmalat  PLT.MI : ESN/Banca Akros raises target to 2.55 euros from 2.50 euros;rating hold 
    * Premier Oil Plc  PMO.L : Canaccord Genuity cuts price target to 250p from 375p  
    * Premier Oil Plc  PMO.L : Canaccord Genuity cuts to hold from buy 
    * Provident Financial  PFG.L : Numis raises price target to 2235p from 2139p; rating hold 
    * Prysmian  PRY.MI : Barclays cuts target to 17 euros from 18.50 euros; rating overweight  
    * Prysmian  PRY.MI : Credit Suisse raises to outperform from neutral 
    * Prysmian  PRY.MI : Exane BNP Paribas raises target to 15.4 euros from 14.4 euros; neutral 
    * Randgold Resources  RRS.L : RBC cuts target to 4500p from 4700p; rating sector perform 
    * REN  RENE.LS : Citigroup cuts target price to 2.70 euros from 2.90 euros; rating buy  
    * Rentokil Initial Plc  RTO.L : JP Morgan cuts target to 101p from 105p; rating underweight 
    * Repsol  REP.MC : Investec cuts target price to 17.70 euros from 18.50 euros; rating hold 
    * Richemont  CFRJ.J : BofA Merrill cuts price target to 91 Rand from 98 Rand   
    * Richemont  CFRJ.J : BofA Merrill cuts to underperform from neutral  
    * Richemont  CFR.VX : Nomura cuts price target to Sfr 101 from Sfr 105; rating buy 
    * Richemont  CFR.VX : Vontobel cuts price target to Sfr 98 from Sfr 100; rating buy 
    * Richter  GDRB.BU : Jefferies raises price target to Huf 3285 from Huf 3320; underperform 
    * Roche  ROG.VX : Jefferies raises price target to Sfr 325; rating buy 
    * Rocket Internet  RKET.DE : Goldman Sachs adds to Conviction List 
    * Rocket Internet  RKET.DE : Goldman Sachs starts with buy rating; price target of 69 euros 
    * Rockwool International  ROCKb.CO : ALM Brand Markets cuts target to Dkk 900; neutral 
    * Rosneft  ROSNq.L : Renaissance Capital cuts price target to $8.2 from $10; rating buy 
    * Royal Bank of Scotland Group  RBS.L : Nomura raises target to 370p from 360p;rating reduce 
    * Royal Dutch Shell  RDSa.L : JP Morgan cuts target to 2500p from 2700p; overweight  
    * Royal Dutch Shell  RDSb.L : JP Morgan cuts target to 2500p from 2700p; overweight  
    * Sainsbury  SBRY.L : Cantor cuts price target to 275p from 320p; rating hold 
    * Sartorius Stedim  STDM.PA : SocGen raises target to 155 euros from 140 euros; rating hold 
    * Serco  SRP.L : Liberum cuts price target to 210p from 300p; rating hold 
    * Serco  SRP.L : S&P Capital IQ cuts to sell from hold 
    * Serco  SRP.L : S&P Capital IQ cuts price target to 200p from 350p 
    * SES  SESFd.PA : ING cuts price target to 26 euros from 28 euros; rating hold 
    * Siemens AG  SIEGn.DE : JP Morgan cuts to neutral from overweight 
    * Skanska AB  SKAb.ST : UBS raises price target to Sek 150 from Sek 140; rating neutral 
    * SKF  SKFb.ST : Deutsche Bank cuts target price to Sek 155 from Sek 165; rating hold 
    * Sonova  SOON.VX : Commerzbank cuts to hold from buy 
    * Standard Chartered Plc  STAN.L : Investec cuts target to 1250p from 1350p; rating buy 
    * Surgutneftegas  SNGSyq.L : Renaissance Capital cuts price target to $10 from $12; buy 
    * Surgutneftegas  SNGS_p.RTS : Renaissance Capital cuts price target to $0.9 from $1; buy 
    * Swisscom  SCMN.VX : SocGen raises target price to Sfr 650 from Sfr 550; rating buy 
    * Swiss RE  SRENH.VX : Vontobel raises price target to Sfr 87 from Sfr 85; rating buy 
    * Syngenta  SYNN.VX : HSBC cuts to neutral from overweight; target to Sfr 335 from Sfr 350 
    * Tatneft  TATNxq.L : Renaissance Capital cuts price target to $45 from $50; rating buy 
    * Tecnicas Reunidas  TRE.MC : Exane BNP Paribas cuts target by 4 pct to 51 euros; outperform 
    * Tecnicas Reunidas  TRE.MC : JP Morgan cuts target to 47 euros from 48.50 euros; overweight 
    * Tecnicas Reunidas  TRE.MC : Natixis cuts target to 35 euros from 37 euros; rating reduce 
    * Tesco  TSCO.L : Bernstein raises to outperform from market-perform 
    * Thomas Cook  TCG.L : JP Morgan cuts price target to 190p from 200p; rating overweight 
    * Trinity Mirror  TNI.L : Barclays adjusts target to 175p from 192p; rating equal weight 
    * Tullow Oil  TLW.L : UBS cuts price target to 700p from 950p; rating buy  
    * UCB SA  UCB.BR : Citigroup cuts price target to 80 euros from 81 euros; rating buy 
    * UCB SA  UCB.BR : Deutsche Bank raises price target to 79 euros from 77 euros 
    * UniCredit  CRDI.MI : ESN/Banca Akros raises to buy from accumulate 
    * Verbund AG  VERB.VI : SocGen raises target price to 19.80 euros from 18 euros; rating buy 
    * Vestas  VWS.CO : Exane BNP Paribas raises price target by 4 pct to Dkk 212; rating neutral 
    * Vestas  VWS.CO : JYSKE Bank raises target price to Dkk 280 from Dkk 260; rating buy 
    * Vestas  VWS.CO : Danske Bank raises target to Dkk 290 from Dkk 275; rating buy 
    * Vestas  VWS.CO : Nordea Equity raises target price to Dkk 265 from Dkk 220; rating buy 
    * Virbac SA  VIRB.PA : Jefferies starts with hold; price target 174 euros 
    * Weatherly International  WETI.L : Canaccord Genuity cuts target to 4p from 5p; rating buy 
    * Wendel  MWDP.PA : Exane BNP Paribas cuts target by 1 percent to 95 euros; rating neutral 
    * Wendel  MWDP.PA : Natixis cuts target price to 120 euros from 129 euros; rating buy 
    * Wood Group  WG.L : Exane BNP Paribas cuts price target by 3 pct to 860p; rating outperform 
    * Zalando  ZALG.DE : Jefferies starts with buy; price target 21.50 euros 
    * Zalando  ZALG.DE : Credit Suisse starts with outperform; price target 23 euros 
    * Zalando  ZALG.DE : Deutsche Bank starts with hold rating; target price of 18.70 euros 
    * Zalando  ZALG.DE : Goldman Sachs starts with buy; price target 24.2 euros 
    * Zalando  ZALG.DE : Morgan Stanley starts with overweight; price target 21.30 euros 
    * Zalando  ZALG.DE : Citigroup starts with buy  
    * Zalando  ZALG.DE : Citigroup starts with target price 22.50 euros  
    * Zalando  ZALG.DE : JP Morgan starts with neutral; price target 21.80 euros 
    * Zurich Insurance Group AG  ZURN.VX : DZ Bank AG cuts to hold from buy 
 
    SECTOR/MARKET CHANGES: 
    * Dutch Market: Kepler Cheuvreux raises to overweight from neutral 
    * European Banking Sector: Kepler Cheuvreux cuts to underweight from neutral 
    * Italian Market: Kepler Cheuvreux cuts to underweight from neutral 
    * Spanish Market: Kepler Cheuvreux cuts to neutral from overweight 
            
 
 (Compiled by Fareha Khan and Jai Ganesh in Bangalore) 
 ((fareha.khan@thomsonreuters.com; within U.S. +1 646 223 8780 outside U.S. +91 80 6749 1130; 
Reuters Messaging: fareha.khan.thomsonsonreuters.com@reuters.net)) 
 
Keywords: RESEARCH EUROPE/