EUROPE RESEARCH ROUNDUP: ArcelorMittal, Statoil, Rosneft, Adidas

Phoenix Mecano AG

10/02/2014 15:30

Feb 10 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including ArcelorMittal, SBM Offshore and Statoil ASA, on Monday.  
     
    HIGHLIGHTS 
    * adidas AG  ADSGn.DE : S&P Capital IQ raises to strong buy from buy 
    * ArcelorMittal  ISPA.AS : BofA Merrill cuts to neutral; JP Morgan, others raises target 
    * Statoil ASA  STL.OL : Morgan Stanley, SEB Equity Research upgrade the stock 
    * Rosneft  ROSNq.L : Goldman Sachs raises to buy from neutral  
    * SBM Offshore NV  SBMO.AS : SocGen cuts to hold; Barclays cuts price target  
    * Skanska AB  SKAb.ST : Berenberg raises to hold from sell 
      
       
Following is a summary of research actions on European companies reported by Reuters on Monday. 
Stock entries are in alphabetical order.    
     
     
    * Accor  ACCP.PA : Exane BNP Paribas raises price to 36 euros from 31 euros; rating neutral 
    * adidas AG  ADSGn.DE : S&P Capital IQ raises to strong buy from buy 
    * Admiral Group  ADML.L : Goldman Sachs cuts to neutral from buy 
    * African Barrick Gold  ABGL.L : HSBC raises to neutral from underweight 
    * African Barrick Gold  ABGL.L : HSBC raises target to 230p from 160p 
    * A.P.R. Energy  APREN.L : Jefferies cuts target price to 1250p from 1260p; rating buy 
    * Alstom SA  ALSO.PA : Berenberg cuts target price to 27.60 euros from 32 euros; rating buy 
    * Arcelik  ARCLK.IS : Credit Suisse cuts target to Tl 12.50 from Tl 13.40; rating neutral 
    * ArcelorMittal  ISPA.AS : JP Morgan raises target to 15.50 euros from 15 euros; overweight 
    * ArcelorMittal  ISPA.AS : S&P Capital IQ raises target to 11 euros from 9.20 euros; sell 
    * ArcelorMittal  ISPA.AS : Deutsche Bank ups target to 17 euros from 15 euros; rating buy 
    * ArcelorMittal  ISPA.AS : BofA Merrill cuts to neutral rating 
    * ArcelorMittal  ISPA.AS : SocGen raisse target price to 19 euros from 18 euros; rating buy 
    * ArcelorMittal  ISPA.AS : Commerzbank raises target to 11 euros from 10 euros; rating hold 
    * Assa Abloy  ASSAb.ST : Morgan Stanley cuts target to Sek 313 from Sek 317; equal weight 
    * AstraZeneca  AZN.L : Morgan Stanley raises target price to 3800p from 3700p; equal weight 
    * Aurubis  NAFG.DE : Deutsche Bank cuts target price to 40 euros from 44 euros; rating hold 
    * Aviva  AV.L : Morgan Stanley raises target price to 517p from 514p; rating overweight 
    * Betsson AB  BETSb.ST : Handelsbanken raises to buy from accumulate rating 
    * Bilfinger  GBFG.DE : Deutsche Bank raises target to 86 euros from 83 euros; rating hold 
    * Bilfinger  GBFG.DE : Commerzbank raises target to 102 euros from 84 euros; rating buy 
    * Bucher Industries  BUCN.S : UBS raises target to Sfr 260 from Sfr 240; rating neutral 
    * Buzzi Unicem  BZU.MI : Natixis ups target to 13.5 euros from 12.5 euros; rating neutral 
    * Cat Oil AG  O2C.DE : Goldman Sachs cuts to neutral from buy  
    * Catlin Group  CGL.L : Numis raises target price by 10p to 570p; rating hold 
    * Catlin Group  CGL.L : Peel Hunt raises to hold from sell 
    * Cimsa Cimento Sanayi ve Ticaret  CIMSA.IS : Erste Group cuts to hold from buy 
    * Daimler AG  DAIGn.DE : ESN\Equinet Bank raises target to 59 euros from 55 euros; reduce 
    * Daimler AG  DAIGn.DE : Commerzbank raises target to 72 euros from 70 euros; rating buy 
    * Elisa  ELI1V.HE : Barclays cuts target to 15.50 euros from 16 euros; rating underweight 
    * Eni SpA  ENI.MI : SocGen cuts taregt price to 16 euros from 18 euros; rating hold 
    * G4S PLC  GFS.L : Panmure cuts to sell from hold 
    * GN Store Nord  GN.CO : Nordea Equity Research raises target to Dkk 135 from Dkk 130; hold 
    * Grenkeleasing  GKLG.DE : ESN\Equinet Bank raises to hold from sell 
    * Hikma Pharmaceuticals  HIK.L : HSBC raises target to 1300p from 1035p; rating neutral 
    * Hugo Boss  BOSSn.DE : SocGen cuts target price to 102 euros from 110 euros; rating hold 
    * Hyder Consulting  HYC.L : Liberum cuts to hold from buy; target price to 520p from 630p 
    * Hyder Consulting  HYC.L : Investec cuts to hold from buy; target to 510p from 690p 
    * Hyder Consulting  HYC.L : Panmure cuts to sell from hold; target price to 538p from 700p 
    * Inchcape  INCH.L : UBS cuts target price to 605p from 615p; rating neutral 
    * Innate Pharma SA  IPH.PA : Leerink starts with outperform rating; target price 14 euros 
    * Jungheinrich  JUNG_p.DE : HSBC cuts to underweight from neutral 
    * Kemira Oyj  KRA1V.HE : ESN\Pohjola cuts to hold from accumulate 
    * Kety  KTY.WA : Erste Group cuts to reduce from buy 
    * KPN  KPN.AS : Bernstein raises target to 3.40 euros from 3.15 euros; rating outperform 
    * Merlin Entertainments  MERL.L : Investec starts with buy; target 415p 
    * Nutreco  NUO.AS : Goldman Sachs cuts to neutral from buy 
    * Nutreco  NUO.AS : Goldman Sachs target price to 34.5 euros from 46 euros  
    * Nutreco  NUO.AS : Goldman Sachs removes from Pan-Europe Buy List 
    * Nokian Renkaat  NRE1V.HE : Exane cuts target by 6 pct to 33 euros; rating underperform 
    * Orange Polska  OPL.WA : Erste Group raises target to Pln 10.7 from Pln 8; rating hold 
    * Oriflame  ORIsdb.ST : Credit Suisse cuts target to Sek 150 from Sek 170; underperform 
    * Outotec Oyj  OTE1V.HE : ESN\Pohjola raises to hold from reduce 
    * Pace PLC  PIC.L : Barclays ups to overweight from equal weight; target to 450p from 320p 
    * Petrofac  PFC.L : HSBC raises to overweight from neutral; target to 1400p from 1225p 
    * Phoenix Mecano  PM.S : UBS raises target price to Sfr 550 from Sfr 520; rating neutral 
    * Redrow  RDW.L : Goldman Sachs cuts to neutral from buy 
    * Rosneft  ROSNq.L : Goldman Sachs raises to buy from neutral  
    * RPC Group  RPC.L : Deutsche Bank starts with buy rating; target price of 670p 
    * Saft Groupe SA  S1A.PA : SocGen cuts to hold from buy  
    * Saft Groupe SA  S1A.PA : SocGen raises target price to 28 euros from 26 euros 
    * Saipem SpA  SPMI.MI : Berenberg raises target to 18.10 euros from 14.20 euros; hold 
    * Sanofi SA  SASY.PA : Morgan Stanley cuts target to 90 euros from 93 euros; overweight 
    * SBM Offshore  SBMO.AS : Barclays cuts target to 18.40 euros from 19.30 euros; overweight 
    * SBM Offshore  SBMO.AS : SocGen cuts to hold from buy  
    * SBM Offshore  SBMO.AS : SocGen cuts target price to 12.4 euros from 18 euros 
    * Skanska AB  SKAb.ST : Berenberg raises to hold from sell; target to Sek 132 from Sek 109 
    * Smith & Nephew PLC  SN.L : SocGen cuts target price to 630p from 660p; rating sell 
    * Statoil ASA  STL.OL : Barclays raises target to Nok 190 from Nok 175; rating overweight 
    * Statoil ASA  STL.OL : Morgan Stanley raises target price to Nok 175 from Nok 142 
    * Statoil ASA  STL.OL : Morgan Stanley raises to overweight from equal weight  
    * Statoil ASA  STL.OL : Swedbank raises to buy from neutral 
    * Statoil ASA  STL.OL : HSBC raises target to Nok 155 from Nok 138; rating underweight 
    * Statoil ASA  STL.OL : Handelsbanken cuts to reduce from accumulate 
    * Statoil ASA  STL.OL : Exane BNP Paribas raises target by 7 pct to Nok 160; rating neutral 
    * Statoil ASA  STL.OL : UBS raises target price to Nok 160 from Nok 150; rating neutral  
    * Statoil ASA  STL.OL : SocGen raises target price to Nok 171 from Nok 159; rating buy 
    * Statoil ASA  STL.OL : SEB Equity Research raises to buy from hold 
    * Stora Enso  STERV.HE : Goldman Sachs cuts to neutral from buy 
    * Subsea 7  SUBC.OL : Exane BNP Paribas cuts target to Nok 145 from Nok 155; outperform 
    * Surgutneftegas  SNGS.MM : Goldman Sachs cuts to neutral from buy 
    * Tarkett  TKTT.PA : Exane BNP Paribas starts with outperform; target price of 34 euros 
    * Tele2  TEL2b.ST : Berenberg cuts target price to Sek 85 from Sek 86; rating buy 
    * Tele2  TEL2b.ST : Barclays cuts target price to Sek 80 from Sek 85; rating overweight 
    * Telekom Austria  TELA.VI : Erste Group raises to hold from reduce 
    * TGS Nopec  TGS.OL : UBS raises target price to Nok 170 from Nok 155; rating neutral 
    * Treatt PLC  TET.L : Investec cuts to hold from buy; ups target to 715p from 685p 
    * UPM-Kymmene  UPM1V.HE : Goldman Sachs cuts to neutral from buy 
    * UPM-Kymmene  UPM1V.HE : Goldman Sachs cuts target price to 13.7 euros from 14.7 euros  
    * UPM-Kymmene  UPM1V.HE : Goldman Sachs removes from Pan-Europe Buy List 
    * Vestas Wind  VWS.CO : Nordea Equity raises target to Dkk 220 from Dkk 210; rating buy 
    * Vodafone Group  VOD.L : Goldman Sachs resumes with buy rating; 275p target price 
    * Wacker Chemie  WCHG.DE : UBS raises target price to 112 euros from 103 euros; rating buy 
    * Wynnstay Group  WYWYN.L : Investec raises target price to 621p from 605p; rating hold 
    * Yara International  YAR.OL : HSBC ups target to Nok 260 from Nok 220; rating underweight 
 
 (Compiled by Fareha Khan) 
 ((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/