EUROPE RESEARCH ROUNDUP: Hannover Re, Imperial Tobacco, Volvo, Unilever
28/10/2013 11:35
Oct 28 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including Hannover Re and Cap Gemini, on Monday.
HIGHLIGHTS
* Hannover Re HNRGn.DE : Morgan Stanley raises to equal weight from underweight
* Cap Gemini CAPP.PA : HSBC cuts to neutral from overweight
* Unilever ULVR.L : Panmure cuts to hold from buy
* Iberdrola IBE.MC : JP Morgan raises to neutral from underweight
* Lloyds Banking LLOY.L : Investec cuts to hold from buy
* Volvo VOLVb.ST : Natixis cuts to neutral from buy
* Playtech PTEC.L : Numis 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. See bottom of the table for sector changes.
* 3i Group III.L : SocGen raises price target to 415p from 370p; rating buy
* ABB ABBN.VX : Berenberg raises target price to Sfr 23.40 from Sfr 21.50; rating hold
* adidas ADSGn.DE : Deutsche Bank cuts price target to 80 euros from 82 euros
* Admiral ADML.L : Numis raises to add from reduce; target by 255p to 1425p
* Aggreko AGGK.L : Panmure cuts price target to 1736p from 1822p; rating buy
* Aggreko AGGK.L : Panmure cuts price target to 1736p from 1822p; rating buy
* Amadeus Fire AMDG.DE : DZ Bank raises price target to 53 euros from 49 euros; rating buy
* Anheuser-Busch ABI.BR : Bernstein cuts target to 86 euros from 88 euros; market-perform
* Ansaldo STS STS.MI : ESN/Banca Akros raises to buy; target to 9.55 euros from 7.10 euros
* Ansaldo STS STS.MI : ESN/Banca Akros raises to buy; target to 9.55 euros from 7.10 euros
* Atlas Copco ATCOa.ST : JP Morgan cuts target to Sek 188 from Sek 200; rating neutral
* Atresmedia A3M.MC : Credit Suisse raises target to 16 euros from 7.9 euros; outperform
* Atresmedia A3M.MC : Deutsche Bank raises target price to 7 euros from 4 euros; sell
* Autogrill AGL.MI : MainFirst Bank starts with outperform; target price 8 euros
* Axa AXAF.PA : Credit Suisse raises target to 21.10 euros from 19.50 euros; outperform
* Axa SA AXAF.PA : Barclays raises target to 18 euros from 14.50 euros; rating underweight
* Ballast Nedam BALNc.AS : ESN/SNS Securities cuts to reduce; target to 10 euros from 12
* Banca Popolare Milano PMII.MI : Deutsche Bank raises target to 0.49 euros from 0.34
* Banco Popolare BAPO.MI : Deutsche Bank raises target to 1.60 euros from 1.40; hold
* Barratt Developments BDEV.L : Deutsche Bank raises target to 394p from 391p; rating buy
* BASF BASFn.DE : Barclays raises price target to 81 euros from 79 euros
* BASF BASFn.DE : Credit Suisse raises target to 75 euros from 73 euros; rating neutral
* BASF BASFn.DE : Deutsche Bank raises price target to 85 euros from 79 euros
* BASF BASFn.DE : Exane BNP Paribas raises target to 78 euros from 73 euros; outperform
* BASF BASFn.DE : JP Morgan raises price target to 56 euros from 54 euros; underweight
* BASF BASFn.DE : SocGen raises target price to 76 euros from 70 euros; rating hold
* BBVA BBVA.MC : Natixis cuts target to 7.9 euros from 8.1 euros; rating neutral
* BBVA BBVA.MC : RBC cuts target price to 6.50 euros from 6.80 euros; sector perform
* Bechtle BC8G.DE : Dz bank raises fair value to 57 euros from 45 euros; rating buy
* Berkeley Group BKGH.L : Deutsche Bank raises price target to 2358p from 2252p; hold
* Bongrain BONG.PA : Natixis raises target to 54 euros from 52 euros; rating neutral
* BRE Bank BREP.WA : JP Morgan cuts to underweight from neutral
* Brewin Dolphin BRW.L : N+1 Singer starts with buy rating; price target of 305p
* Caixabank CABK.MC : Credit Suisse raises target to 3.50 euros from 3.05; neutral
* Caixabank CABK.MC : Natixis raises target to 3.15 euros from 2.94 euros; rating neutral
* Cap Gemini CAPP.PA : HSBC cuts to neutral from overweight
* Cargotec CGCBV.HE : HSBC cuts to neutral from overweight
* Cargotec CGCBV.HE : HSBC raises target price to 29 euros from 28 euros
* Cramo Oyj CRA1V.HE : ESN/Pohjola cuts to accumulate from buy
* Cramo Oyj CRA1V.HE : ESN/Pohjola cuts to accumulate from buy
* Credem EMBI.MI : Deutsche Bank raises target to 5.50 euros from 4.70euros; rating hold
* Daisy Group DAY.L : Liberum Capital raises price target to 165p from 155p; rating buy
* Debenhams DEB.L : Deutsche Bank cuts price target to 110p from 115p; rating buy
* Dialog Semiconductor DLGS.DE : Jefferies raises target to 17.79 euros from 15.33 euros
* DSV A/S DSV.CO : UBS raises target price to Dkk 160 from Dkk 140; rating neutral
* Electrolux ELUXb.ST : Exane BNP Paribas cuts target to Sek 165 from 175; underperform
* Electrolux ELUXb.ST : JP Morgan cuts target to Sek 185 from Sek 205; rating overweight
* ElringKlinger ZILGn.DE : HSBC cuts to underweight from neutral
* EnQuest ENQ.L : Liberum raises to buy from hold; target to 174p from 142p
* Ericsson ERICb.ST : Credit Suisse cuts target to Sek 94 from Sek 100; rating outperform
* Eurocash EUR.WA : JP Morgan cuts to neutral from overweight
* Fresenius Medical FMEG.DE : Berenberg cuts target to 56 euros from 58 euros;rating buy
* Gemalto GTO.AS : Credit Suisse cuts to neutral; target price to 75 euros from 90 euros
* Hannover Re HNRGn.DE : Morgan Stanley raises to equal weight from underweight
* Hannover Re HNRGn.DE : Morgan Stanley raises target to 62.30 euros from 57.80 euros
* Henkel HNKG_p.DE : Barclays raises target to 86 euros from 83 euros; rating overweight
* Iberdrola IBE.MC : JP Morgan raises to neutral from underweight
* Imperial Tobacco IMT.L : Renaissance Capital cuts to hold from buy
* Intesa Sanpaolo Spa ISP.MI : Deutsche Bank ups target to 2.10 euros from 1.80; buy
* ITV ITV.L : Deutsche Bank raises target price to 165p from 150p; rating hold
* Jcdecaux JCDX.PA : JP Morgan raises target to 34.10 euros from 30.70 euros; overweight
* JSW JSW.WA : JP Morgan raises price target to Pln 61 from Pln 58; rating underweight
* Jupiter JUP.L : BofA Merrill raises target price to 410p from 380p
* Kering PRTP.PA : JP Morgan cuts target to 190 euros from 195 euros; rating overweight
* Kering PRTP.PA : Natixis cuts target price to 182 euros from 187 euros; rating neutral
* Lisi GFII.PA : HSBC cuts to neutral from overweight
* Lloyds Banking LLOY.L : Investec cuts to hold from buy
* Logitech International LOGN.S : Credit Suisse raises target to Sfr 8 from 6.1; neutral
* Logitech international LOGN.S : UBS raises target to Sfr 9.20 from Sfr 8; rating neutral
* Luxottica LUX.MI : UBS cuts target price to 38 euros from 41 euros; rating neutral
* Mediaset Espana TL5.MC : Deutsche Bank raises target to 7 euros from 6.50 euros; hold
* Mediaset Espana Comunicacion TL5.MC : Credit Suisse ups target to 13 euros from 10
* Modern Times MTGb.ST : Morgan Stanley ups target to Sek 320 from Sek 300; equal weight
* Nordea Bank NDA.ST : Nomura raises target price to Sek 93 from Sek 86; rating buy
* Novozymes NZYMb.CO : Jefferies raises price target to Dkk 195 from Dkk 175; rating hold
* Ophir Energy OPHR.L : Credit Suisse cuts target to 495p from 550p; rating outperform
* Optimal Payments OPAY.L : Numis raises price target to 350p from 325p; rating buy
* Optimal Payments OPAY.L : Numis raises price target to 350p from 325p; rating buy
* Panalpina PWTN.S : RBC raises target to Sfr 145 from Sfr 125; rating sector perform
* Panalpina PWTN.S : UBS raises target to Sfr 135 from Sfr 130; neutral
* Pendragon PDG.L : Jefferies raises target price to 47p from 40p; rating buy
* Pendragon PDG.L : Panmure raises target price to 35p from 28p; rating hold
* Pendragon PDG.L : Panmure raises target price to 35p from 28p; rating hold
* Pernod Ricard PERP.PA : Credit Suisse cuts target price to 86 euros from 91; neutral
* Pernod Ricard PERP.PA : JP Morgan cuts target to 81 euros from 91 euros; rating neutral
* Petroleum Geo Services PGS.OL : JP Morgan cuts target to Nok 105 from 115; overweight
* Petroleum Geo Services PGS.OL : Morgan Stanley raises target to Nok 96 from Nok 90
* Petroleum Geo Services PGS.OL : UBS cuts target price to Nok 105 from Nok 115; buy
* Phoenix Group PHNX.L : Canaccord Genuity raises target to 865p from 785p; rating buy
* Playtech PTEC.L : Deutsche Bank raises price target to 800p from 680p; rating buy
* Playtech PTEC.L : Deutsche Bank raises price target to 800p from 680p
* Playtech PTEC.L : Numis raises to hold from sell
* Playtech PTEC.L : Numis raises to hold from sell
* Puma PUMG.DE : JP Morgan cuts price target to 216 euros from 225 euros; rating neutral
* Rec Silicon REC.OL : HSBC raises to neutral from underweight
* Redrow RDW.L : Deutsche Bank raises price target to 294p from 278p; rating hold
* Redrow RDW.L : Panmure raises to buy from hold; target price to 294p from 240p
* Redrow RDW.L : Panmure raises to buy from hold; target price to 294p from 240p
* Renault RENA.PA : S&P Capital IQ raises target to 66 euros from 62 euros; rating hold
* Royal Bank of Scotland RBS.L : Deutsche Bank raises target to 320p from 275p; sell
* RTL Group RRTL.DE : Deutsche Bank raises price target to 95 euros from 92; rating buy
* Safran SAF.PA : Deutsche Bank raises price target to 47.5 euros from 45 euros
* Sage Group SGE.L : Jefferies raises to buy from hold
* Sage Group SGE.L : Jefferies ups target price to 380p from 320p
* Salamander Energy SMDR.L : RBC cuts to sector perform from outperform
* Salamander Energy SMDR.L : RBC cuts price target to 170p from 250p
* Sandvik SAND.ST : Berenberg cuts price target to Sek 112 from Sek 117; rating buy
* Schneider Electric SCHN.PA : Exane cuts target price to 62 euros from 65 euros; neutral
* Schneider Electric SCHN.PA : SocGen cuts target to 70 euros from 73 euros; rating buy
* SEB SEBa.ST : BofA Merrill raises to neutral from underperform
* SEB SEBa.ST : Credit Suisse raises target price to Sek 82 from Sek 74;rating neutral
* SEB SEBa.ST : JP Morgan raises target to Sek 78 from Sek 75; neutral
* SGS SGSN.VX : SocGen cuts price target to Sfr 2260 from Sfr 2300; rating hold
* SGS SGSN.VX : UBS raises target price to Sfr 2400 from Sfr 2300; rating buy
* Shire SHP.L : Citigroup raises target price to 3200p from 2900p; rating buy
* Shire SHP.L : Goldman Sachs raises target price to 3600p from 2850p; rating buy
* Sogefi SGFI.MI : Exane BNP Paribas raises target to 4.3 euros from 2.7 euros; neutral
* Spirent Communications SPT.L : BofA Merrill cuts target to 150p from 172p; rating buy
* SSAB SSABa.ST : Deutsche Bank cuts price target to Sek 30 from Sek 31
* SSAB SSABa.ST : Nomura cuts target price to Sek 34 from Sek 37; rating reduce
* Suez Environnement SEVI.PA : Credit Suisse ups target to 12.5 euros from 9; neutral
* Suez Environnement SEVI.PA : Morgan Stanley raises to overweight from equal weight
* Suez Environnement SEVI.PA : Morgan Stanley ups price target to 14 euros from 11 euros
* Swatch Group UHR.VX : Renaissance Capital raises target to Sfr 580 from Sfr 550; hold
* Telenor TEL.OL : Berenberg raises price target to Nok 149 from Nok 129; rating hold
* TeliaSonera TLSN.ST : Berenberg raises price target to Sek 49 from Sek 44; rating hold
* Turkcell TCELL.IS : Barclays raises target to Tl 15.7 from Tl 14; rating overweight
* UBI Banca UBI.MI : Deutsche Bank raises price target to 4.90 euros from 3.20; hold
* Unibail-Rodamco UNBP.AS : Natixis raises target to 190 euros from 178 euros; neutral
* Unicredit CRDI.MI : Deutsche Bank cuts to hold; ups target to 5.60 euros from 5.50 euros
* Unilever ULVR.L : Panmure cuts to hold from buy; target price to 2625p from 2800p
* Uponor Oyj UNR1V.HE : ESN/Pohjola raises to accumulate from reduce
* Uponor Oyj UNR1V.HE : ESN/Pohjola raises to accumulate; target to 16 euros from 12 euros
* Uponor Oyj UNR1V.HE : ESN/Pohjola ups target price to 16 euros from12 euros
* USG People USGP.AS : ING raises target to 9 euros from 5.75 euros; rating hold
* Vedanta Resources VED.L : JP Morgan cuts price target to 1360p from 1540p; overweight
* Veolia Environnement VIE.PA : Berenberg ups target to 14.60 euros from 11 euros; buy
* Veolia Environnement VIE.PA : Credit Suisse cuts to underperform from neutral
* Veolia Environnement VIE.PA : Credit Suisse raises target price to 10 euros from 9 euros
* Veolia Environnement VIE.PA : Morgan Stanley ups target to 15.5 euros from 14 euros
* Vinci SGEF.PA : Exane BNP Paribas raises target to 55 euros from 49 euros; outperform
* Vinci SGEF.PA : Raymond James raises target to 53 euros from 46 euros; rating outperform
* Volvo VOLVb.ST : Baird cuts price target to Sek 96 from Sek 102; rating neutral
* Volvo VOLVb.ST : BofA Merrill cuts target to Sek 68 from Sek 76; rating underperform
* Volvo VOLVb.ST : JP Morgan cuts price target to Sek 97 from Sek 107; rating neutral
* Volvo VOLVb.ST : Natixis cuts to neutral from buy; cuts target to Sek 91 from Sek 119
* Volvo VOLVb.ST : S&P Capital IQ cuts target price to Sek 91 from Sek 97; rating hold
* Whitbread WTB.L : BofA Merrill raises price target to 3850p from 3500p; rating buy
* Workspace WKP.L : JP Morgan raises price target to 540p from 525p; rating overweight
(Compiled by Eileen Anupa Soreng and Aby Jose Koilparambil in Bangalore)
((eileen.soreng@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. + 91 80 6749
6131)(Reuters messaging: eileen.soreng.thomsonreuters.com@reuters.net))
Keywords: RESEARCH EUROPE/