Europe Research Roundup: BHP Billiton, Carrefour, Hannover Re, Glencore Xstrata
19/02/2014 16:53
Feb 19 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including BHP Billiton and Marks and Spencer, on Wednesday.
HIGHLIGHTS
* BHP Billiton BLT.L : SocGen, Deutsche Bank raise target price on the stock
* Glencore Xstrata GLEN.L : Investec raises to reduce from sell; target to 328p from 308p
* Swatch Group UHR.VX : Barclays raises to overweight from equal weight
* Carrefour SA CARR.PA : Goldman Sachs cuts to sell from neutral
* Marks and Spencer MKS.L : Jefferies raises to buy from hold; target to 600p from 480p
* Hannover Re HNRGn.DE : JP Morgan raises target to 63 euros from 60.60 euros; neutral
Following is a summary of research actions on European companies reported by Reuters on
Wednesday. Stock entries are in alphabetical order. See bottom of the table for sector changes.
* Air France KLM AIRF.PA : Deutsche Bank raises price target to 8.5 euros from 7 euros
* Alstom SA ALSO.PA : Nomura cuts price target to 17 euros from 25 euros; rating reduce
* Alstom SA ALSO.PA : UBS cuts traget price to 20 euros from 24 euros; rating neutral
* Anglo American AAL.L : UBS raises target price to 1650p from 1580p; rating buy
* Arseus Nv RCUS.BR : Jefferies raises target price to 34 euros from 28 euros; rating buy
* B P Marsh and Partners BPM.L : Panmure raises to buy from hold
* Banco Espirito Santo BES.LS : Citigroup raises target to 1.75 euro from 1.50 euro; buy
* Beni Stabili BNSI.MI : SocGen raises target price by 0.05 euro to 0.70 euro; rating buy
* Bertrandt AG BDTG.DE : Deutsche Bank cuts to sell from hold
* BHP Billiton BLT.L : Deutsche Bank raises price target to 2450p from 2400p
* BHP Billiton BLT.L : JP Morgan raises price target to 2300p from 2250p; rating neutral
* BHP Billiton BLT.L : SocGen raises target price to 1890p from 1790p; rating hold
* BHP Billiton BLT.L : S&P Capital IQ raises target price to 1800p from 1700p; rating sell
* BHP Billiton BLT.L : Investec raises target price to 364p from 347p; rating hold
* BNP Paribas BNPP.PA : Credit Suisse cuts target to 63.9 euros from 65.7 euros;outperform
* Brunello Cucinelli BCU.MI : Exane BNP Paribas starts with underperform; target 19.1euros
* Carl Zeiss AFXG.DE : Jefferies ups target to 19.80 euros from 19.50 euros; underperform
* Carlsberg CARLb.CO : Canaccord Genuity cuts target to Dkk 630 from Dkk 650; rating buy
* Carrefour SA CARR.PA : Goldman Sachs adds to pan-Europe conviction sell list
* Carrefour SA CARR.PA : Goldman Sachs cuts to sell from neutral
* Casino CASP.PA : JP Morgan raises price target to 81 euros from 76 euros; rating neutral
* CropEnergies CE2G.DE : DZ Bank cuts target to 6.10 euros from 7.50 euros; rating buy
* Deceuninck NV DECB.BR : ING raises target to 2.40 euros from 1.85 euros; rating hold
* Det Norske Oljeselskap DETNOR.OL : Swedbank cuts target to Nok 115 from Nok 120; buy
* Deutsche Boerse DB1Gn.DE : Barclays raises target to 53 euros from 50 euros; underweight
* Dialog Semiconductor DLGS.DE : Deutsche Bank raises target to 14 euros from 13 euros
* Drax Group PLC DRX.L : Barclays raises price target to 950p from 915p; rating overweight
* Drax Group PLC DRX.L : S&P Capital IQ raises to buy from hold
* Drax Group PLC DRX.L : S&P Capital IQ target price to 915p from 741p
* Duerr AG DUEG.DE : Deutsche Bank cuts to hold from buy
* Enagas SA ENAG.MC : Exane BNP Paribas raises target by 4 pct to 24 euros; outperform
* First Quantum Minerals FQM.L : Morgan Stanley cuts price target to 1250p from 1300p
* Galliford Try GFRD.L : Numis raises target price to 1215p; rating hold
* Gas Natural GAS.MC : Barclays raises target to 20.50 euros from 19.70 euros; overweight
* Glencore Xstrata GLEN.L : Investec raises to reduce from sell; target to 328p from 308p
* Greggs PLC GRG.L : UBS raises target price to 560p from 480p; rating buy
* Hannover Re HNRGn.DE : JP Morgan raises target to 63 euros from 60.60 euros; neutral
* Heineken NV HEIN.AS : UBS cuts target price to 51 euros from 52 euros; rating neutral
* HSBC Holdings HSBA.L : Deutsche Bank cuts price target to 700p from 710p
* Hutchison China MediTech HCM.L : UBS raises target price to 820p from 760p; rating buy
* ING ING.AS : Citigroup raises target price to 12.2 euros from 11.6 euros; rating buy
* InterContinental Hotels IHG.L : Barclays cuts target to 1900p from 1930p; equal weight
* InterContinental Hotels IHG.L : Citigroup cuts target to 2350p from 2370p; rating buy
* Intesa Sanpaolo ISP.MI : UBS raises target to 2.45 euros from 2.1 euros; rating buy
* Jazztel JAZ.MC : Berenberg raises to buy from hold; target to 12 euros from 8.40 euros
* Kazakhmys KAZ.L : JP Morgan raises price target to 190p from 160p; rating underweight
* LVMH LVMH.PA : Citigroup raises target price to 169 euros from 160 euros; rating buy
* M6 MMTP.PA : SocGen raises target price to 20 euros from 19.3 euros; rating buy
* Marks and Spencer MKS.L : Jefferies raises target price to 600p from 480p
* Marks and Spencer MKS.L : Jefferies raises to buy from hold
* Mayr Melnhof Karton MMKV.VI : UBS raises target to 105 euros from 90 euros; rating buy
* Mediobanca MDBI.MI : UBS raises target price to 6.60 euros from 5.80 euros; neutral
* Merlin MERL.L : JP Morgan starts with overweight; price target 415p
* Metro AG MEOG.DE : Berenberg cuts target price to 34 euros from 36 euros; rating hold
* Morgan Advanced Materials MGAMM.L : Jefferies raises target to 370p from 360p; buy
* MTU Aero Engines MTXGn.DE : Bernstein cuts target to 58euros from 61euros; underperform
* MTU Aero Engines MTXGn.DE : Commerzbank cuts target to 74 euros from 79 euros; buy
* MTU Aero Engines MTXGn.DE : Deutsche Bank cuts price target to 63 euros from 65 euros
* MTU Aero Engines MTXGn.DE : Exane BNP Paribas raises target by 4 pct to 59 euros
* MTU Aero Engines MTXGn.DE : JP Morgan cuts target to 74 euros from77 euros; neutral
* MTU Aero Engines MTXGn.DE : SocGen cuts to hold from buy
* MTU Aero Engines MTXGn.DE : DZ bank cuts fair value to 60 euros from 61 euros; sell
* Nestle SA NESN.VX : Citigroup cuts target price to Sfr 73 from Sfr 74; rating buy
* Nestle SA NESN.VX : Nomura raises price target to Sfr 57 from Sfr 55; rating reduce
* Nobel Biocare NOBN.S : Barclays raises target to Sfr 7.50 from Sfr 6.60; underweight
* Nobel Biocare NOBN.S : Berenberg cuts target to Sfr 16.20 from Sfr 16.50; rating buy
* Nobel Biocare NOBN.S : Deutsche Bank raises price target to Sfr 11.7 from Sfr 10.7
* Nobel Biocare NOBN.S : Jefferies cuts target price to Sfr 12.60 from Sfr 13; rating hold
* Nobel Biocare NOBN.S : Morgan Stanley cuts target price to Sfr 12.50 from Sfr 13.20
* Norma Group NOEJ.DE : CommerzBank raises target to 35 euros from 32 euros; rating hold
* Orior AG ORON.S : Helvea Baader Bank raises target to Sfr 56 from Sfr 52; rating hold
* Pandora PNDORA.CO : Dankske Bank raises target price to Dkk 375 from Dkk 360; rating buy
* Pandora PNDORA.CO : JP Morgan raises target to Dkk 380 from Dkk 360; rating overweight
* Porsche Automobil PSHG_p.DE : DZ Bank raises target price to 54 euros from 51 euros
* Proactis PHD.L : Finncap raises target price to 70p from 60p
* Public Power Corporation DEHr.AT : Wood & Company starts with buy; target of 14 euros
* Puma SE PUMG.DE : Deutsche Bank cuts price target to 195 euros from 200 euros
* Renault RENA.PA : Barclays raises target to 91 euros from 69 euros; rating overweight
* Rexel SA RXL.PA : Exane BNP Paribas cuts target by 3 pct to 19.5 euros; rating neutral
* Rexel SA RXL.PA : Morgan Stanley cuts target to 20.70 euros from 22 euros; overweight
* Rheinmetall RHMG.DE : S&P Capital IQ raises target to 60 euros from 48 euros; rating buy
* Richemont SA CFR.VX : Barclays raises target to Sfr 110 from Sfr 107; rating overweight
* Rio Tinto RIO.L : Clarkson Capital Markets raises target to 4,570p from 4,330p;outperform
* Saft S1A.PA : Exane BNP Paribas raises target to 30 euros from 27 euros; outperform
* Salvatore Ferragamo SFER.MI : Exane BNP Paribas starts with neutral; target 24.6 euros
* Sanofi SA SASY.PA : Goldman Sachs cuts target to 82 euros from 88 euros; rating neutral
* Schindler SCHN.S : UBS raises target price to Sfr 135 from Sfr 125; rating neutral
* Snam SRG.MI : Morgan Stanley raises target to 3.87 euros from 3.78 euros; equal weight
* Societe Generale SOGN.PA : Exane raises price target by 6 pct to 51 euros; outperform
* Swatch Group UHR.VX : Barclays raises price target to Sfr 700 from Sfr 650
* Swatch Group UHR.VX : Barclays raises to overweight from equal weight
* Suedzucker Mannheim SZUG.DE : Commerzbank cuts target to 17 euros from 18 euros; reduce
* Tarkett SA TKTT.PA : Exane BNP Paribas ups target to 37 euros from 33 euros; outperform
* Terna TRN.MI : Morgan Stanley raises target to 3.75 euros from 3.66 euros; overweight
* ThyssenKrupp TKAG.DE : DZ Bank raises fair value to 17 euros from 15 euros; rating sell
* Tod's Spa TOD.MI : Barclays cuts target to 90 euros from 98 euros; rating underweight
* Tod'S Spa TOD.MI : Exane BNP Paribas starts with neutral rating; target 106 euros
* Tom Tailor Holding TTIGn.DE : Commerzbank cuts to add from buy
* Tom Tailor Holding TTIGn.DE : Commerzbank cuts target to 17 euros from 18 euros
* Tullett Prebon TLPR.L : Barclays raises target to 350p from 325p; rating equal weight
* Ultra Electronics ULE.L : JP Morgan raises target to 2000p from 1950p; rating neutral
* Vodafone VOD.L : Nomura raises price target to 255p from 250p; rating buy
(Reporting by Eileen Anupa Soreng 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/