Europe Research Roundup: Airbus, Rio Tinto, Subsea 7, Erste Group
08/07/2014 15:09
July 8 (Reuters) - Securities analysts revised their ratings and price targets on several
European companies, including Airbus, Buzzi Unicem and Erste Group, on Tuesday.
HIGHLIGHTS
* European Mining: Barclays raises Rio Tinto RIO.L to overweight ID:nWNBB04PS2
* Airbus Group AIR.PA : UBS raises to buy from neutral
* Subsea 7 SUBC.OL : Carnegie raises to buy from hold; target price to Nok 130 from Nok 100
* Erste Group ERST.VI : Goldman Sachs, Deutsche Bank downgrade the stock
* Buzzi Unicem BZU.MI : Kepler Cheuvreux raises to buy from hold
* Compass Group CPG.L : SocGen cuts to hold from buy; target price to 1100p from 1130p
Following is a summary of research actions on European companies reported by Reuters on Tuesday.
Stock entries are in alphabetical order. See bottom of the table for sector changes.
* AB SKF SKFb.ST : JP Morgan raises target price to Sek 170 from Sek 162; rating neutral
* African Minerals AMIq.L : Barclays cuts target to 115p from 170p; rating underweight
* African Minerals AMIq.L : Investec raises target price to 154p from 129p; rating buy
* Ageas SA AGES.BR : Credit Suisse cuts target to 36 euros from 37 euros; rating outperform
* Airbus Group AIR.PA : UBS raises to buy from neutral rating
* Air France AIRF.PA : Raymond James cuts target to 12 euros from 14 euros; outperform
* Air France AIRF.PA : SocGen cuts target price to 9.1 euros from 10.5 euros; rating hold
* Air Liquide AIRP.PA : Credit Suisse raises target to 103 euros from 93.64 euros; neutral
* Aksa Enerji AKSEN.IS : Deutsche Bank cuts target to Tl 3.35 from Tl 3.58; rating buy
* Allianz ALVG.DE : Commerzbank raises target price to 154 euros from 150 euros; rating buy
* Anadolu Hayat ANHYT.IS : Deutsche Bank raises target to Tl 5.38 from Tl 4.37; rating hold
* Arcelik AS ARCLK.IS : Deutsche Bank raises target to Tl 15.10 from Tl 13.60; rating buy
* Arkema AKE.PA : JP Morgan cuts to underweight from overweight
* Arkema AKE.PA : JP Morgan cuts target price to 55 euros from 86 euros
* Assa Abloy ASSAb.ST : JP Morgan raises target to Sek 360 from Sek 350; rating neutral
* Atlas Copco ATCOa.ST : JP Morgan raises target to Sek 186 from Sek 176; rating neutral
* Aygaz AS AYGAZ.IS : Deutsche Bank cuts target price to Tl 10.60 from Tl 11; rating buy
* Befimmo SA BEFB.BR : Exane BNP Paribas raises target by 18 pct to 58 euros; underperform
* BNP Paribas BNPP.PA : S&P Capital IQ cuts target to 55 euros from 60 euros; rating hold
* Bovis Homes Group Plc BVS.L : Panmure raises target price to 953p from 942p; rating buy
* Buzzi Unicem BZU.MI : Kepler Cheuvreux raises to buy from hold
* Buzzi Unicem BZU.MI : Kepler Cheuvreux raises target to 15.40 euros from 14.20 euros
* Cambria Automobiles CAMBA.L : Panmure raises target price to 84p from 67p; rating buy
* Cegereal SA CGR.PA : Exane BNP Paribas raises target by 16 pct to 28.4 euros; neutral
* Chr Hansen CHRH.CO : Berenberg raises target price to Dkk 245 from Dkk 225; rating hold
* Coca-Cola Icecek CCOLA.IS : Deutsche Bank raises target to Tl 60.10 from Tl 58.60; buy
* Cofinimmo SA COFB.BR : Exane BNP Paribas raises target by 7 pct to 93 euros; neutral
* Colt COLT.L : Citigroup raises target price to 175p from 150p; rating buy
* Compass Group CPG.L : SocGen cuts to hold from buy
* Compass Group CPG.L : SocGen cuts target price to 1100p from 1130p
* Connect CNCTC.L : Liberum cuts target price to 200p from 220p; rating buy
* Constantin Medien EV4G.DE : DZ Bank cuts target to 1.89 euros from 1.95 euros; rating buy
* Corbion CORB.AS : ESN/SNS Securities raises to accumulate from hold
* Corio NV COR.AS : Exane BNP Paribas raises target by 13 pct to 34 euros; underperform
* Countrywide CWD.L : Credit Suisse cuts to neutral from outperform
* Countrywide CWD.L : Credit Suisse cuts price target to 582p from 745p
* Daimler AG DAIGn.DE : Commerzbank raises target to 80 euros from 72 euros; rating buy
* Danske Bank DANSKE.CO : Nomura cuts target price to Dkk 175 from Dkk 178; rating buy
* Darty DRTY.L : Nomura adjusts target price to 100p from 67p; rating neutral
* Dechra Pharmaceuticals DECP.L : Peel Hunt cuts target price to 778p from 785p; rating buy
* Domino Printing Sciences DOPR.L : UBS cuts target price to 690p from 840p; rating buy
* Dunelm DNLM.L : Cantor cuts target price to 900p from 1050p; rating buy
* Edenred EDEN.PA : SocGen cuts to hold from buy
* Edenred EDEN.PA : SocGen cuts target price to 22.3 euros from 26.3 euros
* Emmi EMMN.S : UBS raises price target to Sfr 330 from Sfr 310; rating neutral
* Enagas ENAG.MC : Citigroup raises target price to 30 euros from 23 euros; rating buy
* Enagas ENAG.MC : Exane BNP Paribas raises target by 8 pct to 27 euros; rating outperform
* Enagas ENAG.MC : UBS raises to neutral from sell; target to 25 euros from 20.5 euros
* Erste Group ERST.VI : Citigroup cuts target to 20 euros from 26 euros; rating neutral
* Erste Group ERST.VI : Deutsche Bank cuts to hold from buy
* Erste Group ERST.VI : Deutsche Bank cuts target price to 20 euros from 30 euros
* Erste Group ERST.VI : Goldman Sachs cuts to neutral from buy
* Erste Group ERST.VI : Goldman Sachs cuts target price to 25 euros from 31 euros
* Eurocommercial SIPFc.AS : Exane BNP Paribas raises target by 19 pct to 37 euros; neutral
* Ferrexpo Plc FXPO.L : Investec cuts target price to 162p from 176p; rating buy
* Fonciere Des Regions FDR.PA : Exane raises target by 13 pct to 72 euros; underperform
* Ford Otosan FROTO.IS : Deutsche Bank raises target price to Tl 30.40 from Tl 27; buy
* Fortum FUM1V.HE : Citigroup raises target price to 15 euros from 14.20 euros; rating sell
* Fortum FUM1V.HE : Deutsche Bank raises target to 16.50 euros from 16 euros; rating hold
* Foxtons Group FOXT.L : Credit Suisse resumes with outperform rating
* Garanti Bank GARAN.IS : Deutsche Bank raises to buy from hold
* Gecina SA GFCP.PA : Exane raises price target by 16 pct to 102 euros; rating underperform
* Hammerson Plc HMSO.L : Exane raises price target by 2 pct to 630p; rating outperform
* Hispania HIS.MC : Goldman Sachs starts with buy rating; target price 11.5 euros
* Icade SA ICAD.PA : Exane raises price target by 13 pct to 77 euros; rating neutral
* Isbank ISCTR.IS : Deutsche Bank cuts to hold from buy
* Jazztel Plc JAZ.MC : Citigroup raises target to 11 euros from 8.50 euros; rating neutral
* Klepierre LOIM.PA : Exane BNP Paribas raises target by 17 pct to 42 euros; outperform
* Land Securities LAND.L : Exane cuts price target by 2 pct to 1210p; rating outperform
* London Mining LOND.L : Barclays raises to equal weight from underweight
* London Mining LOND.L : Barclays raises target price to 80p from 75p
* Marks And Spencer MKS.L : S&P Capital IQ cuts target price to 460p from 480p; rating hold
* Mediaset Espana TL5.MC : Exane raises target by 4 pct to 8 euros; rating underperform
* Mediaset Espana TL5.MC : SocGen raises target to 5.8 euros from 5.7 euros; rating sell
* Mediaset SPA MS.MI : Exane BNP Paribas raises target by 6 pct to 3.80 euros; neutral
* Mercialys MERY.PA : Exane BNP Paribas raises target by 13 pct to 18 euros; rating neutral
* Migros MGROS.IS : Deutsche Bank raises target to Tl 20.90 from Tl 18.40; rating hold
* Millicom MICsdb.ST : Citigroup cuts target price to Sek 620 from Sek 680; rating neutral
* Mobistar MSTAR.BR : Citigroup raises target to 14 euros from 13 euros; rating neutral
* Numericable NUME.PA : Citigroup cuts to neutral from buy
* Orange ORAN.PA : Citigroup raises target to 12 euros from 9.80 euros; rating neutral
* Optimal Payments OPAY.L : Barclays raises target to 600p from 525p; rating overweight
* Petrofac Ltd PFC.L : Berenberg cuts target price to 1440p from 1740p; rating buy
* PostNL PTNL.AS : Citigroup cuts to sell from neutral
* PostNL PTNL.AS : Credit Suisse raises target to 5.20 euros from 4.10 euros; outperform
* PSP PSPN.S : Exane BNP Paribas raises price target by 6 pct to Sfr 89; rating outperform
* Rexel SA RXL.PA : JP Morgan cuts target price to 19 euros from 20 euros; overweight
* Rio Tinto RIO.L : Barclays raises to overweight from equal weight
* Rio Tinto RIO.L : Barclays raises target price to 3600p from 3350p
* Sabanci Holding SAHOL.IS : Deutsche Bank raises target to TL 11.80 from Tl 10; rating buy
* SGS SGSN.VX : SocGen raises target price to Sfr 2300 from Sfr 2260; rating hold
* Sise Cam SISE.IS : Deutsche Bank cuts to hold from buy
* Sodexo EXHO.PA : SocGen raises to buy from hold
* Sodexo EXHO.PA : SocGen raises target price to 91 euros from 80 euros
* Stagecoach Group SGC.L : Jefferies raises price target to 415p from 350p; rating hold
* Storebrand STB.OL : JP Morgan raises target to Nok 44.30 from Nok 42.30; overweight
* Subsea 7 SUBC.OL : Carnegie raises to buy from hold; target price to Nok 130 from Nok 100
* Syngenta SYNN.VX : Credit Suisse raises target to Sfr 355 from Sfr 335; rating neutral
* Tele2 TEL2b.ST : Barclays raises target price to Sek 83 from Sek 80; rating overweight
* Telecity Group TCY.L : Citigroup raises target price to 900p from 850p; rating buy
* Temenos TEMN.S : Barclays raises target price to Sfr 41 from Sfr 36; rating overweight
* TUI AG TUIGn.DE : Berenberg starts with hold; target price 13.10 euros
* Tungsten TUNG.L : Canaccord Genuity raises target price to 330p from 292p; rating buy
* Turkish Airlines THYAO.IS : Deutsche Bank cuts target to Tl 8.10 from Tl 8.80; rating buy
* Unibail-Rodamco UNBP.AS : Exane raises price target by 16 pct to 230 euros; neutral
* Vodafone VOD.L : Credit Suisse cuts target price to 220p from 245p; rating outperform
* WANdisco Plc WAND.L : Investec starts with buy rating; target price 1275p
* XP Power Ltd XPP.L : Investec cuts target price to 1750p from 1790p; rating buy
(Compiled by Saqib Iqbal Ahmed, Eileen Anupa Soreng and Mohan Anand)
((saqib.ahmed@thomsonreuters.com)(within U.S. +1 646 223 8780 outside U.S. +91 80 6749
1130)(Reuters Messaging: saqib.ahmed.thomsonsonreuters.com@reuters.net))
Keywords: RESEARCH EUROPE/