EUROPE RESEARCH ROUNDUP: SAP, BP Plc, Electrolux, Enel

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13/01/2014 16:16

Jan 13 (Reuters) - Securities analysts revised their ratings and price targets on several 
European companies, including Royal Dutch Shell and SAP, on Monday.  
     
    HIGHLIGHTS 
    * Accor  ACCP.PA : Jefferies raises to buy from hold 
    * BP Plc  BP.L : Barclays cuts target price to 550p from 560p; rating underweight  
    * Electrolux  ELUXb.ST : Credit Suisse cuts to neutral from outperform  
    * SAP  SAPG.DE : Jefferies raises target to 66 euros from 60 euros; rating hold        
    * Enel  ENEI.MI : Exane BNP Paribas raises to outperform from underperform 
       
Following is a summary of research actions on European companies reported by Reuters on Monday. 
Stock entries are in alphabetical order.  
     
     
    * Accor  ACCP.PA : Jefferies raises to buy from hold; target to 41 euros from 35 euros  
    * Actelion  ATLN.VX : UBS raises price target to Sfr 88 from Sfr 82; rating buy 
    * Ad pepper  APME.DE : ESN/Equinet raises target to 1.85 euros from 1.50 euros; rating buy 
    * Adecco  ADEN.VX : RBC cuts to sector perform from outperform 
    * Adecco  ADEN.VX : RBC raises price target to Sfr 72 from Sfr 70  
    * Adecco  ADEN.VX : Deutsche Bank cuts to sell from hold  
    * Aegon  AEGN.AS : Morgan Stanley raises target to 8.20 from 7.70 euros; rating overweight 
    * Aegon  AEGN.AS : Citigroup raises target price to 7.1 euros from 6 euros  
    * Afren PLC  AFRE.L : Nomura raises target price to 210p from 170p; rating neutral 
    * African Barrick Gold  ABGL.L : Numis cuts to sell from hold  
    * AGEAS  AGES.BR : JP Morgan ups target to 40.61 euros from 37.84 euros; rating overweight 
    * Ageas  AGES.BR : Citigroup raises target price to 33 euros from 30.9 euros  
    * Amara Mining  AMARA.L : Numis cuts target price to 30p from 45p; rating buy  
    * Amec PLC  AMEC.L : SocGen raises target price to 1,417p from 1,320p; rating buy 
    * Amlin Plc  AML.L : Citigroup raises target price to 448p from 390p      
    * Antofagasta  ANTO.L : CIBC cuts price target to 900p from 1000p; rating sector performer  
    * Antofagasta Plc  ANTO.L : Numis cuts target price to 700p from 850p; rating hold  
    * Assa Abloy  ASSAb.ST : UBS raises price target to Sek 373 from Sek 325; rating buy 
    * Aurelius AG  AR4G.DE : Berenberg raises target to 30 euros from 23 euros; rating hold 
    * Aureus Mining  AUE.L : Numis cuts target price to 50p from 60p  
    * Avocet Mining  AVM.L : Numis cuts to hold from buy; cuts target price to 9p from 22p 
    * AXA  AXAF.PA : Citigroup raises target price to 24 euros from 21 euros  
    * BAE Systems  BAES.L : UBS raises price target to 510p from 475p; rating buy  
    * BAE Systems  BAES.L : UBS adds to UBS European key calls list      
    * Banco Bilbao Vizcaya Argentaria  BBVA.MC : Barclays ups to overweight from equal weight  
    * Banco Bilbao Vizcaya Argentaria  BBVA.MC : Barclays ups target to 10.20 euros  
    * Banco De Sabadell  SABE.MC :Barclays ups target to 1.90 euros from 1.40 euros;underweight 
    * Banco De Sabadell  SABE.MC : Natixis raises to neutral from reduce 
    * Banco De Sabadell  SABE.MC : Natixis raises  target price to 2 euros from 1.51 euro   
    * Banco Popular Espanol  POP.MC : Barclays ups target to 5.40 euros; rating equal weight  
    * Bank Pekao  PEO.WA : Barclays raises target to Pln 170.30 from Pln 157.10; underweight  
    * Banco Popolare  BAPO.MI : Natixis ups target to 1.7 euros from 1.3 euros; rating neutral 
    * Banco Popular  POP.MC : Natixis raises target to 5.25 euros from 4.15 euros; neutral  
    * Banco Santander  SAN.MC : Barclays ups target to 5.30 euros from 5.15 euros; underweight 
    * Banco Santander  SAN.MC : Natixis raises target to 6.2 euros from 5.3 euros; reduce  
    * Bankia  BKIA.MC : Natixis raises price target to 1.04 euros from 0.79 euros; reduce 
    * Basilea  BSLN.S : Helvea raises price target by Sfr 20 to Sfr 140; rating buy  
    * BBVA  BBVA.MC : Natixis raises price target to 9.5 euros from 7.9 euros; rating neutral  
    * Betfair Group  BETF.L : Credit Suisse cuts to neutral from outperform 
    * Betfair Group  BETF.L : Credit Suisse cuts price target to 1085p from 1185p 
    * Bilfinger  GBFG.DE : HSBC raises to overweight from underweight 
    * Bilfinger  GBFG.DE : HSBC raises target price to 100 euros from 67 euros 
    * BP Plc  BP.L : Barclays cuts target price to 550p from 560p; rating underweight  
    * Brenntag  BNRGn.DE : HSBC raises to overweight from neutral 
    * British American Tobacco  BATS.L : Nomura cuts target price to 3720p from 3640p 
    * Capita  CPI.L : RBC raises target price to 900p from 870p; rating underperform  
    * Carrefour  CARR.PA : HSBC raises target to 25 euros from 22 euros; rating underweight  
    * Cairn Energy  CNE.L : Nomura cuts target price to 350p from 370p; rating buy 
    * Caixabank  CABK.MC : Natixis raises target to 4.25 euros from 3.15 euros; rating neutral 
    * Catlin Group  CGL.L : Citigroup raises target price to 635p from 569p  
    * Cineworld Group  CINE.L : N+1 Singer raises to buy from hold 
    * Cineworld Group  CINE.L : N+1 Singer raises price target to 500p from 376p 
    * Cineworld Group  CINE.L : Numis raises target price to 500p; rating add 
    * Centamin Egypt  CEE.UL : Numis cuts target price to 60p from 70p  
    * CEZ  CEZP.PR : Exane BNP Paribas cuts target to CZk 540 from CZk 560; rating neutral 
    * Chaarat Gold Holdings  CGH.L : Numis cuts target price to 25p from 30p 
    * Chemring  CHG.L : UBS raises price target to 230p from 215p; rating neutral 
    * Cobham PLC  COB.L : UBS cuts to neutral from buy 
    * Credit Suisse  CSGN.VX : Helvea cuts to hold 
    * Croda International  CRDA.L : Berenberg cuts price target to 2850p from 3100p; rating buy 
    * DAMAC Real Estate  DMCq.L : Deutsche Bank starts with buy; price target $16.90 
    * Dechra Pharmaceuticals  DECP.L : Investec cuts to add from buy 
    * Dechra Pharmaceuticals  DECP.L : Investec raises price target to 780p from 778p 
    * Delta Lloyd  DLL.AS : ING raises price target to 21 euros from 18.50 euros; rating buy 
    * Delta Lloyd  DLL.AS : Citigroup raises target price to 21 euros from 18.5 euros  
    * Deutsche Telekom  DTEGn.DE : JP Morgan raises target to 11.50 from 10.50 euros; neutral 
    * Dragon Oil  DGO.L : Nomura raises target price to 770p from 750p; rating buy 
    * Drax Group  DRX.L : Exane BNP Paribas ups target by 14 percent to 950p; rating outperform 
    * Electrolux  ELUXb.ST : Credit Suisse cuts to neutral from outperform  
    * Electrolux  ELUXb.ST : Credit Suisse cuts price target to Sek 175 from Sek 190 
    * Endesa  ELE.MC : Exane BNP Paribas raises target by 5 pct to 22 euros; rating neutral  
    * Enel  ENEI.MI : Exane BNP Paribas raises to outperform from underperform 
    * Enel  ENEI.MI : Exane BNP Paribas raises price target to 3.85 euros from 2.85 euros  
    * Enel Green  EGPW.MI : Exane BNP Paribas ups target by 9pct to 1.75 euros; underperform 
    * Energy Assets Group  EASE.L : Numis cuts to add from buy 
    * Erste Group  ERST.VI : Barclays raises target to 29.80 from 27 euros; rating equal weight 
    * Ericsson  ERICb.ST : UBS raises price target to Sek 85 from Sek 80; rating neutral 
    * Energa  ENGP.WA : JP Morgan starts with overweight; price target Pln 19  
    * Energa  ENGP.WA : UBS starts with buy; price target Pln 17.50 
    * Faroe Petroleum  FPM.L : Nomura raises target price to 200p from 190p; rating buy 
    * Fenner PLC  FENR.L : Peel Hunt cuts to hold from buy; cuts price target to 440p 
    * Fresenius SE & Co  FREG.DE : Commerzbank ups target to 123 euros from 97 euros;rating add 
    * Fresnillo Plc  FRES.L : Numis raises to buy from add; cuts target price to 10p from 11p    
  
    * Ferrexpo plc  FXPO.L : Numis raises target price to 190p from 170p; rating hold  
    * Fiat SpA  FIA.MI : Citigroup raises target to 5.90 euros from 4.50 euros; rating sell 
    * First Quantum Minerals  FQM.L : Numis cuts to add from buy  
    * G4S  GFS.L : RBC cuts target price to 235p from 255p; rating underperform 
    * Gerry Weber  GWIG.DE : Exane BNP Paribas raises to outperform from neutral 
    * GERRY WEBER  GWIG.DE : EXANE BNP paribas raises price target by 18 percent to 40 euros 
    * Greene King  GNK.L : Panmure raises target price to 860p from 750p; rating hold 
    * Hannover Re  HNRGn.DE : Citigroup raises target price to 66.7 euros from 59.9 euros  
    * Hays  HAYS.L : Deutsche Bank raises price target to 121p from 112p; rating hold  
    * Hays PLC  HAYS.L : Barclays raises target price to 155p from 120p; rating overweight 
    * Hays PLC  HAYS.L : Citigroup raises price target to 135p from 115p; rating neutral 
    * Hays PLC  HAYS.L : RBC cuts to underperform from sector perform 
    * Hays PLC  HAYS.L : RBC raises target price to 120p from 108p 
    * Heidelbergcement  HEIG.DE : Commerzbank cuts target to 68 euros from 74 euros; rating buy 
    * Hellenic Petroleum  HEPr.AT : Wood company starts with sell; target 6.7 euros 
    * Highland Gold Mining  HGM.L : Numis cuts target price to 80p from 110p  
    * Hiscox Ltd  HSX.L : Citigroup raises target price to 673p from 610p  
    * Hochschild Mining  HOCM.L : Numis cuts target price to 120p from 180p  
    * HomeServe  HSV.L : Liberum raises to buy from hold; target to 330p from 250p 
    * HomeServe  HSV.L : Numis cuts to hold from add; cuts target price by 9p to 286p 
    * IGas Energy  IGAS.L : Canaccord Genuity cuts target price to 170p from 180p; rating buy 
    * Imperial Tobacco Group  IMT.L : Nomura raises target to 2270p from 2250p; rating reduce 
    * Infinis Energy  INFII.L : Deutsche Bank starts with hold; price target 265p 
    * Infinis Energy  INFII.L : Deutsche Bank starts with hold rating; target price of 265p 
    * Intercontinental  IHG.L : Jefferies cuts to underperform from hold 
    * Intercontinental  IHG.L : Jefferies cuts price target to 1650p  
    * International Consolidated  ICAG.L : HSBC cuts to neutral from overweight 
    * International Consolidated  ICAG.L : HSBC raises price target to 450p from 430p 
    * Intesa Sanpaolo  ISP.MI : Natixis raises target to 2.3 euros from 2 euros; rating buy  
    * Iliad  ILD.PA : JP Morgan cuts target to 205 euros from 215 euros; rating overweight 
    * Jeronimo Martins  JMT.LS : HSBC raises to overweight from neutral  
    * Jumbo SA  BABr.AT : HSBC raises target to 15.70 euros from 14.50 euros; rating overweight 
    * Just Retirement  JRG.L : Panmure starts with buy; price target 265p 
    * Just Retirement Group  JRG.L : Deutsche Bank starts with buy; price target 250p 
    * Kazakhmys Plc  KAZ.L : Numis cuts to sell from hold  
    * Komercni Banka  BKOM.PR : Barclays cuts target to CZk 4700 from CZk 4750; equal weight 
    * Kuoni Reisen Holding  KUNN.S : UBS raises to buy from neutral 
    * Kuoni Reisen Holding  KUNN.S : UBS raises price target to Sfr 500 from Sfr 365 
    * Laird PLC  LRD.L : UBS cuts to neutral from buy; raises price target to 305p from 255p 
    * Leoni  LEOGn.DE : HSBC raises price target to 65 euros from 60 euros; rating overweight 
    * Legal & General Group Plc LGEN.L : Citigroup raises target price to 235p from 210p  
    * Londonmetric Property  LMPL.L : Cantor ups target to 160p from 150p; rating buy 
    * Lufthansa  LHAG.DE : Natixis raises target price to 16 euros from 15 euros;rating neutral 
    * Magnit  MGNTq.L : Barclays raises price target to $80.27 from $78.21; rating overweight   
    * Magnit  MGNT.MM : Barclays ups target to 12441.31 roubles; rating overweight 
    * Mail.Ru  MAILRq.L : UBS raises price target to $49.3 from $45.1; rating buy 
    * Marriott  MAR.O : Jefferies cuts to underperform  
    * Metro  MEOG.DE : HSBC raises to neutral from underweight  
    * Motor Oil Hellas  KMORr.AT : Wood Company starts with buy; target 12.3 euros  
    * Meyer Burger  MBTN.S : Credit Suisse raises to outperform from neutral  
    * Meyer Burger  MBTN.S : Credit Suisse raises target price Sfr 17.0 from Sfr 7.5 
    * Millennium & Copthorne  MLC.L : Jefferies ups target to 550p from 510p; rating hold 
    * Morgan Sindall  MGNS.L : Peel Hunt cuts to sell from hold 
    * Munich Re  MUVGn.DE : Citigroup raises target price to 164.6 euros from 145.5 euros  
    * Neste Oil  NES1V.HE :Barclays cuts target to 15.50 euros from 16 euros;rating underweight 
    * Ocado Group  OCDO.L : HSBC raises target price to 235p from 200p; rating underweight 
    * Office2office  OFF.L : Wh Ireland cuts price target to 42p from 60p; rating outperform 
    * Qinetiq Group  QQ.L : UBS cuts to neutral from buy; raises price target to 235p from 215p 
    * Ophir Energy  OPHR.L : Nomura raises to buy from neutral; raises target to 460p from 430p 
    * Optimal Payments  OPAY.L : Canaccord Genuity raises target to 460p from 380p; rating buy 
    * Optimal Payments  OPAY.L : Numis raises target price to 500p from 450p; rating buy 
    * Page  MPI.L : Deutsche Bank raises price target to 443p from 409p; rating hold  
    * Pernod Ricard  PERP.PA : HSBC cuts target to 100 euros from 108 euros; rating overweight 
    * Premier Oil  PMO.L : Nomura cuts target price to 440p from 450p; rating buy 
    * Prudential Plc  PRU.L : Citigroup raises target price to 1550p from 1390p  
    * PKO  PKO.WA : Barclays raises target to Pln 43.10 from Pln 39.60;rating equal weight 
    * Randgold Resources  RRS.L : Numis cuts target price to 50p from 60p  
    * Randstad  RAND.AS : RBC cuts to sector perform from outperform 
    * Randstad  RAND.AS : RBC raises price target to 46 euros from 44 euros  
    * Randstad  RAND.AS : Deutsche Bank cuts to sell from hold  
    * Rieter  RIEN.S : Credit Suisse raises to outperform from neutral  
    * Rieter  RIEN.S : Credit Suisse raises price target to Sfr 260 from Sfr 190 
    * Richemont  CFR.VX : HSBC cuts price target to Sfr 108 from Sfr 113; rating overweight 
    * Red Electrica  REE.MC : Morgan Stanley raises to equal-weight rating 
    * Red Electrica  REE.MC : SocGen raises to hold from sell  
    * Red Electrica  REE.MC : SocGen raises target price to 55.6 euros from 37 euros 
    * Red Electrica  REE.MC : UBS raises price target to 54.5 euros from 49.5 euros; rating buy 
    * Resolution  RSL.L : Citigroup raises target price to 350p from 314p  
    * Royal Dutch Shell  RDSa.L : Barclays raises target to 2660p from 2650p; rating overweight  
    * RSA Insurance Group  RSA.L : Citigroup cuts target price to 100p from 126p 
    * SAP  SAPG.DE : Jefferies raises price target to 66 euros from 60 euros; rating hold   
    * SAP  SAPG.DE : Pacific Crest cuts to sector perform from outperform 
    * Serco  SRP.L : Credit Suisse ups target to 580p from 500p; rating outperform  
    * Serco  SRP.L : RBC raises price target to 420p from 390p; rating underperform  
    * SOCO International  SIA.L : Nomura raises target price to 410p from 400p; rating neutral  
    * Somfy  DAMA.PA : SocGen raises target price to 239 euros from 223 euros; rating 
    * SSE PLC  SSE.L : Exane BNP Paribas cuts to neutral from outperform 
    * SSE PLC  SSE.L : Exane BNP Paribas cuts price target by 21 percent to 1420p 
    * SThree  STHR.L : RBC raises to outperform from sector perform; target to 400p from 350p 
    * Telekom Austria  TELA.VI : UBS raises to buy from neutral 
    * Telekom Austria  TELA.VI : UBS raises price target to 7 euros from 6.20 euros 
    * Tesco  TSCO.L : Nomura cuts price target to 350p from 360p; rating neutral  
    * The Swatch Group  UHR.VX : HSBC cuts target price to Sfr 610 from Sfr640; rating neutral 
    * Trakm8  TKM8.L : Finncap raises price target to 43p  
    * Tritax  BBOXT.L : Jefferies starts with buy; price target 114p 
    * Tullow Oil  TLW.L : Barclays cuts target to 1490p from 1510p euros; rating overweight 
    * Tullow Oil  TLW.L : Nomura raises target price to 1170p from 1130p; rating neutral 
    * Tullow Oil  TLW.L : SocGen cuts target price to 960p from 975p; rating hold 
    * Turkish Airlines  THYAO.IS : HSBC cuts target price to Tl 9 from Tl 10;rating overweight 
    * UBI Banca  UBI.MI : Natixis raises to buy from neutral 
    * UBI Banca  UBI.MI : Natixis raises target to 5.9 euros from 4.7 euros  
    * UBM PLC  UBM.L : HSBC raises to overweight from neutral 
    * UBS AG  UBSN.VX : BofA Merrill raises to buy from neutral - Theflyonthewall.com 
    * Ultra Electronics  ULE.L : UBS raises price target to 1940p from 1820p; rating neutral 
    * Unicredit Spa  CRDI.MI : Natixis ups target to 5.9 euros from 5.06 euros; rating neutral  
    * Vedanta Resources  VED.L : SocGen cuts target price to 955p from 1110p; rating hold  
    * Whitbread Plc  WTB.L : Jefferies raises price target to 3600p from 2700p ;rating hold 
    * Wincor Nixdorf  WING.DE : HSBC ups target to 65 euros from 60 euros; rating overweight  
    * World Duty Free  WDF.MI : Natixis starts with neutral rating; price target of 9 euros 
    * Xaar PLC  XAR.L : Jefferies starts with buy; target 1265p 
    * Yandex  YNDX.O : UBS raises price target to $51 from $45.6; rating buy 
 
 
 (Compiled by Rachel Chitra in Bangalore) 
 ((Bangalore Equities Newsdesk +91 80 6749 1130)(within)(U.S. +1 646 223 8780)) 
 
Keywords: RESEARCH EUROPE/