Europe research roundup: Fresenius, L'Oreal, SAP
SAP•Analysts revised ratings and price targets for European companies, including raising SAP's target to EUR 250 from EUR 220, L'Oreal's to EUR 470 from EUR 435 and Fresenius's to EUR 54 from EUR 50.
1. Selected analyst changes
Analysts revised ratings and price targets on numerous European companies. Jefferies raised its target for SAP to EUR 250 from EUR 220; Citigroup raised its target for L'Oreal to EUR 470 from EUR 435; and Berenberg raised its target for Fresenius to EUR 54 from EUR 50.
2. Other notable revisions
Citigroup raised KBC Groep's rating to buy from neutral while cutting its target to EUR 136 from EUR 140. Deutsche Bank raised Roche's target to CHF 500 from CHF 340 and its rating to buy from hold. Several analysts cut targets for Be Semiconductor Industries and Kering.
