EUROPE RESEARCH ROUNDUP-Azelis, Heineken, Wacker Chemie

Reuters
Nov 28, 2025
EUROPE RESEARCH ROUNDUP-Azelis, Heineken, Wacker Chemie

Nov 28 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including Azelis, Heineken and Wacker Chemie on Friday.

HIGHLIGHTS

* Azelis AZE.BR: JP Morgan cuts to neutral from overweight

* Cellnex CLNX.MC: JP Morgan cuts target price to EUR 32 from EUR 43

* Enel ENEI.MI: HSBC raises target price to EUR 9.2 from EUR 8.8

* Heineken HEIN.AS: Deutsche Bank raises to buy from hold

* Wacker Chemie AG WCHG.DE: JP Morgan cuts target price to EUR 50 from EUR 60

Following is a summary of research actions on European companies reported by Reuters on Friday. Stock entries are in alphabetical order.

* ABN Amro Bank NV ABNd.AS: RBC raises target price to EUR 36 from EUR 34

* ACS, Actividades de Construcción y Servicios, S.A.ACS.MC: Barclays raises PT to EUR 78 from EUR 50

* Addtech ADDTb.ST: Goldman Sachs initiates coverage with buy rating

* Anheuser-Busch Inbev ABI.BR: Deutsche Bank cuts target price to EUR 59 from EUR 64

* Anheuser-Busch Inbev ABI.BR: Deutsche Bank cuts to hold from buy

* Aramis Group Sas ARAMI.PA: Bernstein cuts target price to EUR 9 from EUR 11.6

* Azelis AZE.BR: JP Morgan cuts target price to EUR 10 from EUR 16

* Azelis AZE.BR: JP Morgan cuts to neutral from overweight

* BAT BATS.L: Citigroup raises target price to 4850p from 4450p

* Bilfinger GBFG.DE: Deutsche Bank raises target price to EUR 115 from EUR 105

* Boohoo DEBS.L: Barclays cuts target price to 11p from 13p

* Bouygues BOUY.PA: JP Morgan raises target price to EUR 57 from EUR 56

* Brenntag SE BNRGn.DE: JP Morgan cuts target price to EUR 44 from EUR 45.4

* British American Tobacco BATS.L: Deutsche Bank raises PT to 4900p from 4400p

* Burberry BRBY.L: JP Morgan cuts to underweight from neutral

* Burberry BRBY.L: JP Morgan raises target price to 950p from 850p

* Carlsberg CARLb.CO: Deutsche Bank cuts target price to DKK 1130 from DKK 1160

* Cd Projekt CDR.WA: Deutsche Bank raises target price to PLN 240 from PLN 230

* Cellnex CLNX.MC: JP Morgan cuts target price to EUR 32 from EUR 43

* Cellnex Telecom CLNX.MC: Barclays cuts target price to EUR 33 from EUR 35

* Coca-Cola Europacific Partners CCEPC.L: Deutsche Bank raises PT to 8340p from 8120p

* Coca-Cola Hellenic CCH.L: Deutsche Bank cuts target price to 4470p from 4485p

* Compass Group CPG.L: Deutsche Bank raises target price to 3000p from 2900p

* Computacenter Plc CCC.L: Kepler Cheuvreux cuts to hold from buy

* Computacenter Plc CCC.L: Kepler Cheuvreux raises target price to 3000p from 2850p

* Continental AG CONG.DE: Morgan Stanley raises target price to EUR 58 from EUR 54.8

* Cucinelli BCU.MI: JP Morgan raises target price to EUR 130 from EUR 125

* Deutsche Telekom AG DTEGn.DE: JP Morgan cuts target price to EUR 39 from EUR 43.5

* Diageo DGE.L: Deutsche Bank cuts target price to 1790p from 1840p

* Domino's Pizza Group DOM.L: UBS cuts target price to 190p from 270p

* Domino's Pizza Group DOM.L: UBS cuts to neutral from buy

* EasyJet EZJ.L: Bernstein raises target price to 560p from 520p

* EasyJet EZJ.L: Bernstein raises to outperform from market perform

* Elisa ELISA.HE: JP Morgan cuts target price to EUR 39 from EUR 48

* Enel ENEI.MI: HSBC raises target price to EUR 9.2 from EUR 8.8

* Entain ENT.L: Berenberg cuts target price to 1200p from 1400p

* Essentra Plc ESNT.L: Peel Hunt cuts target price to 201p from 230p

* Essilorluxottica SA ESLX.PA: JP Morgan raises target price to EUR 345 from EUR 300

* Eutelsat ETL.PA: JP Morgan cuts target price to EUR 1.9 from EUR 2.8

* Eutelsat ETL.PA: JP Morgan raises to neutral from underweight

* Evoke Plc EVOK.L: Berenberg cuts to hold from buy; cuts target price to 33p from 95p

* Evonik Industries AG EVKn.DE: JP Morgan cuts target price to EUR 14 from EUR 20

* Evonik Industries AG EVKn.DE: JP Morgan cuts to neutral from overweight

* Flsmidth & Co. A/S FLS.CO: Barclays cuts target price to DKK 372 from DKK 404

* Generali GASI.MI: Berenberg raises target price to EUR 37.5 from EUR 36.1

* Gjensidige Forsikring GJFG.OL: Goldman Sachs initiates coverage with buy rating

* Halma HLMA.L: Exane BNP Paribas initiates coverage with PT 3950p

* Halma HLMA.L: Exane BNP Paribas initiates coverage with neutral rating

* HBX Group International HBX.MC: Barclays raises PT to EUR 12.7 from EUR 10.8

* Heineken HEIN.AS: Deutsche Bank raises target price to EUR 84 from EUR 74

* Heineken HEIN.AS: Deutsche Bank raises to buy from hold

* Hochtief AG HOTG.DE: Barclays raises target price to EUR 280 from EUR 158

* IMCD NV IMCD.AS: JP Morgan cuts target price to EUR 82 from EUR 130

* IMCD NV IMCD.AS: JP Morgan cuts to neutral from overweight

* IMI Plc IMI.L: Exane BNP Paribas initiates coverage with target price 3100p

* IMI Plc IMI.L: Exane BNP Paribas initiates coverage with outperform rating

* Indra IDR.MC: JP Morgan resumes coverage with neutral rating

* Indra IDR.MC: JP Morgan resumes coverage with price target EUR 50

* Indutrade INDT.ST: Goldman Sachs initiates coverage with price target SEK 255

* Indutrade INDT.ST: Goldman Sachs initiates coverage with neutral rating

* Infrastrutture Wireless Italiane INWT.MI: JP Morgan cuts PT to EUR 10 from EUR 11.8

* Init Innovation In traffic systems SE IXXG.DE: Berenberg initiates coverage with buy rating

* Init Innovation In traffic systems SE IXXG.DE: Berenberg initiates coverage with PT EUR 61

* Johnson Matthey JMAT.L: JP Morgan raises target price to 2250p from 1860p

* Johnson Matthey JMAT.L: JP Morgan raises to overweight from neutral

* Kering PRTP.PA: JP Morgan raises target price to EUR 235 from EUR 200

* Knorr Bremse AG KBX.DE: Goldman Sachs initiates coverage with buy rating

* Komax KOMN.S: UBS cuts target price to CHF 68 from CHF 150

* Komax KOMN.S: UBS cuts to neutral from buy

* KPN KPN.AS: JP Morgan cuts target price to EUR 4.6 from EUR 5

* KPN KPN.AS: JP Morgan cuts to neutral from overweight

* Lifco LIFCOb.ST: Goldman Sachs initiates coverage with price target SEK 371

* Lifco LIFCOb.ST: Goldman Sachs initiates coverage with neutral rating

* LVMH LVMH.PA: JP Morgan raises target price to EUR 610 from EUR 545

* Moncler MONC.MI: JP Morgan raises target price to EUR 70 from EUR 58

* Moncler MONC.MI: JP Morgan raises to overweight from neutral

* Mowi MOWI.OL: Berenberg raises to buy from hold; raises PT to NOK 260 from NOK 215

* Ninety One Plc N91.L: JP Morgan cuts target price to 222p from 226p

* Novonesis NSISb.CO: JP Morgan raises target price to DKK 560 from DKK 512

* Orange SA ORAN.PA: JP Morgan raises target price to EUR 19 from EUR 17.5

* Proximus NV PROX.BR: JP Morgan raises target price to EUR 10.88 from EUR 7.8

* Proximus NV PROX.BR: JP Morgan raises to overweight from neutral

* Rational AG RAAG.DE: Goldman Sachs initiates coverage with buy rating

* Rémy Cointreau RCOP.PA: Barclays cuts target price to EUR 34 from EUR 35

* Remy Cointreau RCOP.PA: Bernstein cuts target price to EUR 65 from EUR 67

* Remy Cointreau RCOP.PA: Deutsche Bank raises target price to EUR 32 from EUR 31

* Richemont CFR.S: JP Morgan raises target price to CHF 200 from CHF 190

* Rockwool ROCKb.CO: Barclays cuts target price to DKK 285 from DKK 300

* Rockwool ROCKb.CO: Bernstein cuts target price to DKK 270 from DKK 300

* Rockwool ROCKb.CO: Citigroup cuts target price to DKK 220 from DKK 260

* Rockwool ROCKb.CO: Morgan Stanley cuts target price to DKK 299 from DKK 307

* Rotork Plc ROR.L: Exane BNP Paribas initiates coverage with target price 370p

* Rotork Plc ROR.L: Exane BNP Paribas initiates coverage with neutral rating

* Royal Unibrew RBREW.CO: Deutsche Bank raises target price to DKK 640 from DKK 635

* Sacyr S.A. SCYR.MC: Barclays raises target price to EUR 4.3 from EUR 4.1

* Salvatore Ferragamo SpA SFER.MI: JP Morgan raises target price to EUR 7.5 from EUR 4.6

* Salvatore Ferragamo SpA SFER.MI: JP Morgan raises to neutral from underweight

* Sampo SAMPO.HE: Goldman Sachs raises to neutral from sell -

* SES SA SESFd.PA: JP Morgan resumes coverage with overweight rating; PT EUR 10

* SGS SA SGSN.S: Berenberg raises target price to CHF 112 from CHF 100

* Sika SIKA.S: Barclays raises target price to CHF 185 from CHF 170

* Sika SIKA.S: Barclays raises to equal-weight from underweight

* Sinch AB SINCH.ST: JP Morgan raises target price to SEK 45 from SEK 43

* Smiths Group SMIN.L: Exane BNP Paribas initiates coverage with target price 3000p

* Smiths Group SMIN.L: Exane BNP Paribas initiates coverage with outperform rating

* Sodexo EXHO.PA: Jefferies cuts target price to EUR 44 from EUR 47

* Softcat Plc SCTS.L: Kepler Cheuvreux cuts target price to 1500p from 1750p

* Softcat Plc SCTS.L: Kepler Cheuvreux raises to hold from reduce

* Softwareone Holding Ltd SWON.S: Berenberg initiates coverage with buy rating

* Softwareone Holding Ltd SWON.S: Berenberg initiates coverage with price target CHF 11

* Sonova SOON.S: UBS cuts target price to CHF 215 from CHF 234

* Spirax-Sarco SPX.L: Exane BNP Paribas initiates coverage with target price 7250p

* Spirax-Sarco SPX.L: Exane BNP Paribas initiates coverage with neutral rating

* Sunrise Communications AG SUNN.S: JP Morgan cuts target price to CHF 37 from CHF 46

* Sunrise Communications AG SUNN.S: JP Morgan cuts to underweight from neutral

* Surgical Science Sweden AB SUSW.ST: Berenberg cuts PT to SEK 40 from SEK 120

* Swatch Group AG UHR.S: JP Morgan raises target price to CHF 125 from CHF 110

* Swisscom AG SCMN.S: JP Morgan raises target price to CHF 530 from CHF 525

* Telenor TEL.OL: JP Morgan cuts target price to NOK 170 from NOK 185

* Telenor TEL.OL: JP Morgan cuts to neutral from overweight

* Telia TELIA.ST: JP Morgan raises target price to SEK 46 from SEK 40

* Telia TELIA.ST: JP Morgan raises to overweight from neutral

* Terna TRN.MI: Berenberg raises target price to EUR 9 from EUR 8

* Trelleborg TRELb.ST: Goldman Sachs initiates coverage with buy rating

* Truecaller AB TRUEb.ST: JP Morgan cuts target price to SEK 39 from SEK 73

* Tryg TRYG.CO: Goldman Sachs initiates coverage with sell rating

* Umicore SA UMI.BR: JP Morgan raises target price to EUR 19 from EUR 16.2

* Uniqa Insurance Group UNIQ.VI: UBS raises target price to EUR 14.9 from EUR 12.5

* Unite Group UTG.L: Barclays cuts target price to 615p from 725p

* Veolia VIE.PA: JP Morgan raises target price to EUR 33 from EUR 32.4

* Vesuvius Plc VSVS.L: Exane BNP Paribas initiates coverage with target price 385p

* Vesuvius Plc VSVS.L: Exane BNP Paribas initiates coverage with neutral rating

* Vodafone VOD.L: JP Morgan raises target price to 71p from 62p

* Wacker Chemie AG WCHG.DE: JP Morgan cuts target price to EUR 50 from EUR 60

* Wacker Chemie AG WCHG.DE: JP Morgan cuts to underweight from neutral

* Watches of Switzerland Group WOSG.L: Deutsche Bank raises PT to 550p from 450p

* Weir Group WEIR.L: Exane BNP Paribas initiates coverage with target price 3450p

* Weir Group WEIR.L: Exane BNP Paribas initiates coverage with outperform rating

* Whitbread WTB.L: Bernstein cuts target price to 2,500p from 3,600p

* Whitbread WTB.L: Bernstein cuts to underperform from outperform

* Zegona Communications Plc ZEG.L: Berenberg raises target price to 1600p from 1350p

(Compiled by Bengaluru Newsroom)

((Diaries@thomsonreuters.com))

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