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EUROPE RESEARCH ROUNDUP- ASML Holding, Novonesis, Rolls Royce

ReutersJun 26, 2025 2:56 PM

- Securities analysts revised their ratings and price targets on several European companies, including ASML Holding, Novonesis and Rolls Royce, on Thursday.

HIGHLIGHTS

ASML Holding NV ASML.AS: Jefferies cuts to hold from buy

FLSmidth FLS.CO: JP Morgan raises target price to DKK 450 from DKK 425

Novonesis NSISb.CO: Jefferies raises target price to DKK 540 from DKK 500

Rolls Royce RR.L: Kepler Cheuvreux cuts to hold from buy

Telenor TEL.OL: Berenberg reinitiates coverage with hold rating; price target NOK 138

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

Arbonia AG ARBNO.S: UBS cuts target price to CHF 5.7 from CHF 11

Alphawave IP Group Plc AWE.L: Jefferies cuts to hold from buy

Alphawave IP Group Plc AWE.L: Jefferies raises target price to 183p from 160p

AMG Critical Materials AMG.AS: Deutsche Bank initiates with buy rating and PT EUR 25

Antofagasta ANTO.L: Morgan Stanley cuts target price to 1690p from 1730p

Ariston Holding NV ARIS.MI: Morgan Stanley cuts target price to EUR 3.6 from EUR 3.7

ASMI ASMI.AS: Jefferies cuts to hold from buy; raises target to EUR 530 from EUR 490

ASML Holding NV ASML.AS: Jefferies cuts to hold from buy

ASML Holding NV ASML.AS: Jefferies raises target price to EUR 690 from EUR 660

British Land BLND.L: UBS cuts target price to 410p from 465p

British Land BLND.L: UBS cuts to neutral from buy

BT BT.L: Berenberg reinitiates coverage with buy rating; price target 240p

Carrefour CARR.PA: JP Morgan cuts target price to EUR 9 from EUR 10

Cellnex CLNX.MC: Berenberg reinitiates coverage with buy rating; price target EUR 46

Continental AG CONG.DE: Morgan Stanley cuts to equal weight from overweight

Continental AG CONG.DE: Morgan Stanley raises target price to EUR 77.4 from EUR 74

Danone DANO.PA: HSBC cuts target price to EUR 70 from EUR 71

Deutsche Telekom AG DTEGn.DE: Berenberg raises target price to EUR 37.20 from EUR 31

Dexelance SpA DEX.MI: Citigroup cuts target price to EUR 12.80 from EUR 14.80

E.ON SE EONGn.DE: Berenberg raises target price to EUR 18 from EUR 15.90

Edenred EDEN.PA: Citigroup cuts target price to EUR 27 from EUR 33

Elisa ELISA.HE: Berenberg reinitiates coverage with buy rating; price target EUR 54

Elkem ASA ELK.OL: Morgan Stanley raises target price to NOK 22 from NOK 21

Epiroc EPIRa.ST: JP Morgan raises target price to SEK 200 from SEK 185

EQT EQTAB.ST: Citigroup raises to buy from neutral; raises target SEK 335 from SEK 270

Exosens Sas EXENS.PA: Kepler Cheuvreux cuts to reduce from hold

FLSmidth FLS.CO: JP Morgan raises target price to DKK 450 from DKK 425

Forvia FRVIA.PA: Morgan Stanley cuts target price to EUR 9.1 from EUR 11

Fuchs SE FPEn.DE: Jefferies initiates coverage with buy rating; target price EUR 58

Heidelberg Materials HEIG.DE: UBS raises target price to EUR 188 from EUR 168

Huhtamaki Oyj HUH1V.HE: UBS initiates coverage with buy rating

IAG ICAG.L: Bernstein raises to outperform from market-perform

IAG ICAG.L: Bernstein raises target price to 450p from 300p

Icade SA ICAD.PA: Citigroup cuts target price to EUR 33.40 from EUR 40

Infrastrutture Wireless Italiane SpA INWT.MI: Berenberg reinitiates with buy rating; PT EUR 12.30

Inpost SA INPST.AS: JP Morgan cuts target price to EUR 16 from EUR 18.70

Inpost SA INPST.AS: JP Morgan raises to overweight from neutral

Intrum AB INTRUM.ST: JP Morgan raises target price to SEK 46 from SEK 45

Italgas IG.MI: Berenberg cuts to hold from buy; raises target price to EUR 7 from EUR 6.30

Italgas IG.MI: Morgan Stanley assumes coverage with overweight rating; target EUR 8.10

JP Morgan European Discovery Trust Plc JEDT.L: Stifel raises to positive from neutral

Kering PRTP.PA: Deutsche Bank cuts target price to EUR 170 from EUR 177

Koninklijke Ahold Delhaize NV AD.AS: JP Morgan cuts target to EUR 24.24 from EUR 25.42

Koninklijke Philips N.V. PHG.AS: Barclays cuts target price to EUR 27.5 from EUR 28

KPN KPN.AS: Berenberg reinitiates coverage with buy rating; price target EUR 4.78

Liontrust LIO.L: Deutsche Bank cuts target price to 350p from 400p

Michelin MICP.PA: Deutsche Bank cuts target price to EUR 37 from EUR 40

Moonpig Group Plc MOONM.L: JP Morgan raises target price to 275p from 250p

Next 15 Group Plc NFGN.L: Berenberg cuts target price to 580p from 660p

Next 15 Group Plc NFGN.L: Panmure Liberum cuts target price to 329p from 382p

Next 15 Group Plc NFGN.L: Peel Hunt cuts target price to 435p from 520p

Novonesis NSISb.CO: Jefferies raises target price to DKK 540 from DKK 500

Opmobility SE OPM.PA: Morgan Stanley cuts target price to EUR 10.2 from EUR 13.4

Opmobility SE OPM.PA: Morgan Stanley cuts to underweight from overweight

Orange SA ORAN.PA: Berenberg initiates coverage with buy rating; price target EUR 15

Philogen SpA PHIL.MI: Stifel cuts target price to EUR 27 from EUR 31

Proximus NV PROX.BR: Berenberg initiates coverage with buy rating; price target EUR 11.10

Qiagen NV QIA.DE: BofA Global Research raises price objective to EUR 45 from EUR 44

Rexel SA RXL.PA: Barclays raises target price to EUR 31 from EUR 27

Rolls Royce RR.L: Kepler Cheuvreux cuts to hold from buy

Rolls Royce RR.L: Kepler Cheuvreux raises target price to 952p from 765p

SES SA SESFd.PA: Berenberg reinitiates coverage with buy rating; price target EUR 9.60

Siegfried Holding AG SFZN.S: Stifel adjusts PT to CHF 95 from CHF 975 to reflect 1:10 stock split

Siemens Energy AG ENR1n.DE: Morgan Stanley raises target price to EUR 92 from EUR 90

Spectris SXS.L: UBS raises target price to 3763p from 2800p

Sunrise Communications AG SUNN.S: Berenberg initiates with hold rating; target CHF 49

Swisscom AG SCMN.S: Berenberg reinitiates coverage with hold rating; target CHF 569

Tele2 AB TEL2b.ST: Berenberg reinitiates coverage with hold rating; target SEK 125

Telecom Italia TLIT.MI: Berenberg initiates coverage with buy rating; target EUR 0.52

Telefonica TEF.MC: Berenberg initiates coverage with hold rating; price target EUR 4.30

Telenor TEL.OL: Berenberg reinitiates coverage with hold rating; price target NOK 138

Telia TELIA.ST: Berenberg reinitiates coverage with hold rating; price target SEK 31

THG Plc THG.L: Barclays cuts target price to 33p from 74p

Trigano SA: Portzamparc cuts target price to EUR 178 from EUR 188; rating "buy"

Trigano SA TRIA.PA: UBS raises target price to EUR 165 from EUR 148

Valeo SE VLOF.PA: Morgan Stanley raises target price to EUR 11.3 from EUR 9

Valeo SE VLOF.PA: Morgan Stanley raises to overweight from underweight

Vodafone VOD.L: Berenberg reinitiates coverage with hold rating; price target 80p

Volex Plc VLX.L: Peel Hunt raises target price to 380p from 365p

Zegona Communications Plc ZEG.L: Berenberg initiates with buy rating; target 1000p

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