Barclays European Morning Research Summary

Research evidence excerpt

Barclays European Morning Research Summary

Summary of Changes

Rating Price Target EPS FY1 (E) EPS FY2 (E)

Rating Changes Old New Old New Old New Old New

Travis Perkins TPK.L OW UW 8.60 4.61 0.35 0.25 0.47 0.30

Target Price Changes

Banca Generali BGN.MI OW OW 70.50 76.50 3.39 3.47 3.68 3.79

Boliden BOL.ST OW OW 700.00 690.00 42.69 40.57 62.51 62.23

Breedon Group BREE.L OW OW 4.50 3.80 0.33 0.30 0.38 0.35

Centrica CNA.L OW OW 2.50 2.40 0.13 0.12 0.16 0.16

Fineco FBK.MI OW OW 27.10 28.40 1.08 1.08 1.17 1.20

HSBC Holdings PLC HSBA.L OW OW 16.00 16.50 1.77 1.79 2.02 2.03

Lindt & Spruengli LISN.S UW UW 95000.00 89000.00 3224.93 3287.39 3470.38 3526.08

Mediolanum BMED.MI OW OW 23.50 24.80 1.40 1.43 1.46 1.49

MONY Group MONY.L OW OW 2.15 2.25 0.19 0.19 0.21 0.21

Novartis NOVN.S EW EW 120.00 125.00 8.70 8.88 9.40 9.57

PKO Bank Polski SA PKO.WA EW EW 92.00 95.00 8.80 8.61 10.43 10.38

Standard Chartered PLC STAN.L EW EW 21.00 22.50 2.25 2.38 2.75 2.84

Swedbank SWEDa.ST EW EW 313.00 320.00 27.83 28.35 29.06 29.81

Wartsila WRT1V.HE UW UW 18.00 19.00 1.05 1.05 1.11 1.10

Estimate Changes

Azimut AZMT.MI EW EW 35.10 35.10 3.33 3.25 3.92 3.93

Bank Pekao PEO.WA OW OW 252.00 252.00 22.51 22.31 27.04 26.40

Compass Group PLC CPG.L OW OW 42.00 42.00 1.48 1.48 1.62 1.61

Danaher Corp. DHR OW OW 230.00 230.00 8.46 8.47 9.11 9.49

Howden Joinery Group HWDN.L OW OW 9.80 9.80 0.51 0.51 0.54 0.55

Rosebank Industries PLC ROSE.L OW OW 4.75 4.75 0.21 0.21 0.27 0.28

Saudi Aramco 2222.SE OW OW 31.00 31.00 2.06 1.96 1.88 1.88

Schindler Holding SCHP.S OW OW 320.00 320.00 10.93 10.87 11.70 11.79

Svenska Handelsbanken SHBa.ST UW UW 118.00 118.00 11.30 11.44 11.73 11.86

Vår Energi VAR.OL OW OW 50.00 50.00 0.50 0.56 0.44 0.44

Source & Legend

Company Research

Airbus (AIR.PA) Boliden (BOL.ST) Centrica (CNA.L)