Global Broker Ratings
Our global broker ratings cover the main equities listed in Europe, the US, Australia and South Africa. The report helps you identify listed companies affected by a ratings change.
12 September 2012
Listed below are details of selected companies that have undergone a ratings change today. Click on the attached pdf to see the full list.
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| Company | Rating | Target Price | Potential Upside/ Downside | Contributing Broker |
|---|---|---|---|---|
| Salzgitter AG (Germany) | Buy | 40 | 19.0% | Main First Bank AG |
| Renault SA (France) | Reduce | 38 | -3.6% | AlphaValue |
| Federated Investors Inc (US) | Neutral/Neutral | 20 | -4.9% | Goldman Sachs |
Maintain
| Company | Rating | Target Price | Potential Upside/ Downside | Contributing Broker |
|---|---|---|---|---|
| Terna Energy SA (Greece) | Overweight | 3.71 | 129.0% | Euroxx Securities |
| Fomento de Construcciones y Co (Spain) | Buy | 16.8 | 57.7% | Bankia Bolsa (ESN) |
| Iberdrola SA (Spain) | Buy | 5.35 | 47% | Bankia Bolsa (ESN) |
Downgrade
| Company | Rating | Target Price | Potential Upside/ Downside | Contributing Broker |
|---|---|---|---|---|
| Telecom Italia SpA (Italy) | Hold | 0.9 | 6.8% | Independent Research GmbH |
| Inditex SA (Spain) | Neutral | 92.5 | 5.6% | Banesto Bolsa SA Sociedad |
| Banco Popolare SCItaly | Neutral | 1.4 | 5.2% | Exane BNP Paribas |
Source: Bloomberg (12 September 2012)
Ratings definitions:
- Outperform or overweight: the contributing broker predicts the share price of a security will perform better than a specific benchmark
- Underperform or underweight: a security will fare worse than a specific benchmark
- Upgrade and downgrade: a broker's last rating
- Maintain: a broker has maintained or reiterated a recommendation
- New rating: an analyst has initiated coverage on a stock
- Neutral or in-line recommendation: the broker expects a security's share price to match the performance of a benchmark
- Price target: the value a contributing broker expects the share price to reach (generally within a 12-month period). Recommendations are not always accompanied by a price target
- Last price: the market share price at the time of writing the update
- Potential upside/downside: the 'potential' percentage gain or loss that could result if a contributing broker's price target is reached. The percentage gain or loss is calculated based on the last price
- Contributing broker: refers to the investment management firm providing the recommendation and price target
Disclaimer: IG Index provides an execution-only service. The material above does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Index accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of the above information. Consequently any person acting on it does so entirely at his or her own risk. The research does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. This communication must not be reproduced or further distributed.