European broker round-up

Date: Friday 06 Jul 2012

- Acerinox: Société Générale recommends HOLD and lowers price target to €9 from €10.50.

- ArcelorMittal: UBS recommends BUY; Societe Generale recommends HOLD and lowers price target to €14 from €13; HSBC downgrades to NEUTRAL from overweight and lowers price target to €14.50 from €15.10.

- Banco Popular: HSBC downgrades to UNDERWEIGHT from neutral with a price target of €1.61

- BBVA: HSBC downgrades to NEUTRAL with a price target of €6.

- Grifols: Citi recommends BUY.

- Publicis: CM-CIC reiterates BUY with a price target of €46.

- Société Générale: Natixis reiterates BUY recommendation with a price target of €22.70.

MJ

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