MS TOP RESEARCH PICKS FOR 2014
Airbus (AIR FP), Volkswagen (VOW3 GY), Wolseley (WOS LN), Smith Group (SMIN LN), Akzo (AKZA NA), Lloyds(LLLOY LN), UBS (UBSN VX), London Stock Exch(LSE LN), Aegon (AGN NA), Nestle (NESN VX), JEronimo MArtins (JMRN PL), Smith&Nephew (SN/LN), Boliden (BOL SS), SSAB (SSABA SS), Total (FP FP), TF1 (TFI FP), Ericsson (ERICB SS), SAP (SAP GY), Orange (ORA FP), Veolia (VIE FP), Drax (DRX LN), Go-ahead (GOG LN) Hays (AHS LN), Thomas Cook (TCG LN), Eurotunnel (GET FP)
Based on the year ahead pieces, other recent notes and price action, we think these names are set to deliver strong outperformance this year:
>>> AEROSPACE
Airbus (OW PT €59)
>>> AUTOS
VW (OW PT €220)
>>> BUILDING MATERIALS
Wolseley (OW PT 3,575GBp)
>>> CAPITAL GOODS
Smiths Group (OW, PT 1507.00GBp)
>>> CHEMICALS
Akzo (OW, PT €59)
>>> FINANCIALS
Banks- Lloyds (OW PT 100 GBp)
UBS (OW PT 21.00 CHF)
Div Fins- LSE (OW, PT 1795 GBp)
Insurance- AEGON (OW, PT €7.70)
>>> CONSUMER
Food- Nestle (OW CHF71.00)
HPC- SCA OW, (PT 195.00 SEK)
Food Retail- Jeronimo Martins (OW, PT €14.50)
>>> MEDTECH
Smith & Nephew- (OW, PT 904 GBp)
>>> METALS & MINING
Mining- Boliden (OW, PT 106 SEK)
Steel- SSAB (OW, PT 46 SEK)
>>> OIL & GAS
Total (OW, PT €50)
>>>TELCOS, MEDIA & TECHNOLOGY
Media- TF1 (OW, PT €16.15)
Semis/Telco Equipment- Ericsson (OW, PT 108 SEK)
Software- SAP (OW, PT €67.00)
Telcos- Orange (OW, PT €9.60)
>>> UTILITIES
Veolia (OW, PT €15.50)
Drax (OW PT 880 GBp)
>>> BUSINESS SERVICES, LEISURE AND TRANSPORT
Bus & Rail- Go Ahead (OW, PT 1,900GBp)
Business Services- Hays (OW, PT 150.00GBp)
Leisure- Thomas Cook (OW, PT 200 GBp)
Infrastructure- Eurotunnel (OW, PT €8.50)