Merrill Lynch has cut its 2002 earnings forecasts of Publicis, which drops from 1.6 to 1.5 euros per share. Expectations on sales in the first half for an increase of 1, 9% to 1.17 billion euros. The U.S. broker maintains a Buy rating on the stock with target lowered from 38 to 35 euros. Right now, Publicis swap to 25.85 euros (+3%).
Analysts at Schroder Salomon Smith Barney has raised its rating on Ericsson, from Underperform to Neutral. The target price is revised downwards by 23 instead of 18 Swedish kronor. The upgrade comes after a strong decline in prices, which have led the way to lose 70% YTD.
Analysts at Deutsche Bank have issued a Buy rating on the British title Diageo, with a target price to 1,000 pence. The beverage companies continue to show good growth in both the United Kingdom and the United States. The German broker has estimated sales growth around 9-10%, while earnings per share should increase over the next 3 years. At this time, Diageo exchanges 811 pence a share (+0.7%).
The Bank HSBC business has raised its recommendation on the sector of oil and gas in Europe, from Neutral to Overweight. The reasons for the upgrade to be found in the reasonable assessment of the oil groups, in the soundness and transparency of profits, the power budgets despite weak demand. Estimates earnings per share were raised an average of 5% for 2002, but lowered by the same percentage for 2003.
will amount to EUR 20 million loss that Tf1 back to the light of the elimination of the French national from the World Cup. And ‘This is the estimate made public today by analysts at Dresdner Kleinwort Wasserstein, which have nevertheless raised their rating on the title to buy from hold with a target price to 33.5 euros. DKW has linked that I upgrade to the ability of the issuer to be able to bring positive results in adverse market conditions. At this moment the shares are trading at 28.63 euros Tf1, down by 3.6% compared to yesterday.
Turn in the crisis Fiat. Paolo Cantarella resigned from the post of chief executive “to give a strong signal of discontinuity” was the explanation put forward by Cantarella itself. The responsibility for A.D. was assumed for the moment by Paolo Fresco, chairman of the group. Meanwhile, the U.S. rating agency Standard & Poor’s has removed the threat of downgrading short of confirming the previous trial Fiat A3.
Lehman Brothers has revised estimates for 2002 and for 2003 of IntesaBci after the results of the first quarter of this year. The race of the title in the wake of rumors of the change of management has reduced the growth potential of the stock related to the restructuring. According to the deteriorating outlook for the domestic market in Argentina and exposure to market perform opinion on the title remains. For 2002, Lehman Brothers foresees a net profit of 1.1273 billion euros against the previous estimate of 1.1291 billion euros. Also decreases the estimate of EPS of 0.16 from the previous 0.17. For 2003, earnings expectations are stabilized at 1.3831 billion euros against a previous estimate of 1.4023 billion and EPS declined to 01.9 from 0.20.
Expectations not quite positive for the quarterly Deutsche Telekom, which will be presented to the financial community tomorrow. “The situation of fixed telephony unclear (especially systems division), together with problems of T-Mobile’s subsidiary operating in the wireless industry, not militate in favor of the title,” said Simone Chelini, equity manager for Nextra, adding: ” I find some confusion even in numbers, due to changes in budgeted posts as a result of changes in activity in the various divisions. Then it will be impossible to compare ‘apples against apples’ and the confusion is not conducive to investment. ” Also on the front with little prospect of debt. “From the floor of divestitures do not expect much” continues Chelini. “The sale of property, announced as a sale for most pure, will be resolved in reality in a maxi-operation ’sale and lease-back’ (sales and contextual Re-renting) while reducing its debt load cost income statement . Even from cables, already put on sale, should get far less than estimated (something like 5 billion euros). I expect more weakness in that capacity until the summer. “Concludes Chelini.
Gust reviews Sanpaolo-Imi. The quarterly certainly not brilliant led some analysts to revise downward their judgments. After the downgrade of Morgan Stanley, Credit Lyonnais gave a rating “reduce” from “hold” with a price target to 12.4 euros. “We have revised downward the assessment because we fear a worsening of profitability for the whole of 2002,” the statement said. Centrosim, however, confirmed the recommendation to “outperform.” Positive for Fideuram Bank after completion of the acquisition of SanPaoloInvest. Sanpaolo-Imi yields 3.9% to 11.80 euros.
The first quarter revenues of Datalogic, which produces systems for reading bar codes, has increased slightly over the same period in 2001 totaled 29.14 million euros (+3 % per annum). Gross operating margin (EBITDA) reached 3.98 million (13.7% of revenues). The net financial position is positive for 27.94 million euros. this moment the license fee is unchanged at 11.4 euros.
© 2010 Finance News