Monday May 5, 08:10 PM
ItN Nanovation downgraded to "hold"
By UniCredit Markets & Investment Banking
LONDON, May 5 (newratings.com) - Analyst Markus Mayer of UniCredit Markets & Investment Banking downgrades ItN Nanovation AG (Frankfurt: A0JL46 - news)
(ticker: I7N) from "buy" to "hold." The target price has been reduced from E22 to E10.
In a research note published this morning, the analyst mentions that the company has reported weaker-than-expected FY07 results. The results were negatively impacted by the termination of ItN Nanovation's exclusivity contract with BSH and by product adaptations due to specific customer requirements for the Nanocomp MC and Nanopore product lines, the analyst adds. This implies that the company's potential sales for 2007 have been delayed to 2008, UniCredit Markets & Investment Banking says.
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