Thursday May 8, 02:49 PM
Lundbeck upgraded to "hold"
By Danske Securities
LONDON, May 7 (newratings.com) - Analyst Martin Parkhøi of Danske Securities upgrades Lundbeck A/S (ticker: LDB) from "reduce" to "hold," while raising his estimates for the company. The target price has been raised from DKK115 to DKK135.
In a research
note published this morning, the analyst mentions that the company has posted stellar 1Q results, with sales and margins ahead of expectations. Lundbeck (Copenhagen: LUN.CO - news) 's sales are tracking ahead the 2008 guidance of DKK11-DKK11.5 billion. Although Lundbeck's costs are likely to rise in the upcoming quarters, the company has already achieved one-third of its EBIT guidance for the full year, the analyst says. The EPS estimates for 2008, 2009 and 2010 have been raised by 6%, 5% and 5%, respectively.
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