Thursday May 8, 11:20 AM
Wienerberger downgraded to "hold"
By Deutsche Bank
LONDON, May 8 (newratings.com) - Analyst Roland Neuwirth of Deutsche Bank (Frankfurt: DB9999 - news) downgrades Wienerberger (ticker: WIB)
from "buy" to "hold." The target price has been reduced from E58 to E40.
In a research note published this morning, the analyst mentions that the company has posted robust 1Q08 results. The macro situation in the US and UK markets continues to worsen, Deutsche Bank adds. While Wienerberger's acquisitions give an impression that the company is growing, they are adversely impacting the company's net income, the analyst says.
© 2008 New Ratings
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