Friday May 9, 06:23 PM
Imperial Tobacco upgraded to "outperform"
By Credit Suisse
LONDON, May 9 (newratings.com) - Analyst R Fujimori of Credit Suisse upgrades Imperial Tobacco (LSE: IMT.L - news) (ticker: IMT-GBX) from "neutral"
to "outperform." The target price has been raised from 2,550p to 2,750p.
In a research note published this morning, the analyst mentions that the company's share price has outperformed that of BAT by 10% year-to-date. The analyst adds, however, that Imperial Tobacco is expected to achieve a higher EPS CAGR for 2007-2010 than BAT. A favourable international pricing scenario and positive forex effects are likely to give the company earnings flexibility to steer through weak industry volumes in Germany, France and UK in the short term, Credit Suisse adds.
© 2008 New Ratings
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