LONDON, October 10 (newratings.com) - Analysts at Kaupthing Bank upgrade Lindab AB (Stockholm:
LIAB.ST -
news) (ticker: L5E) from "reduce"
to "neutral," while reducing their estimates for the company. The target price has been reduced from SEK107 to SEK70.
In a research note published this morning, the analysts mention that the company's share price has fallen by about 45% since mid-August. Lindab is expected to report sales of SEK2.74 million and EBIT margins of 17.3% for 3Q08, the analysts say. The construction activity outlook for Europe is weakening rapidly and the company's sales are likely to decline significantly in 4Q, Kaupthing Bank adds.
© 2008 New Ratings
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