Wednesday March 18, 12:13 PM
Glance-STOCKS NEWS EUROPE-Zodiac falls as analysts cut targets
STOCKS NEWS Reuters Results diary
Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
11:55GMT 18mar2009-Zodiac (Paris: FR0000125684 - news) falls as analysts cut targets
-------------------------------------------------------
Shares in Zodiac fall as much as 3.4 percent after analysts at
Societe Generale (Paris: FR0000130809 - news) and UBS (Virt-X: UBSN.VX - news) cut their price targets on the stock a day after the
French aerospace supplier says it will have to cut its full-year operating
profit forecast.
'We fear worse is still to come,' Societe Generale analysts write, adding
that lower aircraft production and weak air traffic will hurt the group. 'The
deteriorating environment gives us cause to think that this is not the last
downgrade.'
Societe Generale analysts cut their target price for the shares to 18 euros
from 23 euros and keep their 'sell' rating. UBS analysts downgrade Zodiac to
'sell' from 'neutral' and cut their target price to 21 euros from 32 euros.
Shares in Zodiac are 3 percent lower at 20.40 euros at 1150 GMT, giving it a
market value of some 1.1 billion euros.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
