-Swedbank keeps "strong buy" on Trelleborg after German JV plans.
NORDIC BUSINESS REPORT-January 18, 2011--Swedbank keeps "strong buy" on Trelleborg after German JV plans(C)2011 M2 COMMUNICATIONS http://www.m2.com
18 January 2011 - Swedbank Markets reaffirmed today its "strong buy" rating with a SEK85 share price target on Swedish engineering group Trelleborg AB (STO: TREL B), which yesterday unveiled plans to set up a 50/50 joint venture (JV) with German Freudenberg & Co.
The new entity will comprise the partners' operations for antivibration solutions for light- and heavy-duty vehicles.
The co-operation plans are good news as Trelleborg's broad geographical presence will be complemented by Freudenberg's broader product portfolio, according to Swedbank.
In addition, SEB Enskilda has raised its price target on Trelleborg to SEK90 from SEK80, reaffirming its "buy" rating.
At the same time, Danske Markets has cut its stance to "reduce" from "hold", while hiking the target to SEK65 from SEK50.
By 11:21 CET today, B-series shares in Trelleborg had climbed 1.39% to SEK76.60 on the stock exchange in Stockholm.
(EUR1 = SEK8.9)
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||Nordic Business Report|
|Date:||Jan 18, 2011|
|Previous Article:||-Peab to expand power plant in Swedish Orebro for SEK150m.|
|Next Article:||-Danske Bank upbeat on Bavarian Nordic.|