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-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)

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Publication:Nordic Business Report
Date:Jan 18, 2011
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