analyst
Tod’s in slight, exchange at 45 euros
Exchange at 45 euros share the title of the Tod’s. The listing of the company led by Diego della Valle marks a slight decline of 0.16% in contrast with the indices of Piazza Affari. The group likes to analysts even if it suffers the effects of global crisis. The luxury is in fact among the sectors most adversely affected because of the collapse of American tourism, for fear of attacks, and the crisis in Japan.
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Bulgarians, to buy for the long term
Among the worst securities Square is Bulgari Affairs. The title of the house of Roman jewelry travels to 6.25 euro falling more than 1%. “Bulgari is to buy at these prices, but only in the long term,” says one analyst, “It ’still in a critical stage because the luxury sector, hampered by declining tourism and the Japanese crisis.”
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B. Sella: “The negative trend seems to be terminated”
“The picture remains negative despite the technical rebound today,” said Maurizio Milan, technical analyst for Banca Sella. “The descent seems to be over, and this is confirmed by a graphical analysis of the last sessions. The weekly candlestick for example, we see a strong bearish momentum that has so far not produced any sign of reversal. Even Intermarket analysis, we note that the descent of the awards for days now accompanied by weakness of the dollar, is that the yen against the euro, and this only serves to confirm our theories. ” The pull back today is seen as a lull before a new thrust. “The rebound Mib30 could go up to 28,000 or maybe up to 28500/28800, but the rebound should be used to reduce exposure on equity or at most for trading operations faster. The continuation of the descent, which we consider highly probable implies at this point the breakout of 26,000 shares and the minimum testing in September, minimum target of downtrend.
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KBC confirms buy-Earnings, target drops to $ 35
Analysts at KBC Securities maintained a Buy recommendation on the title but STMicroelectronics lowered its price target 40 to $ 35 after the recent fall in prices (the action has lost 30% of the NYSE in recent 3 months). Nokia, which is the largest customer STMicro, Intel and the U.S. are expected to upgrade the current quarter and analysts fear a disappointment by both companies, with negative repercussions on the entire technology sector. Also, weighing on the French / Italian group the next schedule of lock-up. Nevertheless, KBC believes that STmicroelectronics is the best title of its sector, with financial situation is reassuring, a strong growth forecast in terms of sales and high investment spending on capital (CAPEX). Right now, STMicro shares are traded in Milan at 26.82 euros (-4.04%).
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Fiat, starting with the hand brake on
False start for the title of the Lingotto. Fiat is in fact losing more than 1% share falling below 13.10 euros. The wait for the judgments of rating agencies on the debt of Fiat and the bailout plan, judged by many analysts as a straightforward and simple operation “buffer” does not brighten the sky on the title of Lingotto.
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BNP reiterates outperform on Vodafone, target to 135p
Emmet Kelley analyst at BNP Paribas has maintained an Outperform recommendation on Vodafone, with a target price of 135 pence. Kelley welcomes the operating results of the company with free cash flow, which stood at 2.4 billion pounds (50% more than the estimates). Investments (CAPEX) decreased but remains higher than expected. The analyst also liked the operating margin in the United Kingdom reached 37% in the second half, a good result considering the high level of competitiveness (many analysts had expected the 34-35%). At this moment, Vodafone is traded in London at 109 pence a share (+3.8%), well below the maximum intraday 113.75 pence.
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Soars Saeco, buy Commerzbank
The upgrade of Commerzbank is making the wings Saeco: +5.23% with the title passing from hand to 3.18 euros. Volumes more than double the daily average. German investment bank analysts have raised the credit rating, raising it from “hold” to “buy”, but also its price target (from 3 to 3.5 Euros).
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Infineon, for Aurel Leven and ‘Sell
The research department of Aurel Leven reiterated its view of “sell” on the title of Germany’s Infineon, born from a spin-off of giant Siemens. The company incurred losses and analysts still appear preuccupati perspectives on the field of DRAM. Also in the future there will be a renewed downward pressure on price movements, which may further compress margins.
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Morgan Stanley negative on Alitalia
Morgan Stanley confirmed the negative opinion on Alitalia. The title of the Italian airline is assigned a target of 0.45 euros compared to the current value of 1.019 euros. Morgan Stanley analysts note that revenues and operating profit in the third quarter of 2001 year will be roughly in line with the same period in 2000 and have estimated an operating loss of 388 million euros for 2001.
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Goldman Sachs cuts estimates on targeted BNL
Analysts Office study on targeted Goldman Sachs cut estimates for 2001 BNL 0.24 to 0.22 euros. Investment bank analysts nonetheless confirm the assessment of market outperform on the title of the institution’s bank capital.
