DrKW Upgrades Pilkington To Hold From Sell

Dresdner Kleinwort Wasserstein ups Pilkington (PILK.LN) to hold from sell, raises target price to 163p from 140p due to ongoing takeover discussions and following a sector re-rating.

Factors in an 80% chance of a deal being struck with NSG (5202.TO) at a strongly suggested 165p level. "We have a new non-deal target price of 156p and a new takeout price of 185p suggesting that Pilkington could be well be sold too cheaply, giving an effective free option on the takeout." Shares trade +0.5% at 157.75.

600450 DrKW Upgrades Pilkington To Hold From Sell glassonweb.com
Date: 15 February 2006
Source: Newratings.com

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