Schindler Holding "underweight," target price raised
24.04.08 - J.P. Morgan Securities
LONDON, April 24 (newratings.com) - Analysts at JP Morgan maintain their "underweight" rating on Schindler Holding AG (SHRQ), while raising their estimates for the company. The target price has been raised from CHF74 to CHF77.
In a research note published this morning, the analysts mention that the company has posted its 1Q sales broadly in-line with expectations. Schindler Holding?s margins were robust in the quarter and EBIT was significantly ahead of the estimates and the consensus, the analysts say. The EPS estimates for 2008 and 2009 have been raised from CHF4.93 to CHF5.18 and from CHF5.75 to CHF5.87, respectively.
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