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Akzo Nobel N.V.
AKZOY.PKISIN: US0101993055SEDOL: 2011936 |
Rating: SELL |
Target Price: 34.14 USD |
Investment Horizon: 6 to 12 months |
Company News Alert
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On 07 January 2009, Akzo Nobel N.V’s (Akzo Nobel) common stock achieved our target price. Given that our fundamental outlook is unchanged, we believe the common stock’s upside potential has been exhausted at current levels and therefore downgrade our rating for the stock from a BUY to a HOLD. We will reassess the common stock rating for Akzo Nobel once the company releases its FY 2008 results. Given a recent appreciation in the…
3Q 08 Update Report
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During 3Q 08, Akzo Nobel N.V’s (Akzo Nobel) revenues grew marginally, as higher price realization was offset by the appreciating euro against the US dollar, coupled with lower sales volume. However, operating and net income declined y-o-y as the stronger euro dented net margin, which was further impacted by a higher effective tax rate. Slowing demand for paints and coatings from key consuming industries such as housing and automotive…
Company News Alert
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Akzo Nobel N.V.’s (Akzo Nobel) has acquired a 25% minority shareholding in its joint venture company, Akzo Nobel Nippon Paint Holding B.V., giving it a 100% holding in the company and allowing for a merger of itself and its subsidiaries. We will assess the implications of the acquisition after the company discloses the financial details of the deal. Given current price levels, we continue…
Company News Alert
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Akzo Nobel N.V.’s (Akzo Nobel) common stock appreciated 20.2% in a single trading session on 29 October 2008 in line with an increase in the AEX index. Given weak economic conditions in American and European markets, we anticipate a decline in demand for paints and coatings and are likely to lower our estimates and target price in our next update report. Nevertheless, given the recent decline in stock price, we see…
3Q 08 News Alert
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Akzo Nobel N.V (Akzo Nobel) announced its 3Q 08 results on 29 October 2008. Although revenues were broadly in line with consensus estimates, earnings fell significantly below estimates. Given weak economic conditions in American and European markets, we anticipate a decline in demand for paints and coatings and are likely to lower our estimates and target price in our next update report. Nevertheless, given the recent decline in stock…
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