Koninklijke Philips Electronics N.V. (Philips) reported weak sales and profitability in 2Q 09. Although the common stock target price does not support our HOLD rating at current price levels, based on the q-o-q performance reported by the company, we maintain our HOLD rating for the common stock and will reassess our target price and rating in our 2Q 09 update report. We maintain our SELL rating for the ADR based on our expectation of a negative currency impact on the ADR over…

Koninklijke Philips Electronics N.V.’s (Philips) 1Q 09 sales were below our expectations, reflecting weak demand for products in the Consumer Lifestyle and Lighting segments, amidst deteriorating global economic conditions. Adjusted2 EBITDA was below our estimate, primarily due to operating losses for the Consumer Lifestyle and Lighting segments....

Koninklijke Philips Electronics N.V.’s (Philips) common stock price has depreciated significantly since our 3Q 08 update report, dated 22 October 2008, reflecting volatility in the global stock markets. We continue to believe that the severe downturn in the global economy and weak consumer spending levels will impact the company’s financial performance going forward. Therefore, although the common stock target price derived in our last report does not support…