IBA Health upgraded to "buy"03/11/08 - ING Financial...

IBA Health upgraded to "buy"
03/11/08 - ING Financial Markets
LONDON, March 11 (newratings.com) - Analyst Rodolphe Blondiau of ING Financial Markets upgrades IBA Health Group (ZA4) from "hold" to "buy."

In a research note published this morning, the analyst mentions that the upgrade in rating follows the recent decline in the company’s share price. IBA Health has posted robust FY07 results, with sales ahead of expectations, the analyst says. The company’s long-term guidance, with 2010 sales and REBIT margins of €420-€500 million and 10%, respectively, appears to be conservative, ING Financial Markets adds.