Reuters - Aug 04, 2009Devro plc (DVO)
-
Nicola Mallard
at
Investec SecuritiesThe company said it would benefit from the continuing high cost and reduced availability of gut casings as more manufacturers were converting to Collagen from gut. Williams said the outbreak of swine flu virus had not affected the company's business.
Investec Securities analyst Nicola Mallard, who has a "buy" rating on Devro stock, raised her price target on the stock to 117 pence from 110 pence. "The stock is trading at an undeserved discount to its peers," Mallard wrote in a note.
Devro reported an operating profit before exceptional items of 10.4 million pounds ($17.6 million) for the six months ended , up from 8.8 million pounds a year ago. Pretax profit more than doubled to 11 million pounds, while pretax profit before exceptional items rose by 17 percent to 9.2 million pounds.
Share:
The company said it would benefit from the continuing high cost and reduced availability of gut casings as more manufacturers were converting to Collagen from gut. Williams said the outbreak of swine flu virus had not affected the company's business. <span class="sent"> Investec Securities analyst <span class="analyst">Nicola Mallard</span>, who has a "buy" rating on <span class="company">Devro</span> stock, raised her price target on the stock to 117 pence from 110 pence. </span> "The stock is trading at an undeserved discount to its peers," Mallard wrote in a note. <span class="company">Devro</span> reported an operating profit before exceptional items of 10.4 million pounds ($17.6 million) for the six months ended , up from 8.8 million pounds a year ago. Pretax profit more than doubled to 11 million pounds, while pretax profit before exceptional items rose by 17 percent to 9.2 million pounds.
Tweet this