Wednesday, August 29, 2007 3:18:30 AM ET ING Financial Markets
LONDON, August 29 (newratings.com) - Analyst Marcel Achterberg of ING Financial Markets maintains his "buy" rating on Philips Electronics (PHI1.ETR). The 12-month target price is set to �38.
In a research note published this morning, the analyst mentions that the Medical division witnessed a sharp recovery in med equipment orders in 2Q07. Growth at Lighting was robust in the quarter and is expected to remain so in 2H07, the analyst says. The DAP division continued to outperform expectations in 2Q07 and its new product pipeline is expected to drive growth in 2H07, ING Financial Markets adds. The analyst expects the performance of the Consumer Electronics (CE) business to improve in 2H07.