Philips Electronics “buy,” target price raised
Analysts at Deutsche Bank reiterate their “buy” rating on Philips Electronics (PHI1.ETR). The target price has been raised from €29 to €31.
In a research note published this morning, the analysts mention that the demand trends for consumer electronics are likely to be robust in 2006. The performance of Philips Electronics’ CE segment is expected to improve this year due to the upgraded CE products portfolio and a rapid turnaround in the company’s US CE operations, the analysts say.
Deutsche Bank expects the company to continue its share repurchases and witness a further recovery in Semis in 2006. There is substantial upside to the company’s share price, despite the significant appreciation in the recent past, the analysts add.
More: newratings.com