Fiat "buy," target price raised

03/19/07 - Dresdner Kleinwort Wasser.

LONDON, March 19 (newratings.com) - Analysts at Dresdner Kleinwort reiterate their "buy" rating on Fiat (FIAT-EUR), while raising their estimates for the company. The target price has been raised from €19.50 to €20.00.

In a research note published this morning, the analysts mention that the company has received robust orders year-to-date at its truck division, Iveco. According to the analysts, the 2007 truck volume growth estimates for Fiat seem highly conservative, since Iveco is benefiting from the recently launched core models and strength in the European truck market. The EPS estimate for 2007 has been raised from €1.18 to €1.22.