DCC "add," target price raised

12/22/05 - Goodbody Stockbrokers

LONDON, December 22 (newratings.com) - Analysts at Goodbody Stockbrokers maintain their "add" rating on DCC Plc (DCC-EUR). The target price has been raised from €17.50 to €18.50.

In a research note published this morning, the analysts mention that an Irish high-court has recently ruled that Flavin, DCC’s CEO, was not in possession of the price sensitive information on the dates when the shares were sold-off in relation to the Fyffes case. The ruling reduces the risk of the company having to surrender capital gains worth €85 million on the shares, the analysts add.