DSM "buy"

10/03/06 - ING Financial Markets

LONDON, October 3 (newratings.com) - Analyst Martin Dunwoodie of ING Financial Markets maintains his "buy" rating on DSM NV (DSM2). The 12-month target price is set to €43.

In a research note published this morning, the analyst mentions that the company has declared a share buyback worth €750 million in order to improve its balance sheet. DSM has created four Emerging Business Areas (EBA) in order to boost its long-term growth, the analyst says. The company has reaffirmed its Vision 2010 goal to generate additional sales of €1 billion from innovation, ING Financial Markets adds.