Diebold "buy"

03/16/07 - Wedbush Morgan Securities

NEW YORK, March 16 (newratings.com) - Analyst Gil B Luria at Wedbush Morgan reiterates his "buy" rating on Diebold Inc (DBD). The 12-month target price is set to $52.

In a research note published yesterday, the analysts mention that the company is on schedule to divest its Cassis plant. The transfer of production from France to Hungary is likely to generate annual cost savings of $6-$7 million, the analyst says. While Diebold is inclined to sell the US part of the election business, a spin-off is also possible, Wedbush Morgan adds.