Interseroh "buy"

08/30/07 - Dexia Securities

LONDON, August 30 (newratings.com) - Analyst Dieter Furniere of Dexia Securities maintains his "buy" rating on Interseroh (ITS). The target price is set to €61.

In a research note published this morning, the analyst mentions that the company has reported its 1H07 ahead of expectations, with revenues at €900.9 million. Robust pricing trends for steel and metal scrap have led to a higher-than-expected rise in Interseroh’s EBIT to €38.1 million, the analyst says. Healthy demand from China and growing environmental awareness are expected to support steel and metal scrap prices going forward, Dexia Securities adds.