Omega Pharma "buy," target price raised

03/15/06 - ING Financial Markets

LONDON, March 15 (newratings.com) - Analyst Luc Struelens of ING Financial Markets maintains his "buy" rating on Omega Pharma (OPM). The target price has been raised from €47 to €54.

In a research note published this morning, the analyst mentions that the company is scheduled to report its FY05 and 4Q results on March 16. Omega Pharma expects to post its adjusted EPS for the year short of the guidance. The company is expected to incur non-recurring charges of €4.8 million in 4Q05 and its SG&A expenses are likely to decline by 6% y/y, the analyst says. Omega Pharma’s growth potential is impressive, the analyst adds.