Sos Cuetara "sell"

01/02/07 - Ibersecurities

LONDON, January 2 (newratings.com) - Analysts at Ibersecurities maintain their "sell" rating on Sos Cuetara SA (SC5A). The target price is set to €10.20.

In a research note published this morning, the analysts mention that the company has completed the takeover of Friol for €33 million. Sos Cuetara is likely to undertake more acquisitions in Italy in the forthcoming months in order to double the size of the Friol unit, the analysts say. The company is also expected to merge Carapelli and Minerva Oli to integrate distribution and supply networks in the near future, Ibersecurities adds.