United Internet "overweight," target price raised

27.03.06 - J.P. Morgan Securities

LONDON, March 27 (newratings.com) - Analyst Akhil Dattani of JP Morgan reiterates his "overweight" rating on United Internet AG (UTDI), while raising his estimates for the company. The target price has been raised from ?51 to ?54.

In a research note published this morning, the analyst mentions that the company has projected sales, EBITDA and EBT growth for 2006 ahead of the estimates and the consensus. The analyst considers United Internet?s DSL market adds guidance for 2006 conservative and expects the company to achieve its sales, EBITDA and EBT growth target for the year, given the favourable market trends.