United Internet "buy," target price raised

24.01.07 - Deutsche Bank

LONDON, January 24 (newratings.com) - Analyst Benjamin Kohnke of Deutsche Bank maintains his "buy" rating on United Internet AG (UTDI). The target price has been raised from ?12.50 to ?16.50.

In a research note published this morning, the analyst mentions that the company?s 4Q results are expected to be under pressure on account of increased marketing initiatives. The analyst adds, however, that an improved business mix is expected to drive United Internet?s profitability going forward. Despite a challenging market environment, the company?s DSL business is on-track, Deutsche Bank.