United Internet "buy," target price raised

04.09.09 - UniCredit Markets & Investment Banking

LONDON, September 4 (newratings.com) - Analysts at UniCredit Markets maintain their "buy" rating on United Internet (UTDI), while raising their estimates for the company. The target price has been raised from ?10 to ?12.

In a research note published this morning, the analysts mention that the company?s 2H operating results are expected to be driven by the start of marketing of VDSL products and the benefits from its marketing agreement with freenet. United Internet?s recent restructuring initiatives are expected to yield positive results going forward, the analysts add. Further newsflow related to M&A or disposals by the company is expected to boost its share price performance, UniCredit Markets says.