Henkel initiated with "buy"

01.04.08 - Dresdner Kleinwort Wasser.

LONDON, April 1 (newratings.com) - Analysts at Dresdner Kleinwort initiate coverage of Henkel V (HEN3-EUR) with a "buy" rating. The target price is set to ?37.

In a research note published this morning, the analysts mention that Henkel?s organic top-line growth in the past couple of years has been driven by constant innovation across all the divisions. The company is expected to continue to generate robust growth, with the acquisition of National Starch, Dresdner Kleinwort says. Henkel is expected to be able to offset input cost inflation by price increases and other measures going forward, the analysts add.