Klockner initiated with "overweight"

05.09.06 - J.P. Morgan Securities

LONDON, September 5 (newratings.com) - Analyst Anindya Mohinta of JP Morgan initiates coverage of Klockner and Co with an "overweight" rating. The target price is set to ?24.50.

In a research note published this morning, the analyst mentions that the company?s acquisition-related sales growth is tracking in-line with its long-term target. Klockner is well positioned to further optimise its costs via improvements in the purchase mechanism and assimilation of new acquisitions into its logistics and inventory systems, the analyst adds.