EADS "sell"

12.04.06 - Ibersecurities

LONDON, April 12 (newratings.com) - Analysts at Ibersecurities maintain their "sell" rating on EADS (EAD). The target price is set to ?23.60.

In a research note published this morning, the analysts mention that according to Ixis, the placement of Lagardere?s 7.5% stake in EADS has been completed through convertible bonds at a reference price of ?32.60 per share. The French state-owned financial institution, CDC, would be acquiring 2.25% of the stake, the analysts say. Ibersecurities considers the speedy placement as a positive development, since it enables the entry of long-term institutional investors and reduces the uncertainties related to EADS? stock.