United Internet "overweight," estimates raised

28.01.08 - J.P. Morgan Securities

LONDON, January 28 (newratings.com) - Analyst Akhil Dattani of JP Morgan maintains his "overweight" rating on United Internet AG (UTDI), while raising his estimates for the company. The target price is set to ?17.3.

In a research note published this morning, the analyst mentions that the company is expected to post its 2008 and 2009 EBITDA ahead of the consensus. Going ahead, United Internet is likely to takeover Freenet, which would offer significant synergies to the former company, the analyst says. The EPS estimates for 2007 and 2008 have been raised from ?0.59 to ?0.86 and from ?0.78 to ?0.84, respectively.