Kerry Group re­ceives up­grade from UBS

The Irish Times - - Markets -

Kerry Group’s sales ex­po­sure to high-growth ar­eas should boost its per­for­mance, fi­nan­cial ser­vices com­pany UBS has said after up­grad­ing its view on the food stock.

UBS up­graded Kerry from a “neu­tral” rat­ing to a “buy” rat­ing, say­ing that it sees a 12 per cent up­side to the Tralee group’s share price.

The an­a­lysts sin­gled out Kerry’s taste and nu­tri­tion unit as be­ing “well placed” to de­liver vol­ume growth. Ad­di­tion­ally, it said Kerry’s room for ex­pan­sion in emerg­ing mar­kets pro­vides pos­i­tive op­tions.

As for merg­ers and ac­qui­si­tions, UBS sug­gests that Kerry is well po­si­tioned to be a “key con­sol­ida­tor” in the in­dus­try.

UBS up­graded Kerry’s price tar­get to ¤100 from ¤78. Cur­rently trad­ing above the ¤92 mark, the com­pany’s share price is up by 36.3 per cent since the be­gin­ning of this year.

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