Davy Stockbrokers favours Barlo's prospects advising investors to acquire the stock. It has recently acquired Athlone Extrusions for €65 million and its products are viewed as being complementary to Barlo's. It currently has a 15 per cent share of the European plastic sheet sector and the Athlone acquisition is expected to provide a boost to group earnings. The acquisition will have little impact on the current year earnings but should begin to come through in 2002. Davy's revised target of €1.48, up from €1.27 takes into account the benefits of the Athlone deal. This implies an appreciation of 42 per cent in the share price and is recommended on this basis.
Davy recommends Barlo as a buy
Davy Stockbrokers favours Barlo's prospects advising investors to acquire the stock
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