MARKET TALK: Deutsche Bank Lifts Johnson Matthey To Buy

17th Jun 2010 07:26

0626 GMT [Dow Jones] Deutsche Bank upgrades Johnson Matthey (JMAT.LN) to buy from hold, and boosts its target price to 1900p from 1550p. Says the company is entering a period of accelerating earnings growth, with 17% growth in earnings in the next three years compared with 7% over the last decade. Says this is driven by tightening emissions legislation driving demand for auto, heavy duty diesel [HDD] and non-road diesel catalysts. "HDD catalysts will also benefit from increased truck production, with Johnson Matthey best placed to benefit with its global market share recently increasing to approximately 65% in this market," it adds. Shares closed at 1572p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 02:26 ET (06:26 GMT)