MARKET TALK: ING Upgrades Reckitt Benckiser To Buy From Hold

29th Jun 2010 07:01

0601 GMT [Dow Jones] ING upgrades Reckitt Benckiser (RB.LN) to buy from hold, and raises its price target to 3700p from 3400p. Thinks the recent contraction in the price to earnings ratio offers an excellent long-term entry point. Thinks at a '11 PER of 15x, Reckitt is more than discounting potential negative news flow and is attractively priced. This negative news flow includes raw material pressure, competitive pressures in Europe and risks related to Suboxone. Shares closed on Monday at 3122p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 29, 2010 02:01 ET (06:01 GMT)

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