MARKET TALK: JPMorgan Cazenove Raises Croda Intl Target Price

28th Jul 2010 13:18

1218 GMT [Dow Jones] JPMorgan Cazenove raises Croda International (CRDA.LN) target price to 1400p from 1220p. Says this reflects a stronger than expected recovery in its industrial area, and continued growth in demand for personal care chemicals. Says that cashflows, and a reduction in debt through disposals, appear to indicate a strong balance sheet, while new product innovation, and continued demand for natural ingredients in cosmetic products, appears to be growing continuously. "The outlook on this basis appears encouraging, and this is against an economic background which is still relatively cautious," adds brokerage. Has an overweight rating. Shares -1.7% at 1250p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 28, 2010 08:18 ET (12:18 GMT)