MARKET TALK: Panmure Upgrades Reckitt Benckiser To Buy

22nd Jul 2010 10:58

0958 GMT [Dow Jones] Panmure Gordon upgrades Reckitt Benckiser (RB.LN) to buy from hold and lifts the target price to 3800p from 3650p, following the company's move to acquire SSL International (SSL.LN) for 1171p per share. "We regard this as an excellent strategic fit," says Panmure. SSL's two key brands, Durex and Scholl will become power brands within the Reckitt stable, says Panmure. "We expect that both brands will benefit significantly from Reckitt's expertise in consumer brands." Reckitt shares +0.6% at 3320p, SSL -0.1% at 1176p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 22, 2010 05:58 ET (09:58 GMT)