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Article: Europe Issues Affect Akzo Nobel - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- July 8, 2008
- Author:
CopyrightCopyright 2008 Zacks Investment Research. (Hide copyright information)
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Europe Issues Affect Akzo Nobel - Analyst Blog
Akzo Nobel N.V.
(
AKZOY
) is enhancing its global position in coatings through acquisitions and internal growth. Recently, the company underwent a major transformation with the sale of its Organon pharma business to Germany-based pharmaceutical company
Schering-Plough Corp.
(
SGP
) and acquisition of UK-based largest chemical producer Imperial Chemical Industries PLC.
However, rising commodity costs are negatively affecting margins. The company is also facing a difficult environment in Europe. This leads us to rate the stock a Hold with a six-month target price of $73.00.
Recently, the Eka Chemicals business announced its plan to acquire ...