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UBS: MIG TP at €7.4

23/07/2007 11:23
In its report under the title “Starting off with some big moves”, UBS raised its Price Target for Marfin Investment Group to €7.4 from €7. It also upgraded its rating to “neutral 1”.

According to the analysts, the Price target is raised by 5.7% and “this is supported by a 4.8% dividend yield in 2007E”. The dividend yield will reach 6% and 7.6% in 2008 and 2009 respectively.

According to the report, “MIG raised €5.2bn of equity and has already made a material investment in Vivartia, which we expect to lead to IRR range of 24-48%”.