Brokerage Vermeulen Raemdonck said it has upgraded Belgian glassmaker Glaverbel SA to a buy with a short-term price target of Euros 82.
Vermeulen said Glaverbel has an attractive price earnings multi…
Brokerage Vermeulen Raemdonck said it has upgraded Belgian glassmaker Glaverbel SA to a buy with a short-term price target of Euros 82. Vermeulen said Glaverbel has an attractive price earnings multiple of 7.6 times 2000 earnings compared with 12 times for France“s Saint-Gobain SA. Given recent lows following a profit warning in November and a “reasonably bright” outlook for 2000, the share is worth a look, said Vermeulen.