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ICI restarted as neutral

Investment bank Merrill Lynch said on 8 April that it was restarting coverage of Britain“s Imperial Chemical Industries Plc (ICI) with a “neutral“ rating. The bank said in a note that ICI looked fa…

Investment bank Merrill Lynch said on 8 April that it was restarting coverage of Britain“s Imperial Chemical Industries Plc (ICI) with a “neutral“ rating. The bank said in a note that ICI looked fair value against its European peers after its recent out-performance and gave the company an intermediate and long-term “neutral“ rating. It added that the firm was geared to recovery, which was being led by the US market which represents 32% of sales. However, European markets still appeared weak.

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