RAYMARINE - world leader in marine electronics

Raymarine "buy," target price raised

Tuesday, January 02, 2007 5:32:02 AM ET
Panmure Gordon & Co

LONDON, January 2 (newratings.com) - Analyst Oliver Wynne James of Panmure Gordon & Co maintains his "buy" rating on Raymarine Plc (ticker: RAY-GBX). The target price has been raised from 500p to 540p.

In a research note published this morning, the analyst mentions that despite the significant appreciation in the company’s share price in 2006, upside potential still remains. The analyst expects this additional upside to Raymarine’s share price to be driven by penetration into new markets and new accounts, better-than-anticipated benefits related to the outsourcing programme, and the robust pipeline of new products.