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STOCKS NEWS EUROPE-Croda gains, boosted by RBS upgrade

Fri Oct 30, 2009 7:58am EDT

Stocks

   

Shares in Croda (CRDA.L), which makes ingredients for cosmetics and personal care products, add 3.2 percent, extending gains made on Thursday after the firm issued a third-quarter trading update, boosted by an RBS upgrade to "buy" from "add".

RBS, in a note, says Croda delivered a strong third-quarter performance, with EBIT and pretax profit both well ahead of consensus.

The broker notes that the performance is due to Industrial Specialties, which rebounded strongly in third-quarter 2009 to report record profits after a difficult first-half 2009.

RBS lifts its target price for Croda to 800 pence from 725.

For more double click on [ID:nLT199431]

Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net


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