Dragon Capital in its recently distributed Equity Research “M&A in Poland Completed Ahead of Schedule” reconfirmed “Buy” recommendation and set a 12-month target price of PLN 25.95 (USD 7.79) per Milkiland N.V. share (42% upside).
This recommendation is based on the positive financial outlook of the Group stemming from the growth in volume sales, primarily in cheese segment because of acquisition of cheese production plant “Ostrowia” in Poland.
The Dragon’s analysts envisaged that this asset after its integration to Milkiland Group in 2012 will generate the revenue from 2013. In line with these expectations, the upward revision of the revenues and EBITDA of the Milkiland Group in 2013 and in the forthcoming 2014-2018 years was done in the report.
The contact data of Dragon Capital Research analyst covering Milkiland N.V. is available here:http://www.milkiland.nl/en/Investor_relations/Analyst_Coverage