SKF Underweight Target Price Raised

SKF "Underweight" Target Price Raised Analysts at JP Morgan maintain their "underweight" rating on SKF , while raising their estimates for the company. The target price has been raised from Skr121 to Skr136. In a research note dated January 31 and published this morning, the analysts mention that the company has reported its 4Q sales, EBIT and operating margins significantly ahead of the estimates and the consensus. SKF has raised its financial targets for long-term EBIT margins and organic growth from 10% to 12 % and from 6% to 6%-8%, respectively. The EPS estimates for 2007 and 2008 have been raised by 5.6% to Skr9.46 and by 3.2% to Skr9.72, respectively.