Bloomberg News

Nutreco Advances After Petercam Lifts Recommendation (Update1)

July 29, 2008

Nutreco Holding NV (NUO), the world's biggest fish-feed producer, rose the most in almost three months in Amsterdam trading after Petercam SA said the company will continue to post higher profit.

Amersfoort, Netherlands-based Nutreco advanced 1.35 euros, or 3.4 percent, to 40.57 euros, the most since May 12 and valuing Nutreco at 1.39 billion euros ($2.17 billion). Petercam analyst Paul Linssen raised his recommendation to ``buy'' from ``add,'' while sticking to his 59-euro price estimate.

``We anticipate substantial earnings growth in the coming years,'' Linssen wrote in a note to investors today. ``Thanks to its healthy balance sheet, it can actively participate in consolidation and enhance its activities and growth profile.''

To contact the reporter on this story: Martijn van der Starre in Amsterdam at vanderstarre@bloomberg.net

To contact the editor responsible for this story: Frank Connelly fconnelly@bloomberg.net; Mike Anderson at manderson34@bloomberg.net


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