Mersen (MRN), a French maker of graphite and electrical goods, jumped in Paris after a contract to supply components to a wind farm prompted analysts at Gilbert Dupont to lift their rating from ‘add’ to ‘buy.’
Gilbert Dupont cited the company’s announcement that it has been chosen by REpower Systems SE to supply components for the Thornton Bank wind farm near Ostend in Belgium.
Analyst Francoise Delva raised the target price on the stock to 31.7 euros from 30.9 euros. The fact that first-quarter sales will suffer from a high year-earlier comparison has already been factored into the stock price, Delva wrote.
The stock gained as much as 7.7 percent and was up 6.2 percent at 26.30 euros at 09:27 a.m. in Paris, making it the best performer on the SBF 250 Index today.
To contact the editor responsible for this story: David Whitehouse at firstname.lastname@example.org