Market talk

MARKET TALK: TomTom Balance Sheet Manageable Post Rts Issue

Dinsdag 30 juni 2009 12:46 1046 GMT [Dow Jones] TomTom's (TOM2.AE) balance sheet looks manageable after the rights issue, an RBS analyst says. Reckons net debt will fall to EUR593M in '09 and to EUR462M in '10. Adds '09 is "more-or-less a lost year as the recession is putting significant pressure on the navigation industry." Still, analyst thinks '10 will be better, citing contract with Renault (RNO.FR) and TomTom's services offering. Keeps a buy rating at a EUR8 target. Shares +6.6% at EUR8.68. (MVT)
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