DSM Seeks To Make Acquisitions
Analysts at Citigroup upgrade Dreyfus Strategic Municipal Bond Fund Inc (NYSE: DSM) from "hold" to "buy." The target price for DSM has been raised from $38 to $40.
Due the weak the euro and signs of an upturn in vitamin prices, DSM “looks oversold.” Citigroup expects solid Q2 results, “a confirmation of the company’s confidence in the outlook for nutrition, and solid, if volatile, trading in the industrial activities.”
“While DSM is seeking to make acquisitions, we believe that the company is conservative and that any deal will add value to shareholders. The track record of DSM regarding acquisitions is good overall,” the analysts mention.
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