Vidrala - Credit Lyonnais Lifts Recommencation

According to a recent report, Credit Lyonnais has lifted its recommendation on the shares of Spanish glass company Vidrala from add to buy. The target price of 12.83 Euros represents a potential increase of 29%. Credit Lyonnais envisages that Vidrala will increase free cashflow from the 1998 figure of 7.77m Euros to 31.54m Euros in 2001. Earlier, the company said it would pay out an interim dividend of Ptas 44.00 gross per share on 15 February. The net dividend is 33.00 pesetas. No further information was given.