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Philips Lighting: UBS raises target price.

(CercleFinance.com) - UBS has raised its target price on Philips Lighting from 29 euros to 32 euros, while maintaining its "neutral" rating on the shares.

In a research note entitled "some parts of it shine brighter than others," the broker said it has decided to take a "slightly more constructive view on the third-quarter results than the market."

The Dutch lighting maker said last week that it returned to comparable sales growth in Q3, while improving profitability, although this hasn't stopped the shares from falling 5% in two sessions.

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