STOCKS NEWS EUROPE-Goldman comment helps Manz

Shares in Manz Automation (M5ZG.DE) gain 3.7 percent after Goldman Sachs reiterates its "buy" recommendation and "Pan-Europe Conviction Buy List" status on the stock while slightly trimming its price target to 78 euros from 80 euros.

The broker says in a note to clients that it believes the focus of the third-quarter results, due on Nov. 9, will be on order backlog risks, order intake levels and the prospects for 2009 earnings. "We expect a cautious outlook statement but see improving trends in order intake continuing through the fourth quarter and 2010. We lower our 2009-11 EBIT estimates to account for the increased order backlog risks, but still find significant upside potential," the brokerage says.

It says that under a worst-case order inflow scenario in 2010, there could by around a 25 percent downside from current levels, but in its best case scenario order inflow could rise by 134 percent.

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