Broker snap: BarCap likes Experian's cash bonds

15th Jul 2011 14:03

The market regarded the trading update from credit checking firm Experian as lacklustre, but Barclays Capital (BarCap) welcomed "Experian's steady business performance."BarCap expects the group to "sustain a broadly solid credit profile" for the remainder of the current financial year, and highlights the ever-present possibility of more bolt-on acquisitions before the year is out."We note positively that management does not plan to restart any further share buyback programme. We view its focus on investing in growth within the context of maintain a strong investment grade rating, as broadly reassuring," the investment bank added. "On balance, we continue to like the Experian cash bonds. In CDS [certificates of deposit], we recommend buying protection, albeit this is largely on valuation grounds," Barcap concluded.