Broker snap: Prime Markets expects new 52-week high for Experian

10th Nov 2011 11:54

Prime Markets sees significant upside to Experian's current share price, saying that the group is "very much at the forefront of the global credit service boom".The credit reference and anti-fraud company reported its first half results on Thursday, with pre-tax profits up 21% and revenues 15% higher. The group also hiked its interim dividend by 14%.The stock - along with the broader index - tanked in August during the summer sell-off, but have seen a strong recovery, which reflects the company's attractive combination of growth potential and defensive qualities, the broker said."The half year numbers are a win win on every metric, and if that isn't enough, the 14% increase in the dividend completes a compelling investment case," said Prime Markets' head of dealing Richard Curr.The broker expects the stock to retest the 52-week high of 841p in the next few weeks, before pushing on to 900p plus thereafter.Experian was the best performing stock on the FTSE 100 today, with shares up 6.19% at 832.5p by 11:50.BC