Broker snap: Singer trims Tarsus target price

30th Sep 2011 11:51

Specialist business media and events group Tarsus is among the latest batch of companies to see its target price shaved amid concerns over earnings.Singer Capital Markets has lowered its rating on Tarsus to 156p from 178p while keeping its "buy" rating on the stock.It has kept its estimates for 2011 unchanged but made a "small reduction" to 2012's."Looking to 2012 we highlight that a range of exhibition operators are seeing strong re-booking rates for the period," the broker said. "This suggests that even if global macro is tough in 2012 the trade exhibition sector (which is late cycle) will continue to enjoy momentum."---RG