Broker snap: UBS reiterates buy on Computacenter

31st Aug 2011 13:03

UBS has kept its buy rating on IT infrastructure services and solutions provider Computacenter, saying that the firm now has a "better balanced business model".The broker notes that the second half has started solidly, after the firm indicated that July and August trading has been good, with a particularly strong performance in Germany. Meanwhile, the UK has been helped from more favourable comparatives and has a good managed services pipeline.However, the target price is cut from 520p to 500p. "A more prudent view of the macro environment leads us to slightly lower our forecasts for 2012."BC