MARKET TALK: 3i Group Statement Reassuring - Merrill

7th Jul 2010 08:58

0758 GMT [Dow Jones]--3i Group's (III.LN) statement for its first fiscal quarter is reassuring, but unlikely to cause anyone to change views or estimates, says Merrill Lynch. Keeps a buy recommendation. The private equity firm's portfolio companies continue to perform well overall, according to chief executive Michael Queen, and although the debt level is up slightly from year end this is as we would expect as the investment environment improves, Merrill Lynch adds. "Overall, we would view this statement as a minor positive, as the market has been in worry mode recently, and this update suggests that 3i's portfolio, at least, is in decent shape," says Merrill Lynch. Keeps at buy, with a target price of 360p. Shares -1.2% at 260p, in a negative market. (MTC) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 07, 2010 03:58 ET (07:58 GMT)