MARKET TALK: AB Foods Update Will Not Raise Consensus - Investec

8th Jul 2010 07:50

0650 GMT [Dow Jones] AB Foods' (ABF.LN) update is good, says Martin Deboo of Investec, though he doesn't expect it to result in FY upgrades. Says positive news on Primark is somewhat offset by the negative comments on Portuguese sugar. Adds Primark same-store sales look to have slowed since the 1H. Even so, "the big picture is that AB Foods is performing well across its divisions." Rates at buy, with 1080p price target. Shares closed Wednesday at 980p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 08, 2010 02:50 ET (06:50 GMT)