MARKET TALK: Arden Partners Cuts Homeserve To Neutral

30th Jul 2010 08:04

0704 GMT [Dow Jones] Arden Partners downgrades Homeserve (HSV.LN) to neutral from buy. Homeserve has been on the brokerage's conviction buy list, but following outperformance during which the shares exceeded Arden's target of 2250p, a neutral rating is warranted, says the brokerage. On the company's update, Arden says it is a simple message on rising policy numbers and high retention rates across the company's territories. Arden adds that the company's key trading period is in 2H. Shares -1.3% at 2272p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 30, 2010 03:04 ET (07:04 GMT)