MARKET TALK: Babcock Update In Line - KBC Peel Hunt

8th Jul 2010 07:53

0653 GMT [Dow Jones] Babcock's (BAB.LN) update confirms trading in line with expectations, says KBC Peel Hunt, with the order book stable at GBP8.3B. Says the outlook remains positive, with good cash generation. Notes the focus remains on the VT Group (VTG.LN) acquisition which is due to complete Thursday. Says the stock's valuation is attractive for a high quality outsourcing play, capable of double digit organic growth with long-term income streams. Has the stock at buy with 650p price target. Shares closed Wednesday at 619p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 08, 2010 02:53 ET (06:53 GMT)