MARKET TALK: Bodycote Positive Momentum Continues - Investec

9th Jul 2010 11:42

1042 GMT [Dow Jones] Bodycote's (BOY.LN) surprise 2Q update confirms trends seen in 1Q have continued and the FY out-turn is expected to be significantly ahead of market forecasts, says Investec Securities. Still, given the group's limited visibility in what remains an uncertain macro environment, the brokerage remains cautious on the full-year out-turn. While its view is becoming more positive, it retains its hold recommendation for now and awaits the interims before re-appraising. Investec places its 185p target under review. Shares +13% at 215p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 09, 2010 06:42 ET (10:42 GMT)