MARKET TALK: BofA Merrill Lynch Raises IG Group Price Target

21st Jul 2010 10:46

0946 GMT [Dow Jones] Bank of America Merrill Lynch raises IG Group (IGG.LN) price target to 500p from 480p following an encouraging start to FY'11 and slightly more favorable forex effects than previously estimated. BofA Merrill notes current trading remains strong and reckons the company is well positioned to increase market share. Raises '11 EPS estimate to 33.19p from 32.16p and '12 EPS estimate to 35.75p from 34.76p. Keeps the stock at buy. Shares +5.9% at 469p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 21, 2010 05:46 ET (09:46 GMT)

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