MARKET TALK: BofA Merrill Lynch Raises Weir Price Target

15th Jun 2010 12:17

1117 GMT [Dow Jones] Bank of America Merrill Lynch raises Weir Group (WEIR.LN) price target to 1340p from 1220p following the company's stronger than expected trading update. Says aftermarket orders have been strong across the business and original equipment orders have begun to return. The brokerage also notes Weir's acquisition of Malaysia-based Linatex and says the deal looks like a good fit. Raises '10 EPS forecast to 87.74p from 76.35p and '11 EPS forecast to 101.51p from 85.58p. Reckons the group's end market exposure and geographic sales split should support earnings growth above the sector. Keeps at buy. Shares +0.7% at 1073p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 07:17 ET (11:17 GMT)