MARKET TALK: Bovis Statement Strong - Investec

9th Jul 2010 12:39

1139 GMT [Dow Jones] The tone of Bovis Homes's (BVS.LN) 1H update is strong, indicating a return to dividend payments by year-end, notes Investec Securities. Still, the brokerage makes no changes to its in-line earnings estimates, saying it expects weakness in 2H due to what it believes to be a hiatus in the market. "In the short term, we remain cautious on the sector due to feedback we are getting from the non-quoted market that seems at odds with quoted companies' RNS statements." Nevertheless, has a long term buy on the stock and 494p price target. Shares +0.6% at 351p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 09, 2010 07:39 ET (11:39 GMT)