MARKET TALK: Charles Stanley Initiates Homeserve At Buy

15th Jun 2010 11:02

1002 GMT [Dow Jones] Charles Stanley initiates Homeserve (HSV.LN) at buy with 2525p price target, saying overseas operations are likely to drive material growth. Says operating profits will increase by 166% by '15 if the growth path established in the UK is matched overseas, in France, Spain, Belgium and the U.S. Sees a number of catalysts for earnings upgrades: "renewed management focus on growth opportunities in the UK, a reduction in the time taken to break even in new overseas markets and the strength of the balance sheet." Shares -0.2% at 2035p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 06:02 ET (10:02 GMT)