MARKET TALK: Charles Stanley Starts Paragon Group At Buy

18th Jun 2010 11:03

1003 GMT [Dow Jones] Charles Stanley initiates coverage of Paragon Group (PAG.LN) at buy with a 225p price target, citing the company's cash generative portfolio. Reckons as the market starts to appreciate this, the discount to the 225p NAV will close. Says the group's buy-to-let portfolio is performing well. Adds: "We see the current valuation as having limited downside risk, and with investors effectively getting a free option on the resumption of lending, the recent share price weakness should be seen as a buying opportunity." Shares +3% at 139p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 18, 2010 06:03 ET (10:03 GMT)