MARKET TALK: Citigroup Raises Admiral Group Target Price

30th Jul 2010 10:45

0945 GMT [Dow Jones] Citigroup raises Admiral Group (ADM.LN) target price to 1550p from 1250p. "We think the sun, the moon and the stars are coming into perfect alignment in UK motor, such that strong share price momentum is likely to continue at least into 1H results," says brokerage. However, says the unique nature of the business makes it difficult to judge whether or not all of this is in the price. "This good news will underpin the shares at around the 1500p level rather than help it push onto new highs," adds Citi. Has a hold rating on the stock. Shares -0.3% at 1458p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 30, 2010 05:45 ET (09:45 GMT)