MARKET TALK: Citigroup Raises Aggreko Price Target

9th Jun 2010 09:53

0853 GMT [Dow Jones] Citigroup raises Aggreko (AGK.LN) price target to 1450p from 1200p. Says the interim management statement is strong and the business is performing well. Increases '10 EPS forecast to 73.2p from 66.1p and '11 to 77.7p from 71.4p. Says most of this is down to better underlying trade although currency helps here too. Meanwhile, expects 1H '10 net debt to be slightly above the end '09 level. But thinks debt will reduce in 2H and the balance sheet remains extremely well supported. Maintains hold recommendation. Shares are -0.2% at 1404p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 09, 2010 04:53 ET (08:53 GMT)