MARKET TALK: Citigroup Raises Greene King Price Target

2nd Jul 2010 15:41

1441 GMT [Dow Jones] Citigroup raises Greene King (GNK.LN) price target to 560p from 510p following the company's results, citing improving momentum. "Looking forward to FY'11 we expect Greene King to be back in growth, driven by robust LFL sales growth, good cost control and a new expansion strategy." '10 EPS estimate is raised to 43.2p from 40.4p and '11 EPS estimate to 45.8p from 40.1p. Valuation looks too cheap, says Citi. Keeps at buy. Shares +4.5% at 413p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 10:41 ET (14:41 GMT)

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