MARKET TALK: Citigroup Raises Weir Group Target Price

15th Jun 2010 09:21

0821 GMT [Dow Jones] Citigroup raises Weir Group (WEIR.LN) price target to 1280p from 1230p following the company's stronger-than-expected trading update. Says 1H '10 guidance is around GBP26M ahead of previous expectations. Also notes the company's announcement of a GBP138M acquisition of Malaysian-based Linatex, which Weir believes will be around 5% EPS accretive from '11. Citi raises its '10 EPS estimate to 89p from 75p, and its '11 EPS estimate to 94.9p from 81.9p. Shares +0.3% at 1069p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 15, 2010 04:21 ET (08:21 GMT)

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