MARKET TALK: Collins Stewart Cuts Keller Group Target Price

2nd Aug 2010 14:15

1315 GMT [Dow Jones] Collins Stewart lowers Keller Group (KLR.LN) target price to 644p from 670p. The company's 1H results are "very weak," but this was well flagged by the profit warning in May. Most of the damage was done by the US operations, in which EBIT swung to GBP1M loss from a GBP19M profit, with revenues down by a quarter, the brokerage says. Still, Collins Stewart says the outlook is starting to improve, with the company seeing orders grow at the group level for each month since December 2009. Buy rating. Shares +4.7% at 575p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires August 02, 2010 09:15 ET (13:15 GMT)