MARKET TALK: Collins Stewart Ups Provident Financial To Hold

28th Jun 2010 10:32

0932 GMT [Dow Jones] Collins Stewart upgrades Provident Financial (PFG.LN) to hold from sell, with the shares now trading only 6% above the brokerage's 800p target price. Says Provident is a well-managed business, which is fully aware of the tough market conditions facing its customers. Adds the recent budget, uncertainties in the employment market, increasing costs of living and likely welfare cuts are all issues which could negatively impact the company's customers and their ability to repay Provident's loans. Shares +0.9% at 859p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 28, 2010 05:32 ET (09:32 GMT)