MARKET TALK: Computacenter 1H In Line - Panmure

13th Jul 2010 09:07

0807 GMT [Dow Jones] Computacenter's (CCC.LN) 1H update is in line with the numbers and the operational narrative is more positive than Panmure Gordon had expected, the brokerage says. Reckons Computacenter is the "winner" from the UK's emergency budget, as the VAT (sales tax) hike from January 4 '11 will pull forward product spend into 4Q '10. Says this should mitigate any ill-effects from a reduced UK government spend. Panmure acknowledges the business is 2H-weighted, and more so this year due to VAT changes, but is happy to retain its buy rating on the stock. Has 394p price target. Shares -0.3% at 299p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 13, 2010 04:07 ET (08:07 GMT)