MARKET TALK: Costain 1H Update In Line - Panmure

30th Jun 2010 10:50

0950 GMT [Dow Jones] Costain's (COST.LN) 1H trading update is in line with expectations, says Panmure Gordon. "Clearly, there is a lot of uncertainty about where spending cuts will hit but the group's focus on clients, markets and needs is providing resilience." With an attractive valuation, particularly a 4.5% dividend yield, the brokerage retains its buy recommendation and 290p price target on the stock. Shares flat at 203p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 05:50 ET (09:50 GMT)