MARKET TALK: Credit Suisse Raises Bodycote Price Target

28th Jul 2010 12:30

1130 GMT [Dow Jones] Credit Suisse raises Bodycote (BOY.LN) price target to 280p from 240p following the company's 1H results. Says market share and margin gains are reassuring and the brokerage is increasingly confident Bodycote can capitalize on the recovery through top-line growth and margin improvement. Says: "The company's focus on improving the business mix and avoidance of filling capacity with commodity or subcontracted work allowed for a strong operational gearing and hence margin improvement." Keeps the stock at outperform. Shares -7.6% at 231p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 28, 2010 07:30 ET (11:30 GMT)