MARKET TALK: Credit Suisse Raises Man Group Target Price

21st Jun 2010 09:12

0812 GMT [Dow Jones] Credit Suisse raises its Man Group (EMG.LN) target price to 280p from 265p together with a 13% upgrade of its EPS forecast for the year-ending March 2011. Credit Suisse says the changes are meant to reflect the higher proportion of AHL assets-under-managment which are near performance fee high watermarks than the brokerage expected. CS adds that valuation is cheap, but not yet compelling. "Moreover we see limited signs of an underlying positive EPS revision cycle," CS adds. Neutral rating. Shares +2.3% at 254p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 21, 2010 04:12 ET (08:12 GMT)