MARKET TALK: FinnCap Cuts Telecom Plus To Hold From Buy

14th Jul 2010 11:48

1048 GMT [Dow Jones] FinnCap downgrades Telecom Plus (TEP.LN) to hold from buy, saying the stock is now priced at a level suitable to warrant dividend payments. Analyst Andrew Darley says shareholder reward remains the time at which Telecom Plus will begin to pay a dividend and with the stock trading at 355 pence, the yield is now appropriate at between 6% and 6.5%. His target price range remains between 350 pence to 380 pence. Shares +1.2% at 350p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 06:48 ET (10:48 GMT)

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