MARKET TALK: Goldman Initiates Coverage Of Mothercare At Buy

8th Jun 2010 09:55

0855 GMT [Dow Jones] Goldman Sachs initiates coverage of Mothercare (MTC.LN) at buy with 723p price target. Says it offers investors an attractive combination of UK business resilience and overseas growth at a compelling valuation. Says the 23% sell off year-to-date offers an attractive entry point. Describes the business as well-run, led by a cost-conscious management team, and with significant upside potential from international expansion. Says the 1Q '11 trading update on July 15 will be key to the company's re-rating. Shares are +0.8% at 530p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 08, 2010 04:55 ET (08:55 GMT)