MARKET TALK: Goldman Sachs Cuts Mothercare Price Target

19th Jul 2010 10:37

0937 GMT [Dow Jones] Goldman Sachs cuts Mothercare (MTC.LN) price target to 697p from 723p. The brokerage cuts its FY '11 revenue forecast by 2.2% to GBP802M, reflecting a tougher outlook for the UK store and Direct channels. Goldman still thinks the store restructuring, growth of new channels and expansion of the customer offer should support profits in the UK, while the international business remains the growth engine going forward. Buy ratig. Shares are +0.4% at 526p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 05:37 ET (09:37 GMT)