MARKET TALK: Goldman Sachs Cuts WH Smith Price Target

17th Jun 2010 11:43

1043 GMT [Dow Jones] Goldman Sachs cuts WH Smith (SMWH.LN) price target to 530p from 560p, after reporting continued weakness in like-for-like sales for 3Q '10. Says both the high street and travel divisions are down by 4%. But continues to expect positive growth from FY '11 in the travel business and coupled with space expansion in both divisions, this should support low single-digit growth from FY '11 onwards. Cuts '10 EPS forecast to 45.71p from 46.42p, '11 to 49.20p from 49.82p and '12 to 51.16p from 51.83p. Keeps at neutral. Shares are +0.4% at 434p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 06:43 ET (10:43 GMT)