MARKET TALK: Goldman Sachs Downgrades Bodycote To Neutral

8th Jun 2010 08:13

0713 GMT [Dow Jones] Goldman Sachs downgrades Bodycote (BOY.LN) to neutral from buy. Following a period of outperformance, the shares no longer have sector-leading relative upside to the price target, says GS. But it thinks the company should be a significant beneficiary of further improvements in industrial production and in the recovery in automotive and general industrial markets. GS sees significant earnings recovery through '10 and '11. It nudges the price target up to 290p from 274p. Shares -0.6% at 194.9p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 08, 2010 03:13 ET (07:13 GMT)