MARKET TALK: Goldman Sachs Upgrades McBride To Buy

13th Jul 2010 08:00

0700 GMT [Dow Jones] Goldman Sachs upgrades McBride (MCB.LN) to buy from neutral. Thinks the share price reaction to concerns over cost inflation has been excessive. Says the share price has factored in a significant fall in EPS following the company's cost inflation warning in June. Thinks this will reverse as the actual extent of earnings loss becomes clearer and McBride will re-rate as the company updates the market on FY '11 guidance, most likely during the preliminary results. Cuts the price target to 166p from 225p. Shares closed Monday at 133p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 13, 2010 03:00 ET (07:00 GMT)