MARKET TALK: Investec Lowers McBride Target Price

30th Jun 2010 12:57

1157 GMT [Dow Jones] Investec Securities lowers McBride (MCB.LN) target price 150p from 250p. Says the market has taken fright at McBride's recent warning on input cost inflation, casting minds back to 2008 when it suffered from the sharp oil price spike. "This present situation looks far less severe and we believe the company has acted early and decisively in its guidance. As such, the stock price fall looks overdone," says Investec. Has a buy rating. Shares +3.4% at 129p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 07:57 ET (11:57 GMT)