MARKET TALK: Investec Starts Coverage Of Spirax-Sarco At Buy

14th Jul 2010 08:06

0706 GMT [Dow Jones] Investec initiates coverage of Spirax-Sarco Engineering (SPX.LN) at buy with 1660p price target. Says the business model is robust with a broad spread of end markets, wide geographical exposure and significant product revenue streams. Says: "We believe the group can continue to grow at, or in excess of, previous rates underpinned by the structural growth drivers in the group's end markets, the opportunities for market share gains and the potential of the Watson-Marlow business." Considers it to be a core UK industrials holding. Shares +0.6% at 1576p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 03:06 ET (07:06 GMT)