MARKET TALK: KBC Cuts Mothercare Price Target

15th Jul 2010 07:53

0653 GMT [Dow Jones] KBC Peel Hunt cuts Mothercare (MTC.LN) price target to 550p from 620p following the company's 1Q update. Mothercare's UK performance is weak against tough comparatives, as expected, notes KBC Peel. However, the brokerage notes international growth remains strong, while Direct to Home is also robust. KBC Peel says the group continues to offer strong growth prospects for the medium term. However, with UK trading set to undermine profit growth, the brokerage thinks the shares may struggle to hold ground. Hold rating. Shares closed Wednesday at 552p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 15, 2010 02:53 ET (06:53 GMT)

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