MARKET TALK: KBC Peel Hunt Downgrades Weir Group To Hold

18th Jun 2010 10:52

0952 GMT [Dow Jones] KBC Peel Hunt downgrades Weir Group (WEIR.LN) to hold from buy, as the shares have outperformed strongly in recent weeks. The brokerage consequently raises the price target modestly to 1140p from 1100p. Says there is clearly scope for further upgrades in 2H if after-market demand continues and/or Original Equipment orders recover further. Remains a fan of the stock in the long-term. Shares +1.4% at 1143p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 18, 2010 05:52 ET (09:52 GMT)