MARKET TALK: KBC Upgrades Fuller, Smith & Turner To Buy

23rd Jul 2010 10:20

0920 GMT [Dow Jones] KBC Peel Hunt upgrades Fuller, Smith & Turner (FSTA.LN) to buy from hold and raises price target to 630p from 540p following the company's 1Q update. Says: "Increasingly, Fuller's growth trend and its geographical advantage in London and the South East argue for an additional valuation element (which we value at 90p) not recognised in our previous property-based valuation of 540p." Says Fuller's 1Q update was strong, with like-for-like managed sales +4% for the 16 weeks to July. Shares +1.5% at 559p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 05:20 ET (09:20 GMT)