MARKET TALK: Land Securities Update "Reasonably Upbeat"

21st Jul 2010 07:50

0650 GMT [Dow Jones] Land Securities' (LAND.LN) first-quarter update is "reasonably upbeat," says an analyst at Evolution Securities. There are "no surprises and basically decent progress." The analyst adds that Land Securities has a very large City and West End development program, is bullish on the London office cycle and that both void rate and units in administration continue to fall, which is good. Still, he says he prefers rival British Land. (BLND.LN). Add rating on Land Securities, 630p target. Shares closed Tuesday at 581p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 21, 2010 02:50 ET (06:50 GMT)