MARKET TALK: Liberum Starts Sainsbury At Hold

17th Jun 2010 10:50

0950 GMT [Dow Jones] Liberum Capital initiates coverage of Sainsbury (SBRY.LN) with a hold rating and 340p target. "Profitability is now only modestly below the mid 1990's peak whilst margins are expanding consistently," the Liberum says. However Liberum says a difficult UK environment, higher profit base level and capital intensity suggest modest medium-term growth. Liberum says the Qatar Investment Authority will remain a long-term shareholder. Shares flat at 327p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 05:50 ET (09:50 GMT)