MARKET TALK: Merrill Lynch Lifts St James's Place Price Target

2nd Aug 2010 12:07

1107 GMT [Dow Jones] Bank of America Merrill Lynch raises St James's Place (STJ.LN) price target to 320p from 310p. Says the company's interim results come in well ahead of expectations, allowing the company to raise its dividend by 10%. Merrill Lynch increases its cashflow estimate for '12 by 8% to GBP71M. Estimates that free cashflow yield will increase to 11% from 3% by '15. Says for those with a long term view, assets under management growth and operational leverage should rapidly improve earnings and cashflow. Reiterates buy recommendation. Shares +1.8% at 281p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires August 02, 2010 07:07 ET (11:07 GMT)

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