MARKET TALK: Morgan Stanley Raises Travis Perkins Target

26th Jul 2010 10:17

0917 GMT [Dow Jones] Morgan Stanley raises Travis Perkins (TPK.LN) price target to 1200p from 1150p ahead of this week's interim results. Notes 2Q trading has been better than expected, and in addition, the brokerage now integrates the BSS Group (BTSM.LN) acquisition into its forecasts from FY'11. Says the stock's valuation is too cheap "for a well-managed business that should see strong earnings growth from economic recovery, market share gains, and synergies from the BSS acquisition." Keeps at overweight. Shares +1% at 834p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 26, 2010 05:17 ET (09:17 GMT)