MARKET TALK: Morgan Stanley Ups Reed Elsevier To Overweight

11th Jun 2010 07:26

0626 GMT [Dow Jones] Morgan Stanley upgrades Reed Elsevier (REL.LN) to overweight from equalweight. Also lifts the price target by 20% to 600p, implying 24% upside. Says the stock is facing some late-cycle headwinds in '10 but improving underlying market conditions suggest a strong bounce-back in '11-'12. Thinks it is a good quality business with improved management. Says outperformance could be triggered by avoiding earnings downgrades in the interim results in July. Shares closed Thursday at 484p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 11, 2010 02:26 ET (06:26 GMT)

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