MARKET TALK: Nomura Downgrades Go-Ahead To Neutral Vs Buy

28th Jun 2010 11:14

1014 GMT [Dow Jones] Nomura downgrades Go-Ahead Group (GOG.LN) to neutral from buy. This reflects the difficult London bus market. Nomura also says UK rail EBITA is not as high as hoped, given stronger passenger revenue growth. Cuts the price target to 1250p from 1665p. "London bus is likely to remain challenging, and although revenue growth in UK rail remains strong, the required rate of revenue growth for '11 is relatively high." Shares -6.0% at 1097p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 28, 2010 06:14 ET (10:14 GMT)

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