MARKET TALK: Panmure Cuts Go-Ahead Price Target

24th Jun 2010 11:52

1052 GMT [Dow Jones] Panmure Gordon cuts Go-Ahead Group (GOG.LN) price target to 1600p from 1700p to reflect the margin decline in the regulated London operations, following the company's trading update. Still, thinks the share price will be supported by the attractive and safe dividend yield, which currently stands at 6.1%. Says the balance sheet is robust and the recent GBP300M bond issue has extended the debt maturity profile. Keeps the stock at buy. Shares -8.4% at 1208p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 24, 2010 06:52 ET (10:52 GMT)

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