MARKET TALK: Panmure Gordon Raises Hays To Hold From Sell

10th Jun 2010 10:08

0908 GMT [Dow Jones] Panmure Gordon raises Hays (HAS.LN) to hold from sell, following the recent share price weakness and underperformance of late. Sees just 5% downside to its 92p target price, which remains unchanged, offset by an attractive yield of 6%. Still has some concerns and expects Hays to lag some of its peers in terms of profit recovery. However, thinks that given its commitment to maintain the dividend, investors may view it as an "income stock", which may limit downside risk in the short term. Shares are +1.2% at 98p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 10, 2010 05:08 ET (09:08 GMT)