MARKET TALK: Panmure Lifts IG Group Price Target

10th Jun 2010 10:49

0949 GMT [Dow Jones] Panmure Gordon lifts IG Group (IGG.LN) price target to 500p from 475p following the pre-close trading update. Says revenues in Japan finally look like they are moving upwards. Says this is important for sentiment given the underperformance of this area of this business since acquisition. Lifts '10 EPS forecast to 31.5p from 28p and '11 to 33.2p from 31.2p. Expects market volatility to persist, which should benefit FX and index volumes, and may create scope to upgrade estimates. Maintains buy rating. Shares -1.0% at 427p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 10, 2010 05:49 ET (09:49 GMT)