MARKET TALK: Panmure Raises Bunzl Price Target

22nd Jun 2010 08:44

0744 GMT [Dow Jones] Panmure Gordon raises Bunzl (BNZL.LN) price target to 769p from 738p following the company's solid trading update. The update confirms further progress in the company's dominant US operations as it wins further growth from existing customers, sys Panmure. It also notes the favorable impact of cost initiatives on UK & Irish operations taken after a tough '09. It notes the company's strong balance sheet and says it expects Bunzl to take advantage of acquisition opportunities. Keeps the stock at hold. Shares -099% at 740p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 03:44 ET (07:44 GMT)