MARKET TALK: Panmure Raises Tate & Lyle Price Target

1st Jul 2010 10:19

0919 GMT [Dow Jones] Panmure Gordon raises Tate & Lyle (TATE.LN) price target to 500p from 440p after the company said it's disposing of its EU sugar refining business. "This is a significant development in [CEO] Javed Ahmed's strategy of focusing on added-value food ingredients and obviously gives Tate more material firepower to pursue its strategy." Keeps the stock at hold. Shares +3% at 463p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 01, 2010 05:19 ET (09:19 GMT)