MARKET TALK: Persimmon Outlook Hesitant - Investec

6th Jul 2010 11:02

1002 GMT [Dow Jones] Persimmon's (PSN.LN) outlook statement is noticeably hesitant, says Investec Securities. In the short term, it's best to avoid the stock and the sector, says Investec. "We believe the housing market has lurched down in recent weeks according to our meetings with the industry." However, Investec still has a buy rating, although it says this is on a long-term basis. 414p target. Shares +6.5% at 371p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 06, 2010 06:02 ET (10:02 GMT)