MARKET TALK: RBS Cuts Mothercare Price Target

19th Jul 2010 13:35

1235 GMT [Dow Jones] Royal Bank of Scotland cuts Mothercare (MTC.LN) price target to 465p from 495p. "We believe group operating leverage and forecast risk resides in the UK business, where weakness over 1Q '11 has driven downgrades to our forecasts." Brokerage lowers its FY '11 pretax profit and EPS estimates to GBP42.7M and 35.4p from GBP46.2M and 38.3p. Expects a period of share price pressure ahead. Keeps the stock at sell. Shares -0.6% at 521p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 08:35 ET (12:35 GMT)

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