MARKET TALK: S&P Equity Research Cuts Smith & Nephew Target

23rd Jul 2010 15:39

1439 GMT [Dow Jones] S&P Equity Research cuts Smith & Nephew (SN.LN) price target to 530p from 600p ahead of the company's 2Q results. Says S&N's sanguine outlook for '10 will be increasingly challenged, following slowing orthopedic sales in its US counterparts in 2Q'10. Says continuing pricing pressure could become even harsher, given the austerity measures in the EU and the healthcare reform implementation in the US. Maintains sell recommendation on the stock. Shares -2% at 559p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 10:39 ET (14:39 GMT)