MARKET TALK: S Pierce Ups Fuller, Smith & Turner Target Price

21st Jun 2010 11:55

1055 GMT [Dow Jones] Seymour Pierce raises Fuller, Smith & Turner (FSTA.LN) price target to 675p from 630p following the group's impressive FY results. It increases FY'11 pretax profit estimate to GBP27.6M from GBP25.4M and EPS to 34.4p from 320p. Notes the company's strong balance sheet, adding that trading at Fuller is better than the industry average. "A 17% increase in profits and EPS, considering the environment of the last year, is highly impressive and shows that the trading model is very strong." Keeps the stock at buy. Shares +1% at 555p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 21, 2010 06:55 ET (10:55 GMT)