MARKET TALK: Shore Cuts Home Retail '11 Profit Forecast

16th Jun 2010 07:53

0653 GMT [Dow Jones] Shore Capital cuts its pretax profit forecast on Home Retail (HOME.LN) by 8% to GBP292 million and assumes a weaker sales environment for its two businesses, Argos and Homebase. "Argos has had a difficult start to the year, impacted by weakness in two significant product categories, namely televisions and gaming," analyst Kate Calvert says. However, Calvert says the intrinsic value of the stock remains attractive. Buy rating. Shares closed Tuesday at 231 pence. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 16, 2010 02:53 ET (06:53 GMT)