MARKET TALK: SocGen Raises AB Foods Price Target

9th Jul 2010 11:28

1028 GMT [Dow Jones] Societe Generale raises AB Foods (ABF.LN) price target to 1046p from 1019p following the company's 3Q update. The statement shows Primark "powering on," and the brokerage raises its current year high-end-of-consensus EBIT forecast for Primark to GBP314M from GBP290M. It says the international expansion potential of Primark is becoming increasingly clear. "Low price and low margins are the key characteristics that should enable Primark to take market share wherever it goes." Keeps the stock at hold. Shares +0.7% at 1002p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 09, 2010 06:28 ET (10:28 GMT)