MARKET TALK: Tate & Lyle Trading Outlook 'Neutral' - Analyst

22nd Jul 2010 07:49

0649 GMT [Dow Jones] Tate & Lyle PLC's (TATE.LN) interim trading statement "is pretty neutral," says Investec Securities analyst Martin Deboo. Says: "I wouldn't have thought it provided much fuel for upgrades. Given the run the stock has had, I feel it's a pretty neutral statement. All the reported trends and events are in line with what we would have expected." Tate & Lyle said it expects continued steady demand for its speciality food ingredients. Deboo says the company's shift towards speciality ingredients and disposal of sugar operations is "generally correct, but it all comes down to the execution of the strategy." Keeps buy rating and 550p target price. Shares closed Wednesday at 468p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 22, 2010 02:49 ET (06:49 GMT)