MARKET TALK: UBS Cuts De La Rue Price Target

26th Jul 2010 10:12

0912 GMT [Dow Jones] UBS cuts De La Rue (DLAR.LN) price target to 695p from 860p. Says the production issues at the company are serious and could affect De La Rue's reputation, making the stock one to avoid. Notes the company's weakening order book, as well as the fact margins are at a peak. UBS applies a lower multiple to the business to reflect its view that FY'10/'11 will prove peak or close to peak earnings. Keeps the stock at sell. Shares -0.8% at 769p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 26, 2010 05:12 ET (09:12 GMT)