MARKET TALK: UBS Cuts Smith & Nephew Price Target, EPS

5th Jul 2010 09:04

0804 GMT [Dow Jones] UBS cuts Smith & Nephew (SN.LN) price target to 730p from 760p, citing currency headwinds. Says continuing economic uncertainty will likely see the management taking a cautious stance on its sales outlook in '10. Cuts its '10 EPS estimate to $69.23 from $70.52, and '11 EPS estimate to $76.03 from $77.94. "Recent share price weakness suggests that currency hits to 2Q '10 and a cautious near-term outlook is reflected in the share price." Keeps the stock at buy. Shares +0.8% at 586p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 05, 2010 04:04 ET (08:04 GMT)