MARKET TALK: UBS Raises Halma Price Target

23rd Jun 2010 09:54

0854 GMT [Dow Jones] UBS raises Halma (HLMA.LN) price target to 280p from 260p, saying it views the company's new margin range as positive for the investment case. Notes Halma is breaking with tradition and opting for margins of 'at least 18%.' "With volumes recovering, we expect 20.4% margins to be reached in '11 as management relax the threshold." Says Halma is not seeing any headwinds to growth. Says the company sits in an enviable position, with a net cash balance sheet and cash generation likely to remain strong. Keeps the stock at neutral. Shares -0.5% at 274p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 23, 2010 04:54 ET (08:54 GMT)