MARKET TALK: UBS Raises Homeserve Price Target

7th Jul 2010 07:12

0612 GMT [Dow Jones] UBS raises Homeserve (HSV.LN) price target to 2080p from 1900p. Says while 1H typically has a seasonally lower proportion of profits, there is significant underlying activity in the business. Notes new customer growth initiatives in the UK, the development of the Agbar partnership in Spain, the new presence in Italy, the closure/development of the National Grid acquisition, and the two new large affinity partnerships in the USA. Says strong relative performance during the market correction since mid-April has been underpinned by the positive international developments. However, given the recent strong share price performance, keeps at neutral. Shares closed Tuesday at 2076p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 07, 2010 02:12 ET (06:12 GMT)