MARKET TALK: UBS raises Tate & Lyle Price Target

18th Jun 2010 07:43

0643 GMT [Dow Jones] UBS raises Tate & Lyle (TATE.LN) price target to 515p from 460p to reflect favorable currency effects and lower debt/pension deficit, following the company's solid FY'10 results. Notes another beat on cash flow. Says year end net debt fell by GBP370M to GBP814M, as the management have reined back capex and focused efforts on reducing working capital. Keeps the stock at neutral. Shares closed Thursday at 497p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 18, 2010 02:43 ET (06:43 GMT)