MARKET TALK: UBS Upgrades Savills To Buy From Neutral

2nd Jul 2010 07:45

0645 GMT [Dow Jones] UBS upgrades Savills (SVS.LN) to buy from neutral. Says the shares have declined by 25% from their peak in mid-March. Thinks this represents an attractive entry point. Cuts the price target to 300p from 360p. Meanwhile, expects a strong 1H, reflecting a continuation of the momentum seen in 4Q '09. Says 1H activity has been particularly strong in Asia Pacific but there are signs of this cooling, and thinks this momentum will cool in 2H, particularly in China. Lifts '10 EPS forecast to 16.1p from 15.3p and '11 to 20p from 19.9p. Shares closed Thursday at 274.8p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 02:45 ET (06:45 GMT)