MARKET TALK: UBS Upgrades TUI Travel To Buy From Neutral

5th Jul 2010 07:15

0615 GMT [Dow Jones] UBS upgrades TUI Travel (TT.LN) to buy from neutral, but cuts its target price to 250p from 265p. Says "market risk aversion and concerns that the depreciation in the euro or a late collapse in summer '10 sales will cause significant earnings downgrade seem to have caused the shares to sharply underperform the leisure group." However, feels the stock is now good value, adding it offers around 11.5% cash flow yield. Still, prefers Thomas Cook (TCG.LN), which it rates at buy. TUI shares closed Friday at 209p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 05, 2010 02:15 ET (06:15 GMT)

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