MARKET TALK: Weir Acquisition Complementary - Altium

14th Jun 2010 07:56

0656 GMT [Dow Jones] Weir Group's (WEIR.LN) acquistion of Malaysia-based Linatex "is clearly a complementary acquisition for the group but would appear to be earnings-dilutive in the current year," says Altium Securities. It notes the company's surprise update shows trading has been stronger than expected, particularly in the minerals division and SPM. Altium adds that orders continue to exceed expectations. It says the stock remains materially underpriced. Keeps at hold with 1139p target. Shares closed Friday at 951p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 14, 2010 02:56 ET (06:56 GMT)