UK MARKET TALK ROUNDUP: BROKERS COMMENTS

5th Jul 2010 07:17

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0617 GMT [Dow Jones] ING nudges up Travis Perkins (TPK.LN) price target to 965p from 960p following the company's positive 1H trading update. Says management's confidence in the group's business and cash generation were shown by an indication that dividends would resume this year with an interim dividend of 5p. Expects better growth in '10 and says margins/profits are likely to be stronger than consensus. Also notes there is no apparent rival bid for BSS Group (BTSM.LN). Keeps Travis Perkins at buy. Shares closed Friday at 754p. ([email protected]) 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. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 05, 2010 02:17 ET (06:17 GMT)