UK MARKET TALK ROUNDUP: BROKERS COMMENTS

29th Jul 2010 07:47

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] 0647 GMT [Dow Jones] Travis Perkins (TPK.LN) reports very strong 1H numbers and overall performance, says Liberum Capital analyst but adds that outlook might "unnerve" the market. Says that Travis Perkins results are ahead of expectations and "ought to be taken in quite well" as the figures present a scope for upgrades. But adds that outlook, although it is ahead of expectations, might unnerve the market in current nervous times. Says that Travis buying BSS is also a very good deal. Has buy rating and target price of 1100p. Shares closed at 830p. ([email protected]) 0647 GMT [Dow Jones] Royal Dutch Shell (RDSB.LN) modestly beating analysts' consensus with its 2Q results gives cause for optimism over its performance in the next few years, says ING analyst Jason Kenney. The good performance has mainly come from very good downstream operations, but despite output growth of 5%, upstream performance is less impressive and Shell's production costs appear to still be high, he says. Gives hold rating, 2063p target. Shares closed down 2.2% Wednesday at 1707p. ([email protected]) 0637 GMT [Dow Jones] AstraZeneca's (AZN.LN) backing by US FDA panel for the use of Brilinta, a proposed anti-clotting drug, was consistent with expectations, says UBS, though contrasted with "market concerns of a split panel, a narrow label, and/or requirements for more trials before US approval." AstraZeneca is seeking FDA approval of the drug to prevent heart attacks and other cardiovascular problems in patients diagnosed with acute coronary syndrome. "We now raise our probability of Brilinta approval in the US to 90% and will update our $3B 2014 Brilinta forecasts (versus consensus at $1.7B) with our 2Q10 AstraZeneca model update," adds UBS. Has a buy rating and 4100p target price on the stock. Shares closed at 3202p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 29, 2010 02:47 ET (06:47 GMT)