UK MARKET TALK ROUNDUP: BROKERS COMMENTS

24th Jun 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] JPMorgan Cazenove lifts Centrica (CNA.LN) price target to 385p from 365p. This takes account of the recent rally in UK gas prices, the changes to corporation tax announced in Tuesday's budget and the company's May 10 interim statement. The updated target price implies 29% upside from the current share price. JPMorgan expects the company's update on July 28 to be strong due to the cold winter in the UK boosting residential gas demand at the same time as wholesale gas prices remained subdued. Overweight rating. Shares closed Wednesday at 299p. ([email protected]) 0558 GMT [Dow Jones] Jefferies International downgrades Imagination Technologies (IMG.LN) to hold from buy given the recent share price rise. Says "we caution buying significantly above 300p." Still, notes the company's decent FY '10 figures, and raises target price to 325p from 290p. The firm reiterated its outlook and trading sentiment should continue to be positive, says Jefferies. Shares closed Wednesday at 295p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 24, 2010 02:17 ET (06:17 GMT)