UK MARKET TALK ROUNDUP: BROKERS COMMENTS

17th Jun 2010 07:19

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] 0619 GMT [Dow Jones] Nomura upgrades Drax (DRX.LN) to neutral from reduce, and raises its price target to 425p from 350p, on the back of strengthening gas prices and a more attractive valuation. Notes the new target price offers about 10% upside potential, alongside an attractive and secure dividend yield of over 8%. In the near term, expects Drax to continue its recent outperformance of the sector. Shares closed Wednesday at 394p. ([email protected]) 0615 GMT [Dow Jones] Royal Bank of Scotland upgrades Reckitt Benckiser (RB.LN) to buy from hold, and raises its price target to 3600p from 3375p. Notes the continued absence of generic competition for Suboxone as well as more favorable forex rates. Expects 2Q to show continued good progress in the base business in a tough environment. Shares closed Wednesday at 3279p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 17, 2010 02:19 ET (06:19 GMT)