UK MARKET TALK ROUNDUP: SHARES GAINING

16th Jun 2010 09:06

Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0806 GMT [Dow Jones] Panmure Gordon lifts N Brown (BWNG.LN) target price to 320p from 325p, following the acquisition of lingerie e-tailer Figleaves for GBP11.5M. "This acquisition of a well established e-tailer gives N Brown access to a younger, wealthier customer, an international e-tail business, and consolidates N Brown's position as No.1 in UK online lingerie retail." Expects the acquisition to be earnings-accretive in FY '12. Adds the shares are attractively valued on a discount to the sector and to home shopping peers. Keeps the stock at buy. Shares +0.2% at 265p. ([email protected]) 0757 GMT [Dow Jones] Panmure Gordon upgrades Filtrona (FLTR.LN) to buy from hold, and boosts its target price to 265p from 233p. Says the company issues a very positive update, with growth much better than expected and margin improvements dropping through. Adds a number of markets appear to have seen a return of demand, and prospects appear much better than before - albeit with little visibility and certainty. "However, strength of this growth suggests a much better year for Filtrona and given cost reductions and efficiency improvements an increasingly improving bottom line," it adds. Shares +17% at 229p. ([email protected]) 0709 GMT [Dow Jones] GKN's (GKN.LN) creation of a new division shows good diversification, with a strategy for growth and market expansion, notes an analyst. Says this diversification is good news, but it is now up to the management to make the strategy work. The new division, GKN Land Systems, has current annualized sales of GBP700M. The company aims to increase the size of this business over the next five years to sales of about GBP1.5B. Shares +0.5% at 130p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 16, 2010 04:06 ET (08:06 GMT)