UK MARKET TALK ROUNDUP: SHARES GAINING

21st Jun 2010 09:12

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] 0812 GMT [Dow Jones] Credit Suisse raises its Man Group (EMG.LN) target price to 280p from 265p together with a 13% upgrade of its EPS forecast for the year-ending March 2011. Credit Suisse says the changes are meant to reflect the higher proportion of AHL assets-under-managment which are near performance fee high watermarks than the brokerage expected. CS adds that valuation is cheap, but not yet compelling. "Moreover we see limited signs of an underlying positive EPS revision cycle," CS adds. Neutral rating. Shares +2.3% at 254p. ([email protected]) 0801 GMT [Dow Jones] Royal Bank of Scotland initiates coverage on Imagination Technologies (IMG.LN), with a buy rating and 348p target price. Says the company is a play on advanced graphics in smartphones. "Although advanced graphics is already in 66% of smartphones, the technology is in the early stages of growth, with future adoption likely in feature phones, mobile computing, digital televisions and set-top boxes," says RBS. Adds the company looks ideally positioned with a developed graphics ecosystem and main customers in Apple (AAPL), Intel (INTC), Samsung (SSNHY) and Texas Instruments (TXN). Adds the company's technology integrated into customer products ensures longer design cycles with a reduced risk of being designed out. Shares +1.4% at 305p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 21, 2010 04:12 ET (08:12 GMT)