UK MARKET TALK ROUNDUP: SHARES LOSING

30th Jun 2010 10:37

Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0937 GMT [Dow Jones] Goldman Sachs cuts Vodafone (VOD.LN) price target to 155p from 171p. It cites challenges due to forex, austerity measures in Europe and competitive risks to the core European business in the medium-term. It thinks a return to revenue growth driven by smart-phones is unlikely and says Vodafone now faces likely negative underlying earnings momentum. GS retains a neutral rating on the stock which, following recent outperformance, no longer looks inexpensive versus the depressed European peers, says Goldman. Shares -1.4% at 140.3p. ([email protected]) 0853 GMT [Dow Jones] Johnson Service Group (JSG.LN) is on course to meet expectations for the FY, says Investec Securities. Although trading has been mixed in 1H, the group has performed satisfactorily. Says dry cleaning has had a very difficult trading period, but should benefit from a restructuring of the business that is currently underway and facilities management should benefit from the very recent acquisition of some contracts. Notes the shares are on a very low rating and enjoy good yield support and reckons there is considerable upside potential on a 12-month view. Keeps at buy with 25p price target. Shares -4.1% at 18p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 30, 2010 05:37 ET (09:37 GMT)