Broker snap: Panmure reiterates buy on Carillion

22nd Aug 2011 12:22

Panmure Gordon said that it remains a buyer of UK support services giant Carillion ahead of the firm's first half results on 24 August."With scope to chat about the integration and opportunities provided by Eaga [green support services business which Carillion bought in February for £298.4m], there will be less time dedicated to talking about what remain tough markets," said analyst Andy Brown.Furthermore, the pre-close trading update on 7 July showed that the firm was trading in line, with the synergy benefits from the Eaga acquisition being realised ahead of earlier guidance."With its clear strategy and attractive valuation, we are buyers," Brown said.A target price of 400p is kept.By 12.22 on Monday, shares were trading 1.71% higher at 303.9p.BC