MARKET TALK: Arden Ups Ashmore Price Targets, 2010 Estimates

14th Jul 2010 08:48

0748 GMT [Dow Jones] Arden Partners increases Ashmore Group's (ASHM.LN) price target to 330p from 303p. Broker also revises up 2010 revenue estimates to GBP277m from GBP245m, while increase profit before tax forecasts for the year to GBP197m from GBP171m. It upgrades EPS expectations to 19.8p from 17.2p. Says shares have "derated significantly as the market is calling the end for emerging market credit funds" and so provides investors with an opportunity to buy a "quality business on a value rating with a 5% yield and strong balance sheet." Has buy recommendation. Shares +5.5% at 278p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 03:48 ET (07:48 GMT)