MARKET TALK: Deutsche Initiates Carillion At Buy

23rd Jul 2010 07:06

0606 GMT [Dow Jones] Deutsche Bank initiates Carillion (CLLN.LN) at buy with 393p target. Says in response to the UK Government's 30% cut to capital expenditure by the end of the current parliament, Carillion is phasing down its UK construction revenues by GBP600M over the next three years. Expects a hiatus in new public-private partnerships projects in the near term. These pressures on UK construction and PPP have been factored into Deutsche Bank's forecasts. Sees medium-term growth in areas such as Canadian PPP and Middle East construction. Carillion shares closed Thursday at 319p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 02:06 ET (06:06 GMT)