MARKET TALK: Investec Lifts Halma Price Target

22nd Jun 2010 10:02

0902 GMT [Dow Jones] Investec nudges up Halma (HLMA.LN) price target to 315p from 305p, after the half-year results beat the brokerage's expectations. The group's defensive earnings and rock-solid dividend are enhanced by stronger medium-term growth prospects than at any time previously, says Investec. The full-year dividend of 8.5p is a record, a 7% increase year-on-year and the 31st consecutive increase of 5% or more. Investec says the market has been slow to credit management with the progress made and that the stock remains undervalued. Buy rating. Shares -0.2% at 271p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 05:02 ET (09:02 GMT)