MARKET TALK: JPMorgan Starts Hikma At Overweight

6th Jul 2010 08:17

0717 GMT [Dow Jones] JPMorgan Cazenove initiates Hikma Pharmaceuticals (HIK.LN) at overweight with 870p target, citing leading long-term growth and the potential for a near-term EPS beat. Notes Hikma's competitive advantages as the top local player in the Middle East & North Africa pharmaceutical market, which has shown sustainable growth of 14% per year between '05 and '09, well above 5%-7% global pharma market growth. JPM expects a substantial earnings beat in the company's H1'10 results and upgrades to '10 EPS, based on strong US generics sales. Shares +1.1% at 696p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 06, 2010 03:17 ET (07:17 GMT)