MARKET TALK: KBC Raises Ashmore Price Target

15th Jul 2010 08:56

0756 GMT [Dow Jones] KBC Peel Hunt lifts Ashmore Group (ASHM.LN) price target to 320p from 305p following the company's better than expected trading update. Raises '10 EPS estimate to 20.2p from 18p to reflect the higher opening level of assets under management. Says the stock is well supported by both earnings and the cash on the balance sheet. Says: "We consider this valuation remains attractive, given the long-term potential for the continued development of emerging market debt as an asset class." Keeps the stock at buy. Shares -4.3% at 262p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 15, 2010 03:56 ET (07:56 GMT)