MARKET TALK: Nomura Upgrades Inchcape To Neutral

22nd Jul 2010 07:19

0619 GMT [Dow Jones] Nomura upgrades Inchcape (INCH.LN) to neutral from reduce, and lifts its price target to 330p from 320p. Also lifts its FY pretax profit forecast by 7% ahead of 1H results on July 29. Says this is primarily driven by sales and margin improvements expected in Australia, Hong Kong and the UK, offsetting weakness in Singapore and Greece. Sees the potential reinstatement of the dividend as a positive for the stock and a sign of confidence for future cash generation. Shares closed at 310p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 22, 2010 02:19 ET (06:19 GMT)