MARKET TALK: Singer Cuts Carpetright Price Target

30th Jun 2010 12:14

1114 GMT [Dow Jones] Singer cuts Carpetright (CPR.LN) price target by 30% to 600p. Says growth faded in 2H, in contrast to the pronounced recovery in 1H. Thinks the pace of recovery is likely to remain subdued for most of the current year and new contract sales in particular are taking time to build. Says it could be a "bumpy ride" over the next six to 12 months given comparatives and housing market volatility. However, says Carpetright's business platform and balance sheet are in good shape. Keeps at fair value. Shares are +0.2% at 642p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 07:14 ET (11:14 GMT)