MARKET TALK: Taylor Wimpey Shrs May Weaken Short Term-Investec

28th Jun 2010 12:24

1124 GMT [Dow Jones] Investec Securities remains a buyer of Taylor Wimpey (TW.LN), but thinks the shares could weaken in the short term. The company's 1H update starts off relatively upbeat, but deteriorates in tone, notes Investec. The statement mentions concerns over the Autumn spending review [by the UK government] in terms of the removal of housing grants and planning. Investec adds that the US market remains volatile. It prefers less risky plays in the sector, like Bellway (BWY.LN), Berkeley (BKG.LN) and Galliford Try (GFRD.LN), which it rates at buy. Taylor Wimpey rated buy, 41p target. Shares -1.4% at 30p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 28, 2010 07:24 ET (11:24 GMT)