MARKET TALK: UBS Cuts Carpetright Price Target

30th Jun 2010 11:49

1049 GMT [Dow Jones] UBS cuts Carpetright (CPR.LN) price target to 660p from 680p, following the company's FY results. Notes the outlook for sales recovery is weaker than previously expected. As a result, the brokerage pushes back its forecast for sales recovery 12 months and cuts it '11 EPS estimate to 34p from 41p and its '12 EPS estimate to 43.9p from 54.7p. Still, reckons the cost control measures implemented to-date and strong negotiation with suppliers will enable Carpetright to ride out the downturn by keeping prices low and winning market share. Keeps at neutral. Shares +0.2% at 642p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 06:49 ET (10:49 GMT)

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