MARKET TALK: UBS Raises Carpetright To Neutral

10th Jun 2010 07:34

0634 GMT [Dow Jones] UBS raises Carpetright (CPR.LN) to neutral from sell, believing that the recent de-rating leaves the stock more fairly valued, both on absolute valuation and relative to the sector. Still, "we remain cautious regarding the near term outlook for Carpetright, with consumer spending likely to remain tight, but think that this is balanced by good prospects in the longer term when the market recovers," adds UBS. As a result, it lowers Carpetright target price to 680p from 750p. Shares closed at 667p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 10, 2010 02:34 ET (06:34 GMT)