MARKET TALK: UBS Upgrades Inchcape To Buy From Neutral

12th Jul 2010 07:57

0657 GMT [Dow Jones] UBS upgrades Inchcape (INCH.LN) to buy from neutral and nudges up the price target to 330p from 310p. Describes the share price performance as "lackluster," despite a 50% increase in FY '11 earnings over the last 12 months. Thinks the current trading level is a good entry point. Also, says the volatility and low visibility of the recovery is partly mitigated by Inchcape's geographic diversity and its quality brand relationships. In addition, sees upside potential from opportunities to grow by acquisition and contract wins. Shares closed Friday at 270.2p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 12, 2010 02:57 ET (06:57 GMT)

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