Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk,
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[email protected] 0717 GMT [Dow Jones] JPMorgan Cazenove initiates Hikma Pharmaceuticals (HIK.LN) at overweight with 870p target, citing leading long-term growth and the potential for a near-term EPS beat. Notes Hikma's competitive advantages as the top local player in the Middle East & North Africa pharmaceutical market, which has shown sustainable growth of 14% per year between '05 and '09, well above 5%-7% global pharma market growth. JPM expects a substantial earnings beat in the company's H1'10 results and upgrades to '10 EPS, based on strong US generics sales. Shares +1.1% at 696p. (
[email protected]) 0701 GMT [Dow Jones] Seymour Pierce remains cautious on Punch Taverns (PUB.LN). In tone, the trading update is more positive than in the last 2 years, it says. However, "we do not believe that the underlying long-term trend has moved into the growth momentum that the business needs to provide sustainable growth in value for equity holders." Says debt remains a key concern. Rates at sell. Shares +2.2% at 66p. (
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[email protected] (END) Dow Jones Newswires July 06, 2010 03:17 ET (07:17 GMT)