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Friday July 3rd 2009
Brokers note - DSG International
Archived article dated Friday July 3rd 2009
Credit Suisse has increased its forecasts on DSG International following its recent results and is retaining its 'Outperform' recommendation on the company.
The broker says the increase in its pre-tax profit forecast for 2009/10 from £12.4 million to £28.5 million reflects the elimination of losses from the group's discontinued businesses and sale of its Hungary-based operations. Credit Suisse says it bases its 'Outperform' rating on the prospects for longer term restructuring at DSG rather than any short term consumer recovery. The broker has a target price of 38p, which compares with an underlying share price of 22p following the 1% increase in early trading today (July 3).
Tagged as: dsgi |
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