Brokers note - DSGi
Credit Suisse has upgraded its forecasts and increased its target price on DSG International ahead of its interim results on November 26.
The broker believes the prospects of better demand in H2 for the current financial year justify pushing its pre-tax profits forecast up from £28.5 million to £52.6 million for 2009/10 and from £67.6 million to £108.7 million for 2010/11.
Credit Suisse has also increased its target price from 38p to 50p, which compares with an underlying share price of 37.05p. The broker is also retaining its ‘Outperform’ recommendation on DSG.
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