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Brokers note - N Brown Group

KBC Peel Hunt has reiterated its 'Buy' recommendation on N Brown Group following its interim results that showed a 13% gain in pre-tax profits.

CITY & CORPORATE

Brokers note - N Brown Group

KBC Peel Hunt has reiterated its 'Buy' recommendation on N Brown Group following its interim results that showed a 13% gain in pre-tax profits.

The broker says the results were against strong comparatives last time but they still showed sales 1% ahead in current trade. On a PE of 11x for 2010 earnings KBC Peel Hunt suggests further progress from the shares looks likely.

The broker keeps its price target of 275p unchanged, which compares with an underlying share price of 261.9p following the 3% increase in early trading today (October 14).

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