Newspaper article The Evening Standard (London, England)

Taking Stock Your at A-Glance Guide

Newspaper article The Evening Standard (London, England)

Taking Stock Your at A-Glance Guide

Article excerpt

TAKING STOCK YOUR AT A-GLANCE GUIDE

BANKING AND FINANCE

Dresdner Kleinwort has given the thumbs-up to full-year numbers from Alliance & Leicester, raising its rating from hold to add and its price sights from 1120p to 1130p. It highlights improving operational performance and flat bad debts.

BUILDING AND PROPERTY

Full-year profits at George Wimpey beat forecasts, but Teather & Greenwood fears another tough year for the US housing market.

Saying the order book is down and the build-up of its land bank may take time, it repeats its hold rating.

CONSUMER

Coca-Cola has finalised a deal to buy San Miguel's stake in Coca-Cola Bottlers Philippines Inc for around [pounds sterling]300 million. The purchase gives it full ownership of the company, which is one of the world's top 10 Coke bottlers.

ECONOMICS

The US Federal Reserve left interest rates on hold last month because of uncertainty about the future path of inflation, minutes of its meeting showed. "Participants did not yet see a downward trend in core inflation as definitively established," said the notes.

ENGINEERING

Dresdner Kleinwort has cut carmaker Volkswagen from hold to reduce while maintaining its target at e79. The broker says the share price has reached unjustifiably high levels, notwithstanding its ambitious 2008 earnings targets.

HEALTH

GlaxoSmithKline has warned about the risk of fractures to women taking its diabetes treatment Avandia. Sanford Bernstein says it follows the launch of Merck's rival Januvia. It keeps its outperform rating and 1700p target.

INDUSTRIALS

Croda International traded record highs post full-year profits.

Morgan Stanley says the chemical group's restructuring of its Uniqema acquisition is well under way, and repeats its overweight rating and target price of 725p.

LEISURE

Banc of America Securities has raised Warner Music from neutral to buy and its share-price target by $1 to $25. The bank says a takeover of EMI will be easier to consummate this time and reckons the combined company could be worth up to $29 a share.

MEDIA

Deutsche Bank remains a buyer of retail research outfit Taylor Nelson, and has raised its target from 230p to 250p. …

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