Newspaper article The Evening Standard (London, England)

Portfolio

Newspaper article The Evening Standard (London, England)

Portfolio

Article excerpt

BUY J SAINSBURY

ING is getting ever keener on supermarkets giant Sainsbury's. The bank expects its pre-tax profit forecast of [pounds sterling]530 million to be achieved, and notes that the company has maintained market share in recent quarters. ING praises the reputation of the chain's own-label brand as a "real asset in these challenging times", and hopes Sainsbury's will distance itself from the Tesco-against- Asda promotional battles. Analysts report that the chain has continued to improve its value for money credentials, and had a pleasing Christmas trading performance.

Sainsbury's shares today rose 23/4p to 3311/2p.

SELL DAIRY CREST

JPMorgan rates milk supplier Dairy Crest "underweight" after Robert Wiseman Dairies said it has cut prices to UK dairy farmers, and now faces an improved operating earnings outlook.

The bank says the risk about Dairy Crest has increased as a result.

Analysts report that Dairy Crest will be cutting the price it pays farmers for raw milk at the start of February, and the bank expects further drops in 2010. …

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