Interims have surprised on the upside this morning and the full year outlook is expected to be better than management previous expectations. We envisage 3-5% consensus upgrades this morning and lift our 12m TP from 550p to 600p and stay at Buy on growth considerations.
13 Aug 2015
Stronger than anticipated H1 and decent upgrades anticipated
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Stronger than anticipated H1 and decent upgrades anticipated
Interims have surprised on the upside this morning and the full year outlook is expected to be better than management previous expectations. We envisage 3-5% consensus upgrades this morning and lift our 12m TP from 550p to 600p and stay at Buy on growth considerations.