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HellermannTyton upgraded by Numis

29 April 2015 14:20

Numis has upgraded its recommendation on HellermannTyton (LON:HTY) to 'add' from 'hold' following today's first quarter trading update, stating that it believes the shares continue to offer a solid investment prospect.

The broker said: "HT underlying dynamics remain positive for the group.

"A PE of 15x provides a fair if not cheap entry point for this medium term growth engine."

Separately, JP Morgan Cazenove repeated its 'overweight' call and 380 pence a share price target.

At 2:20pm: (LON:HTY) HellermannTyton Group share price was +3.6p at 339.6p

Story provided by StockMarketWire.com

Related Company: HTY

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