LONDON, July 1 (newratings.com) - Analysts at Panmure Gordon downgrade Morgan Sindall (LSE:
MGNS.L -
news) (ticker: MGNS.L) from "buy" to "sell."
The target price has been reduced from 690p to 620p
In a research note published this morning, the analysts mention that the company has reported in-line trading for the first half of the current year. Morgan Sindall has, however, reported that its order book has eased since May and that competitive pressures have increased in recent weeks. The company's share price has appreciated by 27% since mid-February and outperformed the overall markets, the analysts add.
© 2009 New Ratings
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