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Glance-STOCKS NEWS EUROPE-Zytronic gains after results
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Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity News
10:01GMT 03Dec2008-Zytronic (LSE: ZYT.L - news) up after results; Brewin Dolphin (LSE: BRW.L - news) retains 'buy
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Shares in Zytronic gain 7.4 percent after the manufacturer of touch
sensors and optical filters for electronic displays unveils full-year results,
with pretax profits up 155 percent.
'Zytronic has achieved extremely strong results, ahead of expectations at
both profit and cash levels,' says Brewin Dolphin in a note, retaining its 'buy'
recommendation.
'We reduce our price target to 175 pence (from 286 pence) in line with the
recent market derating, but still see significant upside and believe that
Zytronic can offer growth even in these conditions,' says the broker.
Brewin Dolphin highlights that the wide spread of end markets and
geographies served reduces risk for the company.
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