Daily Telegraph, What the brokers say, 17 December 2005:
"Sell at 73p (this week's price 76p), says Teather & Greenwood. Howden, MFI's building products division, has provided it with strong growth for several years, says Teather. However, news that Howden is finding trading tougher has caused the broker to cut profit forecasts for 2006 and beyond. At least shareholders will be spared the losses from non-core activities that are closing. But the shares are expensive relative to the earnings outlook, claims Teather."
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