Thursday December 30, 10:20 AM
Broker tips: MyTravel on the up
LONDON (ShareCast) - Another sparse day for broker tips, with tour operator MyTravel (LSE: MT.L - news) coming into focus after it received
final approval for its restructuring.
The news led Swiss broker UBS (Virt-X: UBSN.VX - news) to raise its target price to 6p from 5p as it lifted its EPS estimates to 0.13p, from a loss of 5p per share for 2005.
The broker also reiterated its "neutral" stance on the group, saying with the restructuring complete the group can now be seen as a 'going concern'.
UBS said MyTravel expects a strong performance from Europe and North America in 2005 now a number of exceptional costs have been removed from the operations adding that a large stock overhang following the restructuring means the shares are now fair value.
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