DJ MARKET TALK: JP Morgan Lowers MLP Target, EPS Estimates

08/10/06 - Dow Jones Newswires

0721 GMT [Dow Jones] JP Morgan lowers MLP's (MLP.XE)price target to EUR15.40 from EUR16.10, following an '06 profit warning and 2Q results. Says profit warning reflects issues MLP can address effectively, and doesn't signal the company business model is no longer working. Expects medium-term slowdown in sales due to a lack of new consultant recruitment since start '06. Cuts '06 EPS estimate to EUR0.58 from EUR0.74. '07 EPS adjusted to EUR0.80 from EUR0.81, '08 EPS to EUR1.09 from EUR1.08. Keeps neutral rating. Shares trade -2.1% at EUR14.10. (JYP)

 
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(END) Dow Jones Newswires

August 10, 2006 03:21 ET (07:21 GMT)

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