Chelford "strong buy," target price raised

02/03/05 - Arbuthnot

LONDON, February 3 (newratings.com) - Analyst Robert Sanders of Arbuthnot Securities maintains his "strong buy" rating on Chelford (CHR). The target price has been raised to 275p.

In a research note published this morning, the analyst mentions that the company has won a contract from Inter Link Foods to provide its TROPOS ERP software and associated services worth £350,000. The analyst expects Chelford to continue to gain market share in the near term. The company's stock is undervalued at present, according to Arbuthnot Securities.