12th Feb 2016 17:14
LONDON (Alliance News) - Ibstock PLC late Friday said it has appointed JP Morgan Cazenove and UBS Investment Bank as joint corporate brokers with immediate effect.
UBS raised its price target on Ibstock, the manufacturer of clay bricks and concrete products operating in the UK and US, to 240.0 pence from 235.0 pence last month, retaining a Buy rating.
Last week, Ibstock said that trading was in line with its expectations in 2015, with good revenue growth continuing through the year, leaving it on target to hit market forecasts.
Ibstock shares closed up 0.3% to 205.0 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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