1003 GMT [Dow Jones] ABN Amro cuts Hanson (HAN) target to 765p from 775p. Follows reduction in target PE multiple to 14.0x from 14.5x following the recent stock market selloff. But ups EPS to 52.5p from 50.0p in 06 and 07 to 54.5p from 53.5p following trading statement which showed a better-than-expected performance in North America and progress in the UK and Australia. "Our thesis on Hanson is intact - we believe that despite the weakening US housing market the company can continue to trade well, as evidenced by the latest trading statement, and this could lead to further earnings estimate upgrades," it says. Maintains buy rating. Trades +1.2% at 647p. (DWE)
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