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29 June 2006 
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CATEGORY: BROKER RECOMMENDATIONS     SECTOR: CONSTRUCTION & MATERIALS

Broker snap: Hanson guidance trimmed

Thu 29 Jun 2006

HNS - Hanson
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Latest Prices
Name Price %
Hanson 650.50p +1.64%
 
FTSE 100 5,792 +1.99%
FTSE 350 2,997 +1.87%
FTSE All-Share 2,943 +1.83%
Construction & Materials 4,052 +0.98%
LONDON (SHARECAST) - JP Morgan cut estimates on building materials group Hanson today, trimming its guidance for 2006 and 2007 by 4-5% and sticking with its “underweight” advice.

The broker also trimmed its price target, to 646p from 652p, noting that Hanson expects profits to halve in the first half at its UK building products businesses, while costs are also set to increase.

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