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BUZZ-Laird: profit-taking

Fri, 09th Jan 2015 10:23

** Electronic components maker Laird top UK midcap faller, down more than 8 pct, as investors lock inprofits after a strong run into an in-line trading update onFriday

** Stock had risen more than 7 pct in 3 days prior to thestatement

** Co says in a brief statement its expectations for 2014remain on track & it is "encouraged" by its outlook

** UBS calls statement solid, & co's valuation undemandingat 13 times 2016 PE vs peers on 16 times

** Broker hikes TP to 355p vs 350p to reflect strength ofUS$; North America accounted for 33 pct of co's 2013 revenue,according to Thomson Reuters data

** Liberum analysts believe strong Apple shipments,continued momentum in US auto sales & weaker pound in Q4 offsetsoftness at Samsung Electronics (RM: noor.hussain.thomsonreuters.com@reuters.net)