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Broker snap: Buy Intertek, says Prime Markets.

Mon, 01st Aug 2011 13:30

Buy testing and inspections firm Intertek, recommends Prime Markets, which said that the group's interim results show improvement in every metric."Not only has Intertek delivered an exceptional performance in 2011 to date, but it has improved on every metric in its interim results statement this morning, with profits, revenues, net cash and interim dividend all higher," said head of dealing Richard Curr.The firm reported a 14% rise in pre-tax profits on revenues that were 17% ahead. The dividend was raised by 15%."These bullish fundamentals are also backed by a great chart position, which suggests the shares are bouncing off a higher low while supported at current levels by the all important 200-day line," Curr said.Prime Markets believes that the price could return to May highs of 2,150p.Shares rose 6.16% to 2,033p at 13:30 on Monday.BC

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