Foschini wins positive rating
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June 12, 2009, 8:30 am
Filed under: Retail
Filed under: Retail
Foschini, South Africa’s third-largest clothing retailer, was upgraded to buy at Bank of America-Merrill Lynch yesterday.
The brokerage raised its 12-month price estimate on the retailer to R54 from R45. Bank of America also increased the retailer’s earnings estimate for next year by 6 percent. – Bloomberg
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