Coverage of Exel Started

Thursday, January 25, 2001
Lehman Brothers initiated coverage of British logistics group Exel Plc with a "market perform" recommendation and a target price of 1,090 pence. "While Exel remains one of our preferred stocks in the sector, our sum-of-the-parts analysis highlights only eight percent upside from current levels," Lehman said in a research note. – (Reuters)

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