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Datong

  • BY: Andrew Hore |
  • POSTED: 22/01/2010 |

House broker Canaccord Adams has raised its target price for surveillance technology developer Datong.

Canaccord believes there is a good chance of recovery in the US market in 2011. At the moment it is sticking to its forecast profit of £200,000 for the year to March 2010, which is after a loss in the first half. Even without a significant US recovery, profits could rise to £500,000 in 2010-11.

The shares are unchanged at 45p each, which values Datong at £6.23m.

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