Orco shares jump on M.Stanley report-traders

14.02.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Shares in Czech real estate developer Orco Property Group rose 5 percent on Wednesday following an 'overweight' recommendation ...

...released by Morgan Stanley, traders said.

The stock price was up 4.98 percent at 3,565 crowns at 1055 GMT, after reaching a record high of 3,629 earlier.

One trader said the Morgan report put Orco on a target price of 160 euros, equal to 4,520 crowns at Wednesday's exchange rate.

Shares in another property developer, ECM were up 2 percent at 1,570.

The wider market gained 0.97 percent, measured by the PX index.

No one at Morgan Stanley could immediately be reached for comment.

[PRAGUE/Reuters/Finance.cz]

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