STOCKS NEWS UK SMALL-Devro gains on update; Investec ups target

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15.44GMT 17Nov2008-Devro gains on update; Investec ups target

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Shares in Devro (DVO.L) gain as much as 5.9 percent after the sausage skin maker's third quarter interim management statement (IMS) pleases, with house broker Investec raising its target price to 85 pence from 74.

Investec says Devro's Q3 IMS reads positively, with the group's board stating that it is confident full year performance will meet its expectations.

The broker says Devro's sales generally continue to show good growth and the firm is still showing a positive trend in pricing versus last year, while costs are in line with the broker's expectations.

Investec says it is leaving its full year forecasts for Devro unchanged after the trading update, but has increased its target price in line with a general improvement in sector ratings. The broker has a "buy" rating on the shares.

Reuters Messaging:jon.hopkins.reuters.com@reuters.net

14:00GMT 17Nov2008-Carphone falls on outlook, demerger worries

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Shares in Carphone Warehouse (CPW.L) fall over 10 percent to as low as 127.25 pence on worries of a gloomy outlook statement from Europe's biggest independent mobile phone retailer at its interim results on Tuesday and concerns that any demerger of its telecoms business might be a long time in coming.

"With all the best will, you can't see how the company would be bucking the trend in terms of retail and then (mobile handset maker) Nokia had a profit warning last week," said Daniel Stewart analyst Mike Jeremy.