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STOCKS NEWS EUROPE-Penna Consulting up; broker says "buy"

Thu Jul 2, 2009 10:34am EDT

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Shares in Penna Consulting (PECO.L) gain 9 percent as Collins Stewart sees the human resources consultancy's acquisition of Bakers Group on Tuesday as earnings enhancing.

Collins Sewart, which keeps its "buy" rating, says the purchase of the UK's largest recruitment advertising agency "is 3 percent earnings per share enhancing to Mar-2010".

"On a 2010 price earnings of 6.3 times, we seem ample scope for a re-rating of the shares," Collins Stewart says, repeating its "buy" rating on the stock.

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Reuters Messaging rm://david.brett.reuters.com@reuters.net


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