Goldman Sachs Retains Neutral Rating For Tate & Lyle (GS, TATYY)

Goldman Sachs GS has maintained its neutral rating for Tate & Lyle (TATYY). Tate & Lyle earned £4,405 million in revenue last year. It is expected to record £3,589.8 million in revenue for its current year. Goldman Sachs (GS) adjusted its estimates upward by 0.3%. Similarly it also raised its expectations for ’11 revenue by 1.5% to £3,469 million. The company’s EBIT estimates for year ’10 and ’11 have been increased by 0.5% and 2.2% respectively. The new estimates stand at £291 million and £326.5 million respectively. Tate & Lyle has been given a price target of 493 pence, which shows 11% upside from its current price of 443 pence. Goldman Sachs also boosted its EPS estimate for the firm from 36.77 pence to 36.92 pence.