Credit Suisse First Boston raised its rating on UK telecoms company Cable & Wireless to "neutral" from "underperform" on Thursday, setting a price target of 130 pence. "What has changed for us in the last few months has been positive news in the Caribbean (strong Q3 mobile revenue), fresh cost cutting initiatives in the UK and a gradual lowering of consensus EBITDA forecasts," CSFB said in a note.
Cable & Wireless shares closed at 134 pence on Wednesday.

Copyright Reuters, 2005

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