STOCKS NEWS EUROPE-Nestor Healthcare up as brokers upgrade

Shares in Nestor Healthcare Group Plc NSR.L gain more than 5 percent after the healthcare staffing specialist posts a fall in 2009 pretax profit but gives an upbeat outlook for 2010, prompting brokers to upgrade forecasts.

The company says the momentum of volume growth from its social care segment, which contributes nearly 70 percent of the company's revenue, has been sustained in the early months of 2010 and expects it to continue. [ID:nSGE62A093]

"Given the positive outlook and the strong end to the year, we anticipate putting through 6 percent upgrades to our 2010 and beyond forecasts, giving new 2010 pretax profit of 9.2 million pounds," says Sebastien Jantet, an analyst at Investec Securities.

The broker keeps a 'buy' recommendation and lifts its price target on the stock to 69 pence from 65 pence previously.

Brewin Dolphin upgrades the stock to 'add' from 'hold' and lifted its price target to 56 pence from 40 previously. It also raises its pretax profit forecast to 9.5 million pounds from 9 million previously.

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Reuters messaging rm://aditi.samajpati.reuters.com@reuters.net