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BUZZ-Electrocomponents: Liberum initiates with "buy"

Reuters - UK Focus

** Electrocomponents (LSE: ECM.L - news) , a distributor of electronic products for engineers, up 1.7 pct after Liberum initiates with "buy", TP 420p

** Liberum analysts say potential from co's cost rationalisation programme is yet to be fully reflected in the share price

** See structural opportunities from co's "unique position" in both the Industrial and electronic markets to drive long-term shareholder value

** Stock, up 52.8 pct yr to Thursday close, second largest gainer on the FTSE Midcap Index

(Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)