Broker round-up: Al Noor Hospitals, IPF, Faroe Petroleum

30th Dec 2013 12:07

Al Noor Hospitals Group's announcement that is has bought the Gulf International Cancer Centre is another important strategic step, according to Jefferies International. The largest private healthcare service provider in Abu Dhabi bought the centre, which offers a range of treatments in oncology, for $21.8m as part of a strategy to broaden its range of services.Jefferies, which recommended a 'buy' rating for the stock, said the company continues to execute in-line with what it communicates. International Personal Finance's (IPF) shares have taken a hit following news last week that it had been fined 2.4m pounds from the Polish consumer protection office over the way it calculated APR amounts. Numis Securities said the drop in shares presented a good buying opportunity."Given the dramatic share price decline we believe this risk is more than reflected in the share price and our recommendation moves to buy," the broker said.Faroe Petroleum received a 'buy' rating from Westhouse Research following the company's announcement that it has started drilling the Butch East exploration well in the Norwegian North Sea.The Butch East well is estimated to target 136m of barrels (mmb) gross. "This well is material in terms of valuation and has the potential to substantially add to the value of the main Butch field which is estimated to contain 55mmb gross or c.8mmb net to FPM," Westhouse said. RD