Broker tips: Aberdeen, AG Barr, Henry Boot, Dechra

23rd Sep 2013 11:16

Canaccord Genuity reiterated a 'buy' rating and target price of 440p for Aberdeen Asset Management after the investment company said that underlying profits should still come in at the higher end of analysts' forecasts despite volatile markets in the fourth quarter."The current dynamics of slowly strengthening FX and better valuation fundamentals in emerging equity markets should continue to attract flows to the better performers - we view Aberdeen as one of the leading performers," the broker said.Soft drinks maker A.G. Barr reported a strong first half as sales benefitted from a hot summer despite a fiercely competitive market, Investec said."We leave full year [FY] forecasts unchanged as the group faces some tougher revenue competition in the second half, but FY numbers still show +7% for profit before tax year-on-year. We make no changes to our target price [585p] and our recommendation remains 'add'," Investec said.Property company Henry Boot was given a 'buy' rating from WH Ireland Research after reporting a hike in first-half earnings."Following a good set of first half results recently, we still view Henry Boot as attractively valued, and reiterate our 'buy' recommendation with a raised 245p price target (+28%). Results were well ahead year-on-year in terms of the headline numbers and showed good progress across the divisions," WH Ireland said.Veterinary pharmaceuticals group Dechra Pharmaceuticals booked more than a 50% increase in full-year revenue, slightly ahead of Investec's expectations."Whilst our forecasts still have Dechra delivering 11% earnings per share growth in fiscal year 2014 we think the risk remains to the upside given the opportunities on offer for the company," the broker said.RD