Broker tips: ITV, Lonmin, Aquarius Platinum

27th Jul 2011 12:57

Peel Hunt says that everything's "going to plan" at ITV, and keeps its buy rating and 102 target price for the terrestrial broadcaster."Now that the World Cup effect is behind us, we expect that a decent autumn schedule with the usual high audience entertainment shows will be supported by new drama output and game show formats," said analyst Patrick Yau."The shares currently reflect investor concerns over the consumer, but the turnaround plan seems to be working and we look forward to ITV putting its cash to good use."Credit Suisse has upgraded Lonmin, the platinum group metals (PGM) miner, from underperform to neutral, following the recent decline in the share price.The Swiss broker notes that Lonmin has fallen 33% over the year-to-date, significantly underperforming the PGM basket price and the South African PGM and UK mining space."We have had an underperform rating on the stock all year due to concerns over costs, currency and valuation, however, we believe current earnings and valuation reflect these risks more adequately," Credit Suisse said.The target price stands at 1,322p.UBS has said that Aquarius Platinum's fourth quarter was a disappointing one in production terms, and cuts its target price from 320p to 300p.Attributable platinum group metals (PGM) production fell by 7% quarter-on-quarter to 114koz, 11% below consensus and under UBS's target of 140koz.The broker keeps it neutral rating on the miner, saying that with the exception of the Mimosa project in Zimbabwe, "operations disappointed across the board".BC