Broker tips: Petrofac, M&S, Travis Perkins

17th Oct 2014 12:44

Liberum has maintained its cautious stance for oilfield services group Petrofac, but said that the company's third-quarter update on Friday should reassure investors.The broker reiterated its 'hold' rating and 1,112p target price for the stock. However, it said: "The market generally expected Petrofac to miss this year's guidance so confirmation should be met with some relief."Credit Suisse has slashed its target price for the shares of Marks & Spencer by 15%, saying it sees "few signs of recovery" at the high street department store chain. The bank has cut its target from 425p to 360p and repeated an 'underperform' rating on the stock.It believes hopes are fading for a turnaround and the company's 5% dividend yield is likely to be the only thing providing support for the shares.Travis Perkins' shares were dented on Friday by the news of a slowdown in growth in the third quarter, but analysts at Charles Stanley remained optimistic, upgrading the stock from 'hold' to 'accumulate'."Although the pace of growth has slowed in the third quarter compared to the first half it is still quite a healthy rate of growth especially given that the comparative quarter was also strong," said Charles Stanley's Tony Shepard.