Broker tips: StanChart, TUI Travel, Intu Properties

7th Aug 2013 11:36

Emerging markets-focused bank Standard Chartered was in focus on Wednesday, a day after its interim results impressed the market, with a number of brokers reacting to the figures.Numis raised its rating for the stock to 'add', while Exane BNP Paribas stayed 'neutral' and lifted its target price from 1,550p to 1,700p. Morgan Stanley also maintained a 'equalweight' stance but nudged its target slightly higher from 1,627p to 1,640p. While UBS cut its target price for company's shares from 1,830p to 1,790p owing to reduced forecasts for next year due to the impact of Asian currency depreciation, the broker maintained its 'buy' recommendation, saying that the results were "resilient" and more or less in line with forecasts.Panmure Gordon has maintained its 'hold' recommendation for travel operator TUI Travel despite strong trading in the third quarter, as it reiterated its preference for sector peer Thomas Cook."Whilst we believe TUI Travel is a strong operator with good long-term growth potential, in our view Thomas Cook offers more substantial upside from the improvement in underlying like-for-like trading, in addition to potential increases to cost savings targets and future dividend payments."Goldman Sachs has cut its rating for retail-focused real estate group Intu Properties from 'neutral' to 'sell' following a weaker-than-expected first half.Goldman pointed out that Intu's shares have underperformed the wider European real estate sector by 10% so far in 2013 and the 2.9% decline in like-for-like (LFL) rental income in the first "highlights ongoing challenges". With a large number of leases expiring in the second half, negative pressure on LFL trends is likely to be maintained, it said.BC