UPDATE: Digital Look broker talk

4th Nov 2011 09:23

Royal Bank of Scotland: "The Q3 figures are very similar to expectations, with no negative surprises. The strengthening of the balance sheet has continued...However, the longer-term challenges remain" [Nomura].Royal Bank of Scotland: "Despite the endless additional political and regulatory roadblocks placed in its way, against all the odds, RBS is, slowly but surely, making progress" [Evolution Securities].Tate & Lyle: "The Focus, Fix, Grow strategy seems to be proving productive and with a meaningful period since its introduction the programme has meant that the group now has a far more focused operation with reduced exposure to commodity markets" [Charles Stanley].Man Group: "We...retain Man Group on the BUY list but acknowledge that in the near term, other than the Company, the marginal buyers are unlikely to step in until AHL performance substantially improves" [Singer Capital Markets].Man Group: "Given challenging markets and low expectations going into H1, we see this update as reassuring on most key concerns...Man Group is our top pick among the UK asset managers" [UBS].Millennium & Copthorne Hotels: "-M&C is trading at undemanding multiples (12.0x FY11E P/E) and offers upside as a geared hotels recovery play and asset-backed owner of gateway hotels" [Evolution Securities].