Broker snap: Admiral's rich valuation is justified, says BofA
25th Apr 2013 09:14
Shares of Admiral may be expensive but worth a 'buy', according to Bank of America Merrill Lynch (BofA) following the car insurer's first-quarter results on Thursday. Group turnover in the first three months fell by 6.0% to £551m but the broker said that year-on-year comparisons "were always going
Read moreLondon open: Stocks rise ahead of UK GDP
25th Apr 2013 08:28
Markets opened strongly on Thursday morning as strength in the mining sector lifted the FTSE 100 higher ahead of the release of UK growth data. British gross domestic product (GDP) is widely expected to have expanded by 0.1% in the first quarter, according to consensus estimates, rebounding after a
Read moreAdmiral's first quarter turnover falls
25th Apr 2013 07:15
Car insurer Admiral Group reported a fall in turnover for the first quarter as tough economic conditions gripped the UK. The company reported a 6.0% drop in group turnover to £551m for the three months to April 24th, compared to £586m a year earlier, reflecting a 9.0% fall in UK car insurance sales
Read moreMonday broker round-up UPDATE
22nd Apr 2013 07:20
Admiral Group: Deutsche Bank takes target price from 1140p to 1300p retaining a hold recommendation. African Barrick Gold: Deutsche Bank ups target price from 173p to 180p staying with its hold recommendation. Albemarle & Bond: Canaccord Genuity reduces target price from 280p to 146p and downgrade
Read moreMonday broker round-up UPDATE
8th Apr 2013 07:21
Aberdeen Asset Management: Jefferies takes target price from 400p to 420p maintaining a hold recommendation. Admiral Group: Credit Suisse increases target price from 1320p to 1351p keeping a neutral rating. Antofagasta: Investec moves target price from 958p to 934p keeping a sell recommendation.
Read moreTuesday broker round-up UPDATE
19th Mar 2013 07:21
Admiral Group: Canaccord Genuity raises target price from 1050p to 1215p, but reiterates its sell recommendation. BAE Systems: Investec moves target price from 325p to 375p retaining a hold recommendation. Balfour Beatty: Numis lowers target price from 330p to 300p and downgrades to add. BHP Bill
Read moreTuesday broker round-up UPDATE
12th Mar 2013 07:19
Abcam:Investec shifts target price from 484p to 487p and keeps a buy recommendation. Admiral Group: UBS ups target price from 1200p to 1275p and reiterates a neutral rating. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite: Numis reduce
Read moreMonday broker round-up UPDATE
11th Mar 2013 07:23
Admiral Group: Berenberg ups target price from 1000p to 1060p, but still recommends selling. Amlin: Westhouse Securities raises target price from 440p to 455p, but downgrades from add to neutral. Anite Group: Invetsec downgrades from buy to hold with a target price of 157p. Aviva: Citigroup reduc
Read moreAdmiral Group Chairman trades in 100,000 shares
7th Mar 2013 15:42
Alastair Lyons, the long-standing Chairman of Admiral Group, the non-life insurance giant, reduced his stake by 100,000 shares in the wake of a strong set of full year results. In a sale made on behalf of his wife, Lyons disposed of the shares at 1,314p each, shrinking his holding to 392,152 share
Read moreThursday broker round-up UPDATE
7th Mar 2013 07:25
Admiral: Nomura raises target price from 1350p to 1493p keeping a buy recommendation. African Barrick Gold: Nomura cuts target price from 435p to 200p and downgrades from neutral to reduce. Aggreko: Investec increases target price from 1750p to 1940p upgrading from hold to buy. Anglo American: No
Read moreLondon close: Stocks pare gains ahead of policy decisions
6th Mar 2013 16:51
After a solid rise early on, the FTSE 100 had trimmed gains by the close of trade on Wednesday as investors took profits after stocks hit fresh multi-year highs the day before. Markets across Europe finished mixed this afternoon, slipping from the best levels of the day "as caution once again tempe
Read moreFTSE 100 movers: Vodafone tops the leader board
6th Mar 2013 15:40
Vodafone surged after Bloomberg last night reported that part-owner Verizon Communications is looking to resolve its relationship with the UK telecoms group. Richard Curr, the Head of Dealing at Prime Markets said this morning that if the stake is sold off, "it will provide the group with the fire
Read moreLondon midday: Stocks hold on to recent gains
6th Mar 2013 11:56
Well-received results from a number of heavyweight stocks and M&A speculation surrounding Vodafone pushed the FTSE 100 firmly into positive territory on Wednesday morning, pushing the index to fresh multi-year highs. The Footsie finished yesterday's session at 6,432, a level not seen since late 200
Read moreBroker tips: Tesco, Admiral, Ladbrokes
6th Mar 2013 11:54
Shares in supermarket giant Tesco were making gains on Wednesday after Credit Suisse raised its recommendation for the stock from 'neutral' to 'outperform' and hiked its target price from 355p to 430p. In a research report, the broker said: "We think growth/capital discipline can co-exist and the s
Read moreBroker snap: Admiral a 'sell' despite 2012 beat, says Investec
6th Mar 2013 11:30
Several of Admiral's headline numbers came in ahead of forecasts for 2012, but Investec has kept its 'sell' rating and 582p target price for the stock. The broker said that the most "eye-catching" number in the results was the 20% hike in the dividend to 90.6p per share, up from 75.6p previously.
Read more