Canaccord reiterates 'sell' recommendation on Croda
7th Nov 2014 10:27
Specialty chemicals manufacturer Croda has multiple positive features, yet even after the recent share-price underperformance those are more than fully reflected in the share price, Canadian broker Canaccord Genuity said in a research report sent to clients. Additionally, it expects the firm's futur
Read moreCroda's quarterly profits hurt by currency, but underlying trends improve
7th Nov 2014 08:10
Speciality chemicals company Croda reported a drop in quarterly profits due to currency headwinds, but shares rose strongly after underlying trends improved. Pre-tax declined to £55.1m in the three months from 1 July, from £58.7m a year earlier, according to a trading update on Friday. Operating pr
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read moreNational Express finance chief quits to join Croda International
10th Oct 2014 07:15
Bus and train operator National Express announced that its finance chief was quitting to join speciality chemicals group Croda International. National Express said Jez Maiden, its group finance director since 2008, had resigned to take up the equivalent role at Croda early in the New Year. The grou
Read moreCredit Suisse notes weak demand for chemicals, Johnson Matthey falls
8th Oct 2014 09:29
Shares in UK-listed Johnson Matthey, Croda International and Alent were weighed down on Wednesday by comments by Credit Suisse, which slashed its estimates across the European chemicals sector on the back of poor demand. Ahead of a wave of third-quarter results from the sector, the bank said it has
Read moreThursday broker round-up UPDATE
24th Jul 2014 08:59
Afren: JP Morgan shifts target price from 180p to 188p upgrading from underweight to overweight. Anglo American: Jefferies raises target price from 1550p to 1700p and reiterates a hold recommendation. Antofagasta: Jefferies increases target price from 825p to 1000p upgrading from hold to buy. ARM
Read moreWednesday broker round-up UPDATE
23rd Jul 2014 09:01
Abcam: Canaccord Genuity ups target price from 375p to 400p and upgrades from hold to buy. ARM Holdings: Deutsche Bank cuts target price from 975p to 950p and maintains a hold recommendation. Credit Suisse lowers target price from 1125p to 1100p and leaves its outperform rating unaltered. Beazley:
Read moreFTSE 250 movers: IG Group rises on increased divi payment
22nd Jul 2014 15:59
IG Group leapt following what broker Numis Securities termed a "substantial" increase in its dividend payment, up 28% to 22.4p. The financial spread betting firm reported a 2.4% rise in full-year trading revenue to £370.4m. Numis kept its 'add' rating on the stock with a target price of 665p. Secu
Read moreCroda International meets revised expectations for H1
22nd Jul 2014 08:36
First half profit came in as expected at chemicals company Croda International, having fallen 6% to £125.1m year-on-year in a tough trading environment. The figure, which compared to £133.1m a year earlier, reflected a 4.5% reduction in half year revenue from £562.7m to £537.4m, which were hit in
Read moreFriday broker round-up UPDATE
18th Jul 2014 07:55
Barclays: Credit Suisse cuts target price from 275p to 235p retaining a neutral rating. Barratt Developments: Liberum Capital reduces target price from 468p to 387p and downgrades to hold. Bellway: Liberum Capital reduces target price from 1900p to 1764p, while leaving its buy recommendation uncha
Read moreThursday broker round-up UPDATE
17th Jul 2014 11:07
Antofagasta: Canaccord Genuity cuts target price from 870p to 835p and maintains a hold recommendation. African Minerals: Canaccord Genuity reduces target price from 230p to 170p and keeps a buy recommendation. Ashmore Group: Goldman Sachs downgrades to neutral with a target price of 430p. Barcla
Read moreUBS downgrades Croda, downplays M&A hopes
10th Jul 2014 13:18
UBS has downgraded chemicals group Croda from 'neutral' to 'sell', saying that the stock's premium valuation to the sector is "unwarranted". The bank explained that the shares have performed resiliently despite the company warning on a loss of pricing power and increasing competition. It said tha
Read moreBroker tips: Burberry, StanChart, Halfords, Croda
10th Jul 2014 12:54
Luxury brand Burberry's first-quarter update showed signs of "blowing away some cobwebs", according to Hargreaves Lansdown Stockbrokers. "Burberry provides premium products, has a premium valuation, but has yet to attain a premium rating - however, updates such as this will continue to exert positi
Read moreSector movers: Chemical stocks hit by DuPont profit warning
27th Jun 2014 14:41
The selling pressure on the UK chemical sector continued on Friday on negative readacross from a profit warning by US giant DuPont, one of the largest chemical companies in the world. The UK chemical sector was down around 0.6% this afternoon and has now fallen 10% over the past month. DuPont decl
Read moreFTSE 250 movers: Imagination Technologies jumps after beating forecasts
24th Jun 2014 15:22
Imagination Technologies rose strongly after its annual figures managed to beat analysts' forecasts despite a fall in profits. The company, which makes multimedia, communications and general purpose processors, also impressed the market on Tuesday by saying the demand for its Ensigma communications
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