Thursday broker round-up UPDATE
20th Jun 2013 08:43
Ashtead Group: Jefferies takes target price from 690p to 750p and leaves its buy recommendation unchanged. ASOS: Deutsche Bank increases target price from 3300p to 3800p and reiterates a hold recommendation. Atkins: Liberum Capital takes target price from 1020p to 1100p and maintains a buy recomme
Read moreBroker tips: Banks, Intertek, Direct Line
17th May 2013 11:49
UBS has lifted its rating for the global banking sector from 'underweight' to 'overweight', saying that the operating environment is beginning to improve. "Post our global financials conference, our global equity strategy team has upgraded global financials [...] on the basis that the global econom
Read moreBroker snap: Bank of America upgrades Direct Line to 'buy'
17th May 2013 11:25
Bank of America Merrill Lynch (BofA) has raised its rating for Direct Line Insurance Group (DLG) from 'neutral' to 'buy', saying it is now its most preferred stock in the property and casualty (P&C) insurance sub-sector. DLG is now the most preferred stock, at 1.2 times estimated 2013 book value wh
Read moreTuesday broker round-up UPDATE
7th May 2013 07:18
Admiral Group: JP Morgan reduces target price from 1246p to 1108p downgrading to underweight. Afren: Deutsche Bank lowers target price from 165p to 150p, while leaving its buy recommendation unchanged. Investec ups target price from 138p to 160p and upgrades from hold to buy. Betfair Group: Numis
Read moreSunday tips round-up: BP, Direct Line, Tyman
5th May 2013 16:00
BP's first quarter results beat analysts' expectations by 35 per cent driven by strong trading, lower costs and production of higher-margin barrels. Production will be a major driver of future growth, according to The Sunday Telegraph's Questor. Total oil production is forecast to rise more strongly
Read moreBroker tips: RBS, Imperial, Direct Line
3rd May 2013 11:47
Shares in Royal Bank of Scotland (RBS) were under heavy selling pressure on Friday as the bank's first-quarter results are likely to prompt earnings downgrades to consensus estimates, according to Nomura which kept its 'reduce' rating and 300p target price for the stock. Nomura said: "On first look
Read moreBroker snap: Direct Line a 'buy' but market becoming challenging, says Investec
3rd May 2013 11:18
Investec has kept its 'buy' rating and 237p target price for insurance group Direct Line despite the company's first-quarter update disappointing the market on Friday. "The attraction of the business for us remains one of a company in recovery with plenty of flexibility," said analyst Kevin Ryan.
Read moreDirect Line reports continued momentum in pricing during Q1
3rd May 2013 07:55
Insurance group Direct Line has reported continued momentum in pricing and claims initiatives during the first quarter of 2013. Operating profit from ongoing operations in the period totalled £107.5m, a jump of 32.9% on the same period in 2012 when £80.9m was made. The gross written premium for on
Read moreLondon midday: FTSE 100 pulls back from five-year highs
13th Mar 2013 11:33
Stocks pulled back from five-year highs on Wednesday morning as traders took profits after industrial production data from the Eurozone disappointed. So far this year, the FTSE 100 index has gained nearly 10% and was yesterday trading near levels not seen since late 2007. Weighing on markets this
Read moreLondon open: Ex-div stocks weigh on FTSE 100 early on
13th Mar 2013 08:33
Traders chose to take profits on Wednesday morning, taking advantage of the strong gains seen in previous sessions, with the FTSE 100 pulling back sharply from five-year highs. So far this year, the index has gained nearly 10% and is trading near levels not seen since late 2007. According to Reute
Read moreFriday tips round-up: Capital&Counties, Direct Line, Betfair
1st Mar 2013 07:01
Covent Garden market operator Capital&Counties had an excellent year in 2012 as it successfully attracted more up-market retail outlets to the premises of that development. Hence the 7.2 increase in Covent Garden´s value to 540m pounds and 15 per cent jump in the value of the property portfolio, to
Read moreDirect Line beats profits forecasts with maiden results
28th Feb 2013 09:27
Direct Line Group, the insurance company which floated in London back in October, managed to beat consensus expectations with its maiden set of full-year results, causing shares to edge higher on Thursday. The insurer, spun out of UK lender Royal Bank of Scotland (RBS) last year, proposed a final d
Read moreBroker tips: Insurers, ARM, Smith & Nephew
5th Feb 2013 11:35
Ahead of earnings season for insurance stocks, Nomura has reviewed its coverage on the non-life sub-sector, highlighting Admiral as its top pick whilst upgrading its rating for Direct Line and downgrading RSA. In a research report on Tuesday, Nomura said: "We are not expecting any major surprises,
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