Thursday broker round-up
2nd Aug 2012 10:00
Aggreko: Investec keeps buy rating and 2,520p target. Antofagasta: UBS lifts tagged from 850p to 870p, sell rating unchanged. BAE Systems: Investec maintains hold rating and 290p target. Drax: AlphaValue downgrades to reduce. ENRC: UBS cuts tagged from 640p to 615p, buy rating maintained. Filtr
Read moreBroker tips: Weir, Drax, HSBC
1st Aug 2012 13:22
Analysts at Credit Suisse have today raised their target price on Weir to 1850p from 1750p before, while keeping their overweight rating unchanged. That for three reasons: Firstly, the company´s estimated 2013 earnings per share (EPS) forecasts have declined 17% year-to-date better reflecting pres
Read moreNomura retains neutral stance on Drax on margin uncertainty
1st Aug 2012 12:45
Analysts at Nomura have today issued positive comments on the guidance offered yesterday by Drax Group; in particular, as regards its biomass conversion details. In this regard, they explain how Drax stated confidently that it believes it can convert 3 of its 6 units to 100% biomass profitably usin
Read moreTuesday tips round-up: Drax, Petra Diamonds
1st Aug 2012 06:58
Directors of Drax say that all the technical issues involved in converting half its capacity to burn biomass such as waste wood and woodchip have been resolved and the process can go ahead, now that the Government has settled the level of subsidy that the business can expect. Some in the market plai
Read moreDrax to go green
31st Jul 2012 08:28
Drax, which runs a coal-fired power station in North Yorkshire, said it was set to transform itself into a predominantly biomass-fuelled power generator. The firm said the decision was prompted by technical progress and the level of subsidy the Government was willing to offer to help with the conve
Read moreThursday broker round-up
26th Jul 2012 10:41
ARM: UBS ups target from 630p to 645p, buy rating kept. Bodycote: Investec cuts target from 410p to 355p, buy rating kept. BSkyB:Jefferies keeps hold rating and 700p target; Investec keeps hold rating and 680p target. Capita: Jefferies ups target from 750p to 795p, buy rating kept. Capital & Cou
Read moreLondon close: US data halts rally late on
25th Jul 2012 16:25
- Gains pared after US housing data - Markets shrug off UK GDP, rise on Nowotny comments - ARM surges after Q2 results; Tullow disappoints in H1 Markets seemed to shrug off disappointing UK economic growth data this morning as they warmed to comments from a European Central Bank (ECB) policy-maker;
Read moreSector movers: ARM lifts techs; Drax weighs on electricity stocks
25th Jul 2012 16:11
The technology hardware and equipment sector was the best performing category on Wednesday after some well-received results from chip designer ARM Holdings. Sales in the three months to the end of June came in at £135.5m and earnings per share were 3.6p, ahead of Peel Hunt's forecasts of £130m and
Read moreFTSE 250 movers: Petropavlovsk rises after maintaining production targets
25th Jul 2012 16:06
Russian gold miner Petropavlovsk surged after maintaining its production targets for the full year and reported progress in its exploration work. Attributable production across its five mines for the second quarter was 158,300 ounces, a 10 per cent rise on the same period of 2011. Precision tool m
Read moreLondon midday: Footsie rallies despite poor UK GDP
25th Jul 2012 11:45
- UK deeper in recession - ARM jumps after beating expectations - Footsie bulls into the blue The Footsie pulled into positive territory by Wednesday lunchtime in spite of some miserable economic growth data in the UK. UK gross domestic product (GDP) figures released by the Office for National Sta
Read moreBroker tips: RBS, ARM, Drax
25th Jul 2012 11:41
Nomura has maintained its 'reduce' rating for UK lender Royal Bank of Scotland (RBS) saying that uncertainties surrounding the business still remain. "We remain negative on RBS (and Lloyds) given the uncertainties of restructuring in a deleveraging environment, the need to build capital to meet new
Read moreBroker snap: Investec cuts target for Drax after biomass review
25th Jul 2012 11:23
Investec has reduced its target price for coal-fired power station group Drax from 498p to 425p following the Department of Energy and Climate Change's (DECC's) final biomass banding. The DECC announced today that it has decided to create support levels for electricity generated from sustainable bi
Read moreWednesday broker round-up
25th Jul 2012 10:13
3i Group: Investec initiates with buy rating and 236p target. APR Energy: UBS cuts target from 690p to 590p, sell rating unchanged. British American Tobacco: Jefferies keeps buy rating and 3,730p target. British Land: Jefferies keeps buy rating and 552p target. BT Group: Jefferies maintains buy
Read moreDrax shares plunge on government plans
25th Jul 2012 10:12
Shares in Drax, which converts coal and biomass to energy, plunged 22 per cent on Wednesday after the government announced that it has decided to create support levels for electricity generated from sustainable biomass at existing fossil fuelled power stations on an individual generating unit by uni
Read moreLondon close: Time to cut the Gordian knot?
20th Jul 2012 17:07
- Spanish bond yields soar - Sicily´s non-collected receivables rise to EUR 15.7bn - Valencia asks Madrid for help - Resolution leads the Footsie lower Equity markets across Europe tanked on Friday afternoon, presumably on the back of concerns over Spain's financial health, with capital markets in
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