Wednesday broker round-up - UPDATE
16th Nov 2011 09:44
Michael Page: HSBC upgrades to overweight from neutral. Reckitt Banckiser: Citi reiterates buy. Cairn Energy: Societe Generale initiates at buy. Royal Bank of Scotland: AlphaValue downgraded to add from buy yesterday and lowered the price target to £24.60from £29.80. ARM Holdings: UBS raises t
Read moreFTSE 250 Movers: Oxford Instruments hits the top note
15th Nov 2011 14:07
High-tech tool manufacturer Oxford Instruments was rising high after it said first half pre-tax profit fell to £12.5m from £13.2m the year before but it sees an improved second half. The group, which makes and supplies tools and systems, said revenue surged over 40% in a 'robust' market environment
Read moreDrax profits to be at top end of expectations
15th Nov 2011 09:14
Shares in coal-fired power station operator Drax rose on Tuesday morning after the company said its full year results would be towards the top of market forecasts. The firm said this was based on a range of market forecasts of £292 million to £331 million for earnings before interest, tax depreciat
Read moreSector movers: Engineers fall over Weir
7th Nov 2011 15:52
A spot of old-fashioned Scottish realism seems to be dragging down the share price of Glasgow based engineering giant, Weir Wroup, and with it the industrial engineering sector. As was the case with its August trading update, the numbers looks all right but the company has been talking down its own
Read moreGovernment support proposals lift Drax
20th Oct 2011 12:44
Shares in Drax, the operator of a coal-fired power station in North Yorkshire, roared higher after the government proposed doubling support levels for companies producing energy from biomass. The government has proposed that it will give Drax one Renewables Obligation Certificate (ROC) for every MW
Read moreBroker tips: Legal & General, Drax, Polo Resources
21st Sep 2011 12:22
Following a sector de-rating, Swiss investment bank UBS has cut its target price for FTSE 100 insurance group Legal & General from 114p to 95p. "The sector has de-rated by some 9% in the market turmoil since June. Our 2012E shareholders' equity forecast reduced by 5% at interims. We are therefore r
Read moreBroker snap: Uncertainties surround Drax, says Credit Suisse
21st Sep 2011 12:20
Credit Suisse has cut its target price for power provider Drax from 400p to 350p, highlighting uncertainties surrounding regulation and the economy. The stock has been relatively immune to the summer global sell-off, rising 32% over the year to date on the back of rising clean dark spreads (gross m
Read moreUPDATE: Wednesday broker round-up
21st Sep 2011 08:52
Inmarsat: Citi downgrades to hold from buy. Inmarsat: Morgan Stanley downgrades to underweight from neutral. Imperial Tobbacco: Investec retains buy. Carnival: Credit Suisse confirms neutral rating and 2,357p target. Drax: Credit Suisse cuts target from 400p to 350p, underperform rating maintain
Read moreDrax hails 'excellent' first half performance
2nd Aug 2011 09:03
Coal-fired power station operator, Drax, has announced a 28% jump in first half pre-tax profits. The company said that for the six months to the end of June profits before tax had risen from £132m in 2010 to £169m. It said the results were underpinned by strong hedging and continued good operation
Read moreLondon close: Footsie falls as Greece and US fuel sell-off
2nd Jun 2011 16:55
Despite trading sideways for most of the day after a relatively sharp fall early on, the Footsie took another dive in late afternoon to finish over 1.3% lower. The mood was uneasy on Thursday as a result of sovereign debt fears in Europe and worrying news from the US, amid a host of underwhelming re
Read moreSector movers: Drax powers electricity sector
2nd Jun 2011 16:19
Drax is providing a spark in the electricity sector after a kind word from financial services firm Matrix. The broker upped its target price for coal-fired power station operator Drax from 460p to 550p, saying that now is the time to focus on its biomass potential with UK policy becoming clearer in
Read moreFTSE 250 movers: CSR drops on Nokia concerns
2nd Jun 2011 16:03
CSR, the chipmaking firm, has taken a hit after Numis downgraded the group to 'add', from 'buy', on the back of worrying news from its major customer Nokia this week, which cut its second-quarter outlook. Heading the other way are the retailers, with Sports Direct, Carpetright and Dunelm posting im
Read moreBroker tips: Kingfisher, Drax, Galliford Try
2nd Jun 2011 11:30
Prime Markets has confirmed a 'sell' recommendation and target price of 248p for B&Q owner Kingfisher, saying that the shares have climbed "too far too quickly" over the last couple of months. "Whilst we have got off to a good start, it remains our view that this year is likely to be a tough one fo
Read moreBroker snap: Drax to benefit from biomass potential
2nd Jun 2011 10:40
Matrix has upped its target price for coal-fired power station operator Drax from 460p to 550p, saying that now is the time to focus on its biomass potential with UK policy becoming clearer in the next few months. The Renewables Obligation Certificate (ROC) is a green certificate from Ofgem, placin
Read moreFTSE 250 movers: JD tops the risers
31st May 2011 15:15
Retailers JD Sports Fashion and Supergroup are also in demand. Tate & Lyle, the food ingredients group, has been given a lift by UBS after the broker raised its target price for the stock by 8%, from 550p to 595p. Stockbroker and investment manager Brewin Dolphin is edging higher after announcing
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