Monday broker round-up UPDATE
17th Nov 2014 10:32
African Barrick Gold: Investec reduces target price from 262p to 170p and downgrades to sell. Associated British Foods: Liberum initiates with a target price of 3470p and a buy recommendation. Bodycote: Investec lowers target price from 750p to 745p and maintains its buy recommendation. Centamin:
Read moreGrafton disappoints as UK and Irish LFL sales slip during Q3
13th Nov 2014 12:31
Building materials group Grafton disappointed with third-quarter like-for-like sales lower than the first half even though it said demand and total revenue increased in the UK and Ireland. Revenue for the ten months to 31 October increased by 10% to £1.76bn, especially boosted by the housing market
Read moreGrafton expands presence in Brussels
1st Oct 2014 07:05
Building merchant Grafton Group has completed the acquisition of Brussels-based Gedimat-Ginion. The Belgian firm generated revenue of £3.2m in the year ended 30 June. Grafton said the addition expands and complements its coverage of the Brussels market following the acquisition earlier this year of
Read moreGrafton increases South East footprint through bolt-on acquisition
1st Sep 2014 07:49
Builder merchant and DIY group Grafton has bought South East-focused business Direct Builders Merchants for an undisclosed sum. The FTSE 250-listed company, which has operations in the UK, Ireland and Belgium, said the bolt-on purchase "improves the group's coverage of the merchanting market in Ken
Read moreWednesday broker round-up UPDATE
27th Aug 2014 09:57
Antofagasta: Westhouse Securities reduces target price from 885p to 805p and stays with its neutral rating. Bunzl: Deutsche Bank ups target price from 1508p to 1565p leaving its hold recommendation unchanged. Chime Communications: Canaccord Genuity lowers target price from 390p to 385p and maintai
Read moreGrafton interim earnings soar but second half will be slower
27th Aug 2014 07:46
Builders merchant Grafton almost doubled earnings in the first half of the year as the recovery in UK and Ireland became more broadly based, but it expects the second half to slow against strong numbers the year before. Chief executive Gavin Slark reminded that the recovery in its markets was stil
Read moreUK housing "revival" gives Grafton a boost in first half
10th Jul 2014 08:14
Builders merchant and DIY group Grafton said it saw an increase in momentum in the first half, with demand tracking an ongoing economic recovery in the UK and Ireland. Ahead of its interim results due out on August 27th, the company said that the first-half financial performance is expected to show
Read moreRightmove Chairman sells 7m pounds of shares
27th May 2014 15:09
Rightmove's Chairman Scott Forbes has offloaded nearly a half of a holding in the property website group, selling over seven million pounds in shares. Forbes, who has been in his current role since 2005, sold 300,000 shares at an average price of 2,350.81p each, raising a total of £7.05m. Followin
Read moreMonday broker round-up UPDATE
19th May 2014 07:55
Alent: Numis moves target price from 330p to 340p upgrading to add. AVEVA Group: Westhouse Securities initiates with a target price of 2260p and a buy recommendation. Bovis Homes Group: Deutsche Bank shifts target price from 1039p to 1042p and stays with its buy recommendation. Brown (N) Group: J
Read moreGrafton signs new bank facilities for 'additional headroom'
19th May 2014 07:52
Builders merchanting and DIY group Grafton has signed new five-year revolving credit facilities with its banks. The new facilities, which total £460m, run to May 2019. "The refinancing takes advantage of improved lending conditions and will lead to annualised finance charge savings based on curren
Read moreAG Barr Finance Director reduces stake, Aggreko Executive builds his
13th May 2014 15:23
The wife of Alex Short, the Finance Director of AG Barr, sold 15,000 shares in the group, thereby reducing his holding in the soft drinks group to 37,711. The 610.00p-a-share sale had a total trade value of £91,500. Meanwhile, David Taylor-Smith, an Executive Director of power solutions group Agg
Read moreBroker tips: IAG, Serco, Grafton, Tullett Prebon
9th May 2014 12:39
British Airways and Iberia owner IAG is 'clearly making progress', according to Hargreaves Lansdown Stockbrokers which said that reduced losses in the first quarter were better than forecast. Hargreaves said that hopes of a return to a payment of a dividend "are moving onto the agenda". It added: "
Read moreInvestec upgrades Grafton to 'buy', says premium rating justified
9th May 2014 12:14
Investec has upgraded Grafton Group from 'add' to 'buy' after a 'strong start to the year' by the builders merchant and DIY company. "We continue to believe Grafton's premium rating is justified by its superior growth profile relative to peers," said Analyst Tom Holmes. Grafton, which has operatio
Read moreWeak comparatives give Grafton a boost in Q1
9th May 2014 07:35
Builders merchant and DIY group, Grafton, said it has made a strong start to the year with growth helped by weak comparatives in 2013. The company, which has operations in the UK, Ireland and Belgium, said that demand in its markets "has generally improved, supported by evidence of a continuing rec
Read moreTuesday broker round-up UPDATE
8th Apr 2014 09:18
API Group: Numis lowers target price from 90p to 84p, while upgrading from add to buy. Cranswick: Investec increases target price from 1315p to 1390p retaining its buy recommendation. Daisy Group: FinnCap moves target price from 175p to 185p and retains a hold recommendation. DP World: Nomura rai
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