Broker snap: UBS downgrades Glaxo to 'neutral'
28th Aug 2012 09:52
UBS has lowered its recommendation for pharmaceuticals giant GlaxoSmithKline from 'buy' to 'neutral', saying that there's limited potential for further upside. Since January 1st 2011, Glaxo has outperformed the FTSE by 25% and outperformed sector peer AstraZeneca by some 14%. "Due to economic sens
Read moreTuesday broker round-up
28th Aug 2012 08:19
Afren: Credit Suisse downgrades to neutral, target cut from 185p to 170p. BHP Billiton: Morgan Stanley cuts target from 2,280p to 2,180p, overweight rating kept. Bunzl: Seymour Pierce raises target from 1,000p to 1,055p, hold recommendation maintained. Cairn Energy: Credit Suisse cuts target from
Read moreGSK completes study for COPD treatment
24th Aug 2012 15:38
Pharmaceuticals giant GlaxoSmithKline announced on Friday afternoon that it has completed, along with partner Theravance, the phase III programme of a 52-week safety study for its UMEC/VI medicine for the maintenance treatment of chronic obstructive pulmonary disease (COPD). The 6,000-patient study
Read moreSector movers: Marks and Spencer lifts retailers after takeover rumours
24th Aug 2012 15:32
Retailers were on the up on Friday afternoon after Marks and Spencer jumped on rumours that private equity titan CVC Capital Partners is considering a takeover offer for the High Street group. It is thought that CVC is looking at an offer and has approached executives both inside and outside the fi
Read moreWednesday broker round-up
22nd Aug 2012 09:20
888 Holdings: Shore Capital upgrades to buy. Afren: Jefferies raises target from 140p to 155p, buy recommendation maintained. Anglo American: JPMorgan Cazenove downgrades to underweight, target cut from 3,000p to 1,900p. Antofagasta: JPMorgan Cazenove upgrades to overweight, target lifted from 1,
Read moreBroker tips: Petrofac, Glaxo, ENRC
13th Aug 2012 11:11
Petrofac may have announced that it is on track to hit its full-year guidance but Investec has maintained its 'hold' rating and 1,500p target price on the stock, saying that it is 'still worrying about the future'. "Although 1H12 contract wins have just kept the order book on track (only a 4% decli
Read moreBroker snap: Jefferies downgrades Glaxo to 'hold'
13th Aug 2012 10:10
With GlaxoSmithKline's margin expansion put on hold, Jefferies has downgraded its recommendation for the stock from 'buy' to 'hold'. "Whilst we still see double digit CORE EPS growth for GlaxoSmithKline from 2013E-17E, visibility on margin expansion has been obscured by over-exposure to price press
Read moreMonday broker round-up
13th Aug 2012 08:16
AMEC: HSBC cuts target from 1,280p to 1,275p, overweight rating kept. Aviva: Exane BNP Paribas downgrades to neutral. British American Tobacco: Nomura keeps buy rating and 3,390p target. British Land: JPMorgan Cazenove ups target from 560p to 610p, overweight rating kept. BSkyB: Nomura maintains
Read moreBroker snap: Astra's a top pick in pharma sector, says UBS
6th Aug 2012 11:17
UBS has reviewed its coverage for the European pharmaceuticals sector, highlighting that, for that the first time in five to seven years, the 'generics cliff' is coming out of forecasts. Following second-quarter results from pharma majors which provide visibility on full US generics, UBS has reiter
Read moreMonday broker round-up
6th Aug 2012 08:26
AstraZeneca: UBS ups target from 3,500p to 3,600p, buy rating kept. Berkeley: Investec raises target from 1,500p to 1,560p, buy rating kept. Catlin: Nomura reiterates buy rating and 506p target. Centrica: Deutsche Bank downgrades to hold from buy, target cut from 365p to 320p. Falkland Oil and G
Read moreLondon midday: Footsie rebounds strongly after Draghi-fuelled sell-off
3rd Aug 2012 11:39
- RBS leaders risers after first-half figures - Markets await US data - Peripheral yields fall, ECB rumours do the rounds The Footsie was up 1.3 per cent by midday on Friday as strong gains in the financial sector provided a lift to the blue-chip index as it attempted to claw its way back from a he
Read moreLondon open: Stocks rebound after Draghi disappointment
3rd Aug 2012 08:31
- Stocks rebound after Draghi-fuelled sell-off - Chinese data improves - RBS leads banks higher after first-half results The Footsie rose strongly Friday morning, rebounding after a heavy sell-off the day before, with RBS and the banks providing a lift early on. Stocks sank yesterday after a press
Read moreGSK completes takeover of Human Genome
3rd Aug 2012 08:00
Pharmaceuticals giant GlaxoSmithKline has completed its acquisition of Human Genome Sciences (HGS), its long-term biotech partner, having bought all of the 174.4m outstanding shares in the company for 1,425 cents each. The shares, equal to around 87% of the share capital, were purchased for a tota
Read moreGSK gives reticent HGS investors more time
30th Jul 2012 13:50
Pharmaceutical giant GlaxoSmithKline has given investors in takeover target Human Genome Sciences (HGS) more time to tender their shares. GSK said that when its original offer expired at midnight on Friday it had collected 79% of the HGS shares. An additional 4% of shares were tendered subject to
Read moreSunday newspaper round-up: BoE, RBS, Weir
29th Jul 2012 17:57
The British Chambers of Commerce and the Ernst & Young Item Club, the only forecasters to use the Treasury's economic model, have both urged the Bank of England to take bold action to boost growth at Wednesday's meeting of the Monetary Policy Committee [MPC]. The economy has shrunk for three success
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