Broker snap: Rally in water stocks to continue, says CS
27th May 2009 12:08
Brokers are queuing up to reappraise the water utility companies ahead of the sector's results season, which starts this week. After Merrill Lynch weighed in yesterday with downgrades for Pennon and Northumbrian Water, Credit Suisse has dealt another blow to Pennon, chopping its price target from 6
Read moreBroker tips: Cable & Wireless, water companies, Holidaybreak
26th May 2009 13:13
Telecommunications group Cable & Wireless has been stuck in reverse since its results last Thursday, which were below many analysts' expectations. Credit Suisse has responded to the disappointing figures by downgrading its earnings forecasts 'to reflect a more cautious outlook and recent currency m
Read moreBroker snap: Water companies sunk by downgrade
26th May 2009 12:53
Water companies are firm favourites of income investors but Merrill Lynch warns that in a potentially deflationary environment, shareholders should not be expecting much in terms of dividend growth. Merrill Lynch has cut its ratings on Pennon and Northumbrian Water from 'neutral' to 'underperform'
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