Broker tips: BAE, Next, WPP
13th Sep 2012 11:14
Investec has downgraded its rating for defence giant BAE Systems from 'hold' to 'sell' after yesterday's revelation that the group is in discussions with EADS about a possible merger. The broker has raised its target price from 290p to 350p, 4% below the yesterday's share price. "This is not quite
Read moreNext takes a pounding - UPDATE
13th Sep 2012 10:56
Next shares lost over six per cent of their value after the company said the trading outlook was tough and second half sales had so far been disappointing. Investors showed the retailer little mercy, despite first half results coming in ahead of some analysts' expectations. The company said revenu
Read moreBroker snap: Next close to all-time high, 'hold' says Seymour Pierce
13th Sep 2012 10:26
Seymour Pierce has reiterated its 'hold' rating for High Street giant Next despite a decent first half, as the company's guidance going into the second half of the year disappointed. The group reported a 10% increase in first-half pre-tax profits to £251m, ahead of Seymour Pierce's forecast of £240
Read moreThursday broker round-up
13th Sep 2012 09:17
Anite: Jefferies keeps buy rating and 160p target. BAE Systems: Investec downgrades from hold to sell, target raised from 350p to 290p; Societe General downgrades to sell; Oriel Securities downgrades to hold, target lifted from 350p to 370p. Bank of Georgia: Seymour Pierce keeps buy rating and 1,6
Read moreLondon open: Markets cautious ahead of FOMC meeting
13th Sep 2012 08:27
- Markets focus on FOMC announcement - Next sinks on gloomy outlook - BAE eases after strong surge With all eyes on a Federal Open Market Committee (FOMC) meeting today, UK stocks started flat on Thursday ahead of a key policy decision in the US. "European headline shares opened tentatively this m
Read moreLondon pre-open: Flat start expected for FTSE
13th Sep 2012 07:21
City sources predict the FTSE 100 will open unchanged from yesterday's close of 5,782. BAE Systems surged before the close of trade on Wednesday after it confirmed rumours that it is in talks with European aerospace giant EADS regarding a 'possible combination'. Small gains were seen in the US
Read moreNext sounds cautious note
13th Sep 2012 07:04
Retailer Next said online growth and opening new stores helped offset a drop in like-for-like sales in the first half. The firm also maintained its outlook for the year despite noting rocky August and September trading. In the first half revenue was up 4.8% to £1.64bn and underlying profit was up
Read moreM and S rises as leveraged buy-out speculation increases
10th Sep 2012 12:40
Shares of the iconic retailer Marks and Spencer are one of the top risers today on the top share index on reports that a buy-out of the firm is in the works. Thus, banks are said to be exploring different possible means to structure a leveraged buy-out of the company, according to a report publish
Read moreThursday broker round-up - UPDATE
6th Sep 2012 09:00
Abcam: Canaccord Genuity keeps hold rating and 370p target. AG Barr: Societe Generale upgrades ot hold, target lifted from 370p to 440p. ASOS: Nomura ups target from 1,660p to 1,700p, neutral rating kept. Barclays: Credit Suisse downgrades to neutral, target cut from 215p to 200p. BG Group: Gold
Read moreBroker snap: UBS upgrades Home Retail to 'buy'
5th Sep 2012 11:16
UBS has added Home Retail to its list of top picks in the UK retail sector, a category which has held up well in recent months. "Since our last sector update in February the sector has performed well vs the local market - despite the weather - with disposable income and intake margins recovering in
Read moreTuesday broker round-up
21st Aug 2012 08:18
African Barrick Gold: Canaccord Genuity cuts target from 440p to 380p, hold rating kept. Amlin: Morgan Stanley keeps overweight and 414p target. Chemring: Citigroup downgrades to neutral, target lifted from 360p to 430p. CRH: Bernstein cuts target from 1,264p to 1,179p. Electrocomponents: Jeffer
Read moreTuesday broker round-up
7th Aug 2012 09:22
AB Foods: Nomura cuts target from 1,400p to 1,380p, buy rating kept. BBA Aviation: Jefferies keeps buy rating and 250p target. Big Yellow: Goldman Sachs upgrades to conviction buy, target lifted from 360p to 390p. Devro: Investec keeps buy rating and 355p target. Diageo: Investec lifts target fr
Read moreBroker snap: Next deserves to trade at a premium, says UBS
2nd Aug 2012 12:49
In spite of the poor weather and higher promotions, UBS says that High Street giant Next has once again 'surprised on the upside' in the second quarter, leading the broker to lift its target price for the stock from 3,500p to 3,750p. Next Brand sales in the second quarter were 7.5% higher year-on-y
Read moreBroker tips: Aggreko, SEGRO, Next
2nd Aug 2012 12:48
Investec has said that a lack of upgrades for consensus forecasts at Aggreko may disappoint, but the broker says that the first-half results from the temporary power and temperature controls group were strong. "Aggreko has had an excellent first half, with a 30% lift in EPS (as expected), and remai
Read moreThursday 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
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