Shore Capital warns of "vulnerabilities" in Ocado's business model
1st Jul 2014 11:29
A swing into black at Ocado wasn't enough to change Shore Capital's negative stance on the stock, saying it sees "vulnerabilities" in the online grocer's business model. Shore accepted that Ocado broadly met estimates with an interim pre-tax profit of £7.5m, compared with a £1m loss previously, tho
Read moreLondon open: Upbeat China data gives markets a boost
1st Jul 2014 08:18
- Chinese manufacturing at six-month high - Global manufacturing PMIs in focus - Ukraine ends ceasefire with rebels techMARK 2,821.23 +0.13% FTSE 100 6,773.37 +0.44% FTSE 250 15,734.94 +0.07% UK equity markets rose strongly on Tuesday morning as upbeat manufacturing data from China gave the heavyw
Read moreLondon pre-open: Chinese PMI to give FTSE lift early on
1st Jul 2014 07:40
Buoyed by a positive set of Chinese manufacturing figures out overnight, London stocks are set to register decent gains this morning. City sources predict the FTSE 100 will open around 17 points above yesterday's close of 6,743.94. Wall Street finished yesterday on a mixed note, matching the pic
Read moreOcado earnings up 79% in first half as Morrisons deal ramps up
1st Jul 2014 07:36
- Revenue up 20.7%, EBITDA up 79% - Moved into the black at PBT line - Encouraging start to Morrisons partnership - Online grocery market growth slower than recent years Online grocer Ocado claimed it outperformed its key online grocery competitors as it delivered a considerable rise in earnings d
Read moreBroker tips: RBS, Johnson Matthey, Ocado
12th Jun 2014 12:41
Investec has cut its rating for Royal Bank of Scotland (RBS) from 'hold' to 'sell', saying it sees downside after a recent run in the share price. "Following RBS' latest +16% six-week 'spike' we believe that the share price (once again) reflects a triumph of hope over reality and should duly correc
Read moreOcado to benefit from changing food retail industry, says JPMorgan
12th Jun 2014 10:46
Online grocery group Ocado has a "unique and disruptive business model" in the UK food retail industry, according to JPMorgan Cazenove which initiated coverage of the stock with an 'overweight' rating and 500p. The US bank said that Ocado is the "best way to play the shift from property to IT as th
Read moreTuesday broker round-up UPDATE
12th Jun 2014 08:50
Afren: Oriel downgrades from buy to hold with a target price of 145p. Aggreko: RBC Capital downgrades to neutral with a target price of 1700p. Betfair Group: Morgan Stanley raises target price from 1150p to 1260p and keeps an overweight rating. BG Group: Nomura downgrades to neutral with a target
Read moreFTSE 250 movers: JD Sports recovers after CEO exit
2nd Jun 2014 14:27
JD Sports Fashion recovered somewhat from last week's losses which came after it announced the exit of Chief Executive Officer Barry Bown. Brownfield land developer St Modwen Properties also rose after it reported that strong momentum has continued with a growing pipeline of development opportunit
Read moreOcado to be "main beneficiary" of UK online grocery growth, says Killik
2nd Jun 2014 11:06
Ocado's stock, having recently dipped below the 400p level, is down significantly from the peak reached earlier in the year and now offers a "very attractive entry point", according to Killik. The broker kept a 'buy' rating for shares of the online grocer, which have dropped nearly 40% since hittin
Read moreFTSE 250 movers: Taylor Wimpey jumps on targets, cash return plans
13th May 2014 14:04
Today's gains were led by Taylor Wimpey as the housebuilder set out ambitious medium-term targets and confirmed a generous new cash return policy. "The UK housing market continues to perform strongly with sales rates and pricing at the upper end of our expectations," the group said at an analyst a
Read moreOcado CFO builds stake after fifth of shareholders oppose remuneration report
8th May 2014 15:45
Duncan Tatton-Brown, the Chief Financial Officer of Ocado Group, has acquired 145,988 pounds-worth of shares in the grocery delivery group. The CFO, who joined the board in September 2012, bought a total of 47,865 shares at 305p each, increasing his stake in the company to 107,865 shares. That c
Read moreSector movers: Sainsbury drags grocers lower amid gloomy Kantar data
7th May 2014 14:55
A mixed reaction to better-than-expected results from J Sainsbury and gloomy industry data pushed grocery stocks lower on Wednesday. Underlying profit before tax at Sainsbury rose 5.3% to £798m in the 52 weeks to March 15th, ahead of the consensus forecast of £782m, on underlying group sales includ
Read moreGuinness Peat Group appoints new director
6th May 2014 13:29
Online supermarket Ocado Group announced Non-Executive Director Ruth Anderson has been appointed as a director at financial services firm Guinness Peat Group. Anderson is currently Chairman of Ocado's remuneration committee and a director at Guinness peat's subsidiary Coats. Prior to her role at th
Read moreBroker tips: Diageo, Ocado, Devro
28th Apr 2014 11:53
Credit Suisse has downgraded its rating for Diageo from 'outperform' to 'neutral', saying that challenges are mounting at the drinks group. The bank has lowered its target price for the stock from 2,200p to 1,950p after cutting its earnings per share estimates for next year by 8% to 101p on the bac
Read moreOcado under pressure from grocery price war, says Shore Capital
28th Apr 2014 10:25
Shore Capital has reiterated its 'sell' recommendation for on-line grocery group Ocado, saying that margins are facing negative pressure from the current price competition amongst UK food retailers. The comments come after recent developments at retail giant Tesco, which said that it intends to inv
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