Broker tips: Easyjet, Serco, Oil stocks
21st Nov 2014 12:26
Broker Liberum has lifted its target price for budget airline Easyjet from 1,650p to 1,725p and repeated its 'buy' recommendation, hailing the company's effort to adapt to an "inflationary world". Analyst Gerald Khoo said while non-fuel unit cost inflation is set to rise, Easyjet's so-called 'lean'
Read moreCredit Suisse downgrades Serco to 'underperform', slashes target price
21st Nov 2014 11:16
Credit Suisse has lowered its rating for UK outsourcing group Serco from 'neutral' to 'underperform' and more than halved its target price for the stock, saying that the shares are "too expensive". The downgrade follows Serco's unscheduled strategic update and profit warning last week, as it propose
Read moreSerco's chairman Lyons steps down amid profit warning
17th Nov 2014 08:25
Serco's chairman Alastair Lyons has resigned from the troubled British outsourcing company. Lyons, who has been chairman since 2010, said while his colleagues asked him to stay it was his intention to step down once a new strategy and direction for the business were in place. "I am, therefore, taki
Read moreWednesday broker round-up UPDATE
12th Nov 2014 09:07
Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
Read moreTuesday broker round-up UPDATE
11th Nov 2014 09:55
AdEPT Telecom: WH Ireland moves target price from 170p to 185p, keeping its buy recommendation. Northland moves target price from 165p to 175p and maintains a buy recommendation. Betfair: JP Morgan raises target price from 1175p to 1350p and upgrades from neutral to overweight. BHP Billiton: JP Mor
Read moreTuesday tips round-up: Serco, Hiscox
11th Nov 2014 07:31
Take a step back to keep forging ahead, that was yesterday´s message from Serco´s chief, Rupert Soames, as he announced a 1.5bn pound write-off related to a review of goodwill and mispriced contracts. Understandably, given that it wiped 40% off of next year´s consensus forecast for earnings, the sha
Read moreLondon close: FTSE ends higher after busy day for company news
10th Nov 2014 17:06
UK stocks ended the session on a high, helped by gains across the Pond and hopes of stimulus from China following the weekend's data. The FTSE 100 climbed 44.01 points to end the day at 6,611.25. "In London, the equity market was drawn to the psychological 6,600 mark as trading volumes are as thin
Read moreFTSE 250 movers: Serco plunges after issuing profit warning
10th Nov 2014 16:03
Under-pressure business-to-government outsourcing group Serco saw shares sink as the company delivered a profit warning to investors and said it is planning a rights issue after writing down the value of its business by £1.5bn. Meanwhile, oil explorer Cairn Energy announced a "significant" oil find
Read moreBroker tips: Serco, Asos, Genel Energy, Aveva
10th Nov 2014 12:45
Analysts showed their disappointment with a poorly-received statement from Serco on Monday, as the outsourcing company announced a profit warning, £1.5bn of write-downs, and a proposed a rights issue. Oriel Securities analysts said the update "provides some colour on the future shape of the group".
Read moreLondon midday: Mining stocks push FTSE 100 to five-week high, Serco drops
10th Nov 2014 11:27
UK stocks started the new trading week on the front foot with mining shares resilient despite some mixed economic data from China overnight. However, Serco was the standout mover with the FTSE 250 outsourcing stock losing as much as a third of its value after a profit warning and proposed rights iss
Read moreUncertainties remain 'aplenty' at outsourcer Serco, say analysts
10th Nov 2014 09:57
Analysts showed their disappointment with a poorly-received statement from Serco on Monday, as the outsourcing company announced a profit warning, £1.5bn of write-downs, and a proposed a rights issue. Oriel Securities analysts said the update "provides some colour on the future shape of the group".
Read moreLondon open: Miners lift UK stocks higher, but Serco plummets
10th Nov 2014 08:33
UK stocks advanced on Monday morning, led by decent gains in the heavyweight mining sector despite some mixed trade figures from China. The FTSE 100 was up 0.4% at 6,594 in early deals after closing Friday's session at 6,567.24, its highest finish since 6 October. However, gains on the FTSE 250 were
Read moreSerco planning rights issue after £1.5bn write-down and profit warning - UPDATE
10th Nov 2014 07:54
Under-pressure outsourcing group Serco has delivered a profit warning to investors and said it is planning a rights issue after writing down the value of its business by £1.5bn. The company also announced it would also exit all it private-sector business process outsourcing (BPO) activities and focu
Read moreInterserve secures UK probation contracts
29th Oct 2014 15:24
Support and construction company Interserve is the only UK-based company to have been named among the preferred bidders for the 21 rehabilitation services contracts by the Ministry of Justice (MoJ). The group was named as the preferred bidder for five of the contracts, covering Humberside, Lincolshi
Read moreLiberum slashes target on Serco but sees turn-around potential
23rd Sep 2014 13:24
Analysts at broker Liberum have slashed their price target on outsourcing giant Serco due to the multiple issues which the company is facing. Nevertheless, they does see room for improvement. Foremost, consensus sales are under pressure from attrition and a lack of wins while margins are suffering
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