UBS downgrades Serco to 'sell' on earnings uncertainty
9th May 2014 09:29
UBS has cut its recommendation for Serco from 'neutral' to 'sell', saying that the stock's valuation does not reflect the uncertainty surrounding the outsourcing group's earnings. The bank has slashed its target price for the stock by 25% from 400p to 300p. Since Serco's new guidance on April 30th
Read moreFriday broker round-up UPDATE
9th May 2014 08:44
Advanced Medical Solutions: Numis ups target price from 105p to 121p and retains its hold recommendation. Arrow Global: Numis upgrades from add to buy with a target price of 285p. Bank of Georgia: Numis downgrades from buy to hold with a target price of 2708p. Barclays: Citi lowers target price f
Read moreWednesday broker round-up UPDATE
7th May 2014 08:35
Balfour Beatty: Jefferies reduces target price from 403p to 233p downgrading to hold. Deutsche Bank cuts target price from 280p to 250p and leaves its hold recommendation unchanged. Numis reduces target price to 260p and retains an add rating. Barclays: Deutsche Bank lowers target price from 320p t
Read moreNew Serco CEO Soames marks arrival with large share purchase
6th May 2014 15:51
Rupert Soames, who last week took up the role of Chief Executive Officer at embattled Serco Group, has given a show of faith in his own leadership - and taken advantage of the latest dip in its share price - with the purchase of 242,000 shares at 354.30p a share. The £857,406 deal gives a show of f
Read moreTuesday broker round-up UPDATE
6th May 2014 08:44
Antofagasta: RBC Capital upgrades to buy with a target price of 900p. Barclays: Numis downgrades from add to hold with a target price of 280p. BG Group: Goldman Sachs ups target price from 1500p to 1530p and retains a strong buy recommendation. Britvic: Numis raises target price to 684p and keeps
Read moreBroker tips: Lloyds, Weir, BSkyB...
1st May 2014 13:00
Most of Lloyds' key financial metrics continued to 'appreciate measurably' in the first quarter, according to Hargreaves Lansdown Stockbrokers. "Lloyds is often seen as a proxy for the UK economy, and although they are inextricably linked, both are beginning to prosper after a long period of auster
Read moreLondon midday: Lloyds leads UK markets to two-month high
1st May 2014 11:34
- Lloyds, BSkyB, BG Group and Schroders gain - UK manufacturing activity at five-month high - Fed sticks with taper despite weak Q1 growth techMARK 2,774.45 -0.22% FTSE 100 6,797.46 +0.26% FTSE 250 15,812.19 -0.03% Well-received updates from Lloyds, BSkyB, BG Group and Schroders and upbeat UK manu
Read moreWorst may not be over for Serco shareholders, says Cantor Fitzgerald
1st May 2014 09:55
Cantor Fitzgerald has said that the scale of the profit warning by outsourcing group Serco is 'surprising', as it reiterated its 'sell' recommendation for the stock. Serco announced late on Wednesday that it plans to raise £170m from an emergency placing to strengthen its balance sheet. Year-to-da
Read moreLondon pre-open: Modest rise expected following FOMC statement
1st May 2014 07:40
The City is set to edge higher early on, tracking gains in the US last night which came after the much anticipated statement from the Federal Reserve, which held steady on its policy course with a few breezily positive remarks leading to a positive finish Stateside. Sources predict the FTSE 100 wi
Read moreSerco plans 170m pound emergency placing, downgrades EPS 37 per cent - UPDATE
30th Apr 2014 20:43
Embattled government outsourcing group Serco announced late on after London markets closed on Wednesday that it planned to raise around 170m pounds to strengthen its balance sheet. Year-to-date performance has been weaker than expected, with the company forced to warn on full year profits on Monda
Read moreSerco CFO hands in resignation in wake of emergency fundraising
30th Apr 2014 20:33
Serco, the embattled government outsourcing services provider, has received the resignation of its long-standing Chief Financial Officer Andrew Jenner as it announced an emergency fundraising to bolster its balance sheet. Jenner, 44 years old, has been in the role since 2002 and will remain as CFO
Read moreLondon close: FTSE higher on GDP data, reports of Russian pull-back
29th Apr 2014 16:59
- FTSE closes up 69.75 points at 6,769.91 - Q1 GDP rises 0.8 per cent - Tensions ease in Eastern Europe techMARK 2,791.25 +0.74% FTSE 100 6,769.91 +1.04% FTSE 250 15,896.64 +0.44% It was an upbeat finish for UK stocks today, with financial companies leading the way on the back of strong UK gross d
Read moreFTSE 250 movers: Telecity jumps after strong Q1, Serco slides
29th Apr 2014 15:46
Telecity rose to the top spot after posting a strong first-quarter trading update. The Europe-focused data centre provider said that organic currency-neutral revenue growth was 9.4 per cent for the period from January 1st to date, compared with 6.8 per cent in 2013. Broker Numis maintained a 'buy' r
Read moreBroker tips: BP, AstraZeneca, Serco, Telecity
29th Apr 2014 12:48
Investec kept a 'hold' stance on oil major BP, but said that the company's first-quarter trading update showed a 'solid start to the year'. "We do not expect any major changes to either our forecasts or consensus. BP is trading broadly in line with the sector which, given current Russian risk, look
Read moreLondon midday: FTSE at eight-week high on UK data, M&A speculation
29th Apr 2014 11:26
- FTSE 100 at highest since March 6th - UK GDP picks up, economic sentiment rises - Serco plummets after profit warning - Shire gains on potential takeover from Allergan techMARK 2,805.40 +1.25% FTSE 100 6,745.78 +0.68% FTSE 250 15,903.02 +0.49% A decent improvement in UK economic data and continu
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