Barclays upgraded Premier Inn owner Whitbread to ‘overweight’ from ‘equal-weight’ on Friday, lifting the price target to 3,350.0p from 2,500.0p, arguing that it’s one of the most attractive recovery plays in the sector following this week’s vaccine news. The bank said it now has a greater level of confidence that …
Read More »Broker tips: Royal Mail, Chemring
Royal Mail surged on Wednesday as JPMorgan Cazenove upgraded the stock to ‘overweight’ from ‘neutral’ and lifted the price target to 374.0p from 253.0p, saying it sees a potential strong improvement in trading over the next 18 months, due in part to an improved revenue outlook. “In our view, this …
Read More »London close: Stocks higher, investors take US election uncertainty in their stride
London stocks finished higher with investors seemingly brushing off the as yet inconclusive US election results, although a ‘clean sweep’ of the White House and Congress by Democrats was now off the table. The FTSE 100 rose 1.67% to 5,883.26 and by the end of the session, cyclical areas of …
Read More »Europe close: Stocks take knife-edge US election results in their stride
European shares recovered from early morning drop to trade sharply higher, despite no clear outcome in the US presidential election as of yet and weak industry data across the euro zone suggesting a double dip recession. With the result of the White House vote still hanging in the balance and …
Read More »Royal Mail surges on JPMorgan upgrade to ‘overweight’
Royal Mail surged on Wednesday as JPMorgan Cazenove upgraded the stock to ‘overweight’ from ‘neutral’ and lifted the price target to 374p from 253p, saying it sees a potential strong improvement in trading over the next 18 months, due in part to an improved revenue outlook. “In our view, this …
Read More »Wednesday newspaper round-up: Royal Mail, Poundstretcher, UK airports
Royal Mail postal workers will for the first time collect parcels on the doorstep, in one of the biggest changes to the service as it adapts to the decline in letters and rapid growth in online shopping. From Wednesday customers across the UK will be able to pay a fee …
Read More »US consumer confidence rises in October, University of Michigan says
The American consumer grew a bit more confidence in October, the results of the most closely followed gauge for confidence across the country revealed. A preliminary reading for the University of Michigan‘s consumer confidence index in October improved to a reading of 81.2 after printing at 80.4 in September. Economists …
Read More »Broker tips: Whitbread, JD Sports, Dixons Carphone
Analysts at Berenberg upgraded their rating on hotel operator Whitbread from ‘hold’ to ‘buy’ on Friday, stating the current price of the stock left the group undervalued given its real estate portfolio. Berenberg said that following Whitbread’s recent weakness, it believes that the risk-reward balance on the company had shifted …
Read More »Tekcapital portfolio firm Salarius signs US distribution deal
Intellectual property investment company Tekcapital announced on Wednesday that its portfolio company Salarius has signed a distribution agreement with Gehring-Montgomery, a United States ingredient distributor, in a bid to expand business-to-business sales of ‘MicroSalt’ across the US. The AIM-traded firm described Gehring-Montgomery as a “leading distributor” of food and raw …
Read More »FTSE 250 movers: Energean gushes higher; TUI travels lower
Oil and gas exploration company Energean was the top gainer on the index after securing two new gas sale agreements for its flagship Karish project off Israel. Berenberg said: “This is a clear positive for Energean, which delivers on expectations firmly set at the interim results last week. It is …
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