LONDON (SHARECAST) - Investec has maintained its 'buy' rating for media and advertising giant WPP but has put its 950p target price under review after a disappointing third-quarter trading update on Thursday.
"3Q IMS is disappointing with slower US/Europe but also Emerging markets. The latter is expected to bounce back but other areas may stay tough, so numbers reduce slightly," said analyst Steve Liechti.
Nevertheless, Liechti said: "Shares likely to be weaker today but international marketing growth story remains, so a buying opportunity could emerge."
Panmure Gordon has raised its target price for consumer products group Reckitt Benckiser after strong growth in Europe and North America (ENA) helped like-for-like (LFL) sales beat forecasts in the third quarter.
"Reckitt only reiterated its full-year outlook, and as such we believe the initial 6% jump in the share price was a slight over-reaction. Nevertheless, we nudge our price target up by 3% from 3540p to 3650p and reiterate our 'hold' recommendation."
Seymour Pierce has raised its target price for online retailer ASOS from 1,900p to 2,350p to reflect the recent share price momentum, but the broker has maintained its 'hold' rating.
Seymour analyst Freddie George said: "The founder of BestSeller, however, who holds 27% of the equity (recently increased by one percentage point), is getting closer to the 30% bidding threshold while we believe the Chinese development plans will be pushed further into the future."
LONDON (SHARECAST) - Investec has maintained its 'buy' rating for media and advertising giant WPP but has put its 950p target price under review after a disappointing third-quarter trading update on Thursday.
