Broker Recommendations
Broker tips: Inchcape, Whitbread, Rightmove
Jefferies initiated coverage on shares of car retailer Inchcape at 'buy' with an 845p price target on Tuesday, arguing that the "undervalued" distributor could drive upgrades by applying material surplus cash flow to M&A or share buybacks.
Broker tips: AstraZeneca, WPP, Aviva, IAG
Analysts at Deutsche Bank reiterated their 'buy' rating and 6,900p target price on British-Swedish pharmaceutical outfit AstraZeneca on Monday.
Broker tips: Stagecoach, Pearson
Bus and rail operator Stagecoach got a boost on Friday as Citi upped its stance on the shares to 'buy' from 'neutral' as it argued there is too much negative sentiment priced in.
Broker tips: Saga, Tullow Oil
Peel Hunt slashed its price target on shares of over-50s specialist Saga to 110p from 180p on Thursday as it cuts its earnings per share estimates to account for pricing cuts and the company's investment in growing the customer base.
Broker tips: Anglo American, Amigo Holdings, Tullow Oil
JPMorgan Cazenove downgraded its stance on Anglo American to 'neutral' on Wednesday, exiting its three-year conviction 'overweight' on the stock as it highlighted three reasons for the move and recommended a tactical short of Anglo versus longing Glencore into first-half results in July/August.
Broker tips: Travis Perkins, Man Group, Rolls-Royce, Close Brothers, DWF Group
Shares in builders' merchant Travis Perkins got a boost on Tuesday as Bank of America Merrill Lynch double-upgraded it to 'buy' from 'underperform' and hiked its price target to 1,700p from 1,000p, pointing to upside from an improving volume backdrop, asset disposals and a new chief executive.
Broker tips: Countryside Properties, JD Sports
JPMorgan Cazenove upped its stance on Countryside Properties to 'neutral' from 'underweight' on Thursday following the stock's year-to-date underperformance and a reassuring update on the earnings outlook a day earlier.
Broker tips: JD Sports, BHP
Analysts at Berenberg upped their target price on retailer JD Sports on Wednesday, noting that several near-term tailwinds had helped the group pick up the pace from a jog to a sprint.
Broker tips: BP, LondonMetric, InterContinental Hotels
RBC Capital Markets downgraded its recommendation on shares of oil giant BP to 'outperform' from 'top pick' on Tuesday following a recent strong performance on an absolute basis and versus the sector.
Broker tips: Centrica, CYBG, Compass
Analysts at JPMorgan downgraded British energy and services firm Centrica to 'neutral' on Monday, noting that price regulation in the UK now looked certain to adversely impact competition, leading to compressed market pricing and lower churn.
Broker tips: Plus500, Micro Focus
Berenberg downgraded its stance on shares of online trading platform Plus500 to 'hold' from 'buy' on Friday and slashed the price target to 770p from 1,800p after it posted a big drop in first-quarter revenues amid "extremely subdued" financial markets.
Broker tips: Dixons Carphone, IWG, Ocado, Glencore, Kaz Minerals
Dixons Carphone rallied on Thursday as Barclays initiated coverage of the stock at ‘overweight’ with a 175p price target, arguing that it’s a "potentially attractive turnaround story".
Broker tips: Glencore, Just Eat
RBC Capital Markets downgraded its stance on Glencore to 'sector perform' from 'outperform' on Wednesday, cutting the price target to 330p from 350p following a jump in the share price year-to-date.
Broker tips: Hays, National Express, Go-Ahead
Morgan Stanley downgraded its rating on the shares of recruiter Hays to 'equalweight' from 'overweight' on Tuesday as it highlighted a lack of near-term catalysts.
Broker tips: Saga, Aston Martin, Moneysupermarket
Analysts at UBS downgraded over-50s focussed outfit Saga to 'neutral' from their previous 'buy' stance on Monday, following the group's second profit warning in as many years.
Broker tips: Purplebricks, Hammerson, Stagecoach
Purplebricks was under the cosh on Friday after Berenberg double-downgraded the stock and took an axe to its price target following its profit warning in February.
Broker tips: Stagecoach, Grainger, UDG Healthcare
Analysts at Liberum downgraded transport operator Stagecoach to 'hold' from its previous 'buy' rating on Thursday, noting that it had "limited enthusiasm" for better trading in UK rail "at the best of times".
Broker tips: Tesco, Burberry, Just Group
Tesco shares outperformed on Wednesday as Goldman Sachs sang the grocer’s praises following the first quarter in a year where its sales have outshone all its Big Four rivals.
Broker tips: EasyJet, Countryside
Berenberg has upgraded its rating on easyJet, just a day after the budget carrier warned that the uncertainty surrounding Brexit and the economy was hurting demand.
Broker tips: Anglo American, Royal Mail, Sabre Insurance, ITV, WPP
Jefferies has reiterated its ‘buy’ rating on Anglo American, arguing the near-term risks are being overplayed and have left the blue-chip miner looking increasing undervalued.