Broker Recommendations
Jefferies upgrades BP to 'buy', spies possible dividend increase
Analysts at Jefferies upgraded their recommendation for shares of BP from 'hold' to buy', telling clients that the firm's gearing had likely already peaked "in the near term" and that a dividend hike was possible in the third or fourth quarter of 2019.
Berenberg ups target price on Howden Joinery, reiterates 'hold'
Analysts at Berenberg upped their target price on kitchen outfitter Howden Joinery from 490p to 520p on Wednesday following the firm's "good" first-half results published during the preceding week.
Canaccord lowers target price on 'speculative buy' Tullow Oil
Analysts at Canaccord Genuity lowered their target price on exploration and production firm Tullow Oil from 275p to 260p on Wednesday, stating the group's first-half results highlighted the company's need to "unstick" its East African projects and find a new area of growth.
Canaccord ups target price on 'sell' rated Hiscox
Analysts at Canaccord Genuity kept their 'sell' rating on insurance provider Hiscox on Tuesday but upped their target price on the group from 1,580p to 1,600p after the firm's interim pre-tax profits came in slightly ahead of consensus.
Morgan Stanley stays at 'overweight' on BP
Analysts at Morgan Stanley reiterated their 'overweight' recommendation for shares of BP on Tuesday, pointing to its sustained organic free cash flow generation, likely fall in gearing going forwards, scheduled divestments most of which still lay ahead and "significant" remaining leeway for share buybacks in the second half of 2019.
Berenberg lowers Cobham to 'hold' as shareholders question Advent's bid
Analysts at Berenberg lowered aerospace and defence manufacturer Cobham to 'hold' on Monday after its shares began trading 1. 7% above a cash offer made by Advent.
Morgan Stanley hikes target price on Aveva despite "high" valuation
Analysts at Morgan Stanley hiked their target for shares of Aveva on Monday, from 3,150. 0p tp 3,925. 0p, highlighting the software maker's "very strong" operational execution in 2019 and the shift in investor perception since the start of 2018 following the acquisition of SES.
Canaccord ups Just Eat to 'buy' following Takeaway.com agreement
Analysts at Canaccord Genuity upgraded Just Eat to 'buy' on Monday following an announcement that the group and Takeaway. com had reached an agreement in principle for an all-share merger.
Berenberg lowers target price on Victrex following 'cautious' Q3 update
Berenberg lowered its target price on speciality chemicals outfit Victrex from 2,250p to 2,200p on Friday, stating the group's "cautious" third-quarter sales update brought it "one step closer" to the end of the downgrade cycle, but adding that it was "not there yet".
Canaccord raises target price on Howden Joinery following 'solid' results
Analysts at Canaccord Genuity raised their target price on Howden Joinery to 525p from 515p on Friday after the group delivered a "solid set of results" a day earlier, with turnover and gross profit as expected and lower than anticipated operating costs boosting earnings.
RBC reiterates 'top pick' rating on Drax
Analysts at RBC Capital Markets reiterated their 'top pick' rating on British utilities firm Drax on Thursday, after the group's first-half results a day earlier reiterated 2019 underlying earnings guidance and committed to dividend growth of 12. 5%.
Berenberg lowers Informa to 'hold', raises target price
Analysts at Berenberg downgraded events and publishing company Informa to 'hold' from 'buy' on Thursday, pointing to strong movements in the group's share price, on its recent results and over the last few weeks in general.
Wednesday broker round-up
Petra Diamonds: Berenberg downgrades to sell with a target price of 8p.
Liberum ups target price on Oakley Capital after 'strong' H1
Analysts at Liberum upped their target price on private equity firm Oakley Capital on Wednesday, stating the group's trading update had confirmed its "strong performance".
Jefferies says HSBC needs to find 'a new narrative', downgrades to 'hold'
Analysts at Jefferies downgraded HSBC to 'hold' on Wednesday, stating the bank needs to find "a new narrative" as past rate hikes had not transmitted through to margin improvement.