Broker Recommendations
Liberum cuts target on National Express, still confident on public transport recovery
Analysts at Liberum lowered their target price on shares of National Express in anticipation of a more gradual earnings recovery through to 2023.
Tuesday broker round-up
Rightmove: Berenberg upgrades from 'sell' to 'hold' and lifts target price from 455. 0p to 710. 0p; Credit Suisse stays at 'neutral' and raises target price from 600. 0p to 660. 0p.
Bank of America reiterates 'underperform' on BP
Analysts at Bank of America stood by their 'underperform' recommendation on shares of BP, pointing out to clients that the oil major's cash returns were less well-funded than at buy-rated peers Royal Dutch Shell and Total Energy.
Credit Suisse stays at 'hold' on HSBC, now expects share buybacks
Analysts at Credit Suisse stayed at 'hold' on shares of HSBC, noting the lender's outlook for interest rates and likelihood of share buybacks being announced soon.
Credit Suisse stays 'underweight' on non-financial cyclicals but adds to miners
Analysts at Credit Suisse reiterated their 'underweight' stance for most European non-financial cyclicals on valuation grounds - but not on miners.
Canaccord downgrades Team17 to 'hold' as stock approaches target price
Analysts at Canaccord Genuity lowered their rating on video games developer Team17 from 'buy' to 'hold' on Thursday, stating the group's share price was now approaching its target.
Berenberg stays at 'buy' on Aviva
Analysts at Berenberg took a fresh look at insurance firm Aviva on Friday, stating the firm's capital return was "a compelling reason" to buy.
Deutsche Bank raises target price on Future following Dennis Publishing acquisition
Analysts at Deutsche Bank raised their target price on media firm Future from 3,802. 0p to 4,138. 0p on Tuesday following the group's £292. 0m acquisition of Dennis Publishing.
Canaccord Genuity downgrades NCC Group to 'hold'
Analysts at Canaccord Genuity downgraded IT security firm NCC Group from 'buy' to 'hold' on Tuesday, citing valuation.
Sainsbury's bank sale would make sense, Shore says
A sale of Sainsbury's bank would be a sensible move for the supermarket group as it concentrates on its core retail business, Shore Capital said after a press report that a deal was in the works.
Citi, JPMorgan start coverage of Bridgepoint
JPMorgan Cazenove and Citi both initiated coverage of recently-listed Bridgepoint on Tuesday.
Liberum says Reach at an inflection point, starts at 'buy'
Liberum initiated coverage of newspaper and magazine publisher Reach on Tuesday with a ‘buy’ rating and 475p price target as it said the shares have done well in recent months, but are at the start of the next growth phase.
RBC Capital Markets lowers target price on Hunting
Analysts at RBC Capital Markets decreased their target price on energy services provider Hunting from 300. 0p to 275. 0p on Friday after the group issued lower-than-expected full-year underlying earnings guidance.
Canaccord raises target price on Volex following Irvine acquisition
Analysts at Canaccord Genuity raised their target price on electronic connectors manufacturer Volex from 475. 0p to 500. 0p on Friday following the group's acquisition of Irvine Electronics.
Barclays upgrades Babcock to 'overweight'
Barclays upgraded Babcock to ‘overweight’ from ‘equalweight’ on Friday, lifting the price target to 424p from 315p.
Liberum hikes target price on Victrex
Analysts at Liberum raised their target price on high performance polymers supplier Victrex from 2,300. 0p to 2,800. 0p on Thursday, stating that while a full recovery still appeared to by two years away, a special dividend now seemed "likely" in 2021.
HSBC upgrades Mediclinic to 'buy'
HSBC upgraded private hospital group Mediclinic to ‘buy’ from ‘hold’ on Thursday, hiking the price target to 340p from 280p.
Berenberg slashes target price on Avon Rubber amid 'a year to forget'
Analysts at Berenberg slashed their target price on safety equipment supplier Avon Protection from 2,955. 0p to 1,740. 0p on Thursday after the group cut its full-year guidance by roughly 40%.