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JPMorgan Cazenove downgraded shares of Cineworld to ‘neutral’ from ‘overweight’ on Monday and slashed the price target to 90p from 300p after the company shut the doors to its cinemas due to the coronavirus outbreak.
Barclays cut its price targets for BT, TalkTalk and Vodafone as the bank reviewed risks to telecoms companies' guidance and dividends from the Covid-19 crisis.
Analysts at Berenberg lowered their target price on software provider Shearwater Group from 500. 0p to 400. 0p on Monday despite the firm's "reassuring trading update" from last week.
JPMorgan Cazenove downgraded shares of Cineworld to ‘neutral’ from ‘overweight’ on Monday and slashed the price target to 90p from 300p after the company shut the doors to its cinemas due to the coronavirus outbreak.
RBC Capital Markets downgraded its stance on shares of Dixons Carphone to ‘underperform’ from ‘sector perform’ on Monday, cutting the price target to 75p from 90p.
Deutsche Bank cut its price targets for Flutter, GVC and William Hill to take account of the wave of cancelled sporting events caused by the Covid-19 crisis.
Deutsche Bank said equity markets were pricing in declines in activity and earnings but HSBC was more cautious as it predicted a "hammer blow" for earnings from the Covid-19 crisis.
Equity markets could be 15% higher by the end of 2020 as government support for the economy pushes investors into real assets, Credit Suisse said in a strategy note.
Airlines are heading for tough government bailouts to save them from the coronavirus crisis, Citi analysts said as they recommended buying shares of Ryanair and Wizz Air and put 'sell' ratings on Lufthansa and Air France-KLM.
Morgan Stanley upgraded its recommendation for shares of InterContinental Hotels Group from 'underweight to 'equalweight', pointing out to clients its "high" liquidity and "low" cash burn, and arguing that the company's headroom on its debt covenants seemed "reasonable".
