On the heels of UK altnet broadband competitor Nextfibre lambasting incumbent broadband wholesaler BT Openreach’s fibre rollout, Barclays analysts have suggested that BT Openreach could eventually lose market share to its multitude of wholesale challengers.
Though analysts don’t see any altnets, whether that be Nextfibre, CityFibre or Hyperoptic, getting above a 20% market share, “we do see Openreach gradually ceding share to altnets and Nexfibre, resulting in Openreach nationwide market share settling around 60% in the medium term vs 74% at present”.
Centrica PLC (LSE:CNA) will return more of its cash to shareholders in 2024 once it has completed £270 million of share buybacks, analysts believe.
Operating profits at the British Gas owner fell by 17% to £2.75 billion in 2023 due to lower commodity prices, but experts at Citi reckon the group’s strong balance sheet can support the prospect of future capital returns.
Wedbush analysts lauded Coinbase Global Inc (NASDAQ:COIN)’s stronger-than-anticipated financial performance in the fourth quarter, noting the cryptocurrency exchange’s outperformance in several key areas.
Coinbase reported revenues of US$953.8 million in the quarter, surpassing street expectations of US$826.1 million with total revenue growth of 41.0% quarter-over-quarter.
NatWest Group PLC (LSE:NWG) is still a buy for analysts despite guidance for 2024 disappointing experts and the City warning that consensus estimates would be cut.
Shore Capital keeps its ‘buy’ rating for NatWest, but cut its share price target by 40p to 290p, albeit representing around a 30% upside to the current 225p price.
Tate & Lyle PLC (LSE:TATE), the maker of sugars and sweeteners, will be hoping the effect of a surge in weight loss drugs doesn’t leave a sour taste in its investors' mouths.
Ahead of a third-quarter trading statement on Wednesday 21 February, the food producer has been forced to contend with an unlikely rival in GLP-1 treatments.
Holiday Inn owner Intercontinental Hotels Group PLC (LSE:IHG) has seen its market value jump by a third since November and by over 40% since its new chief executive was appointed in July 2023.
Yet, analysts believe a full-year update on Tuesday 20 February will provide new boss Elie Maalouf with a true chance to stamp his mark on the hotelier.
Clore Brothers is facing “material charge for potential redress, as well as higher expenses” as an upshot of the FCA probe into motor finance lending, suggests Berenberg.
A retrenchment by the merchant bank from motor and premium finance lending (30% of loans) is also on the cards suggests the broker.