Supermarket Income REIT’s balance sheet is in stronger shape following the sale in 2023 of the company’s interest in the 26-store Sainsbury’s Reversion Portfolio (SRP), notes Shore Capital
“SUPR used that sale to de-lever its balance sheet and conduct a debt refinancing exercise that involved the cancellation of two shorter-dated debt facilities, the reduction and extension of an existing debt facility, and the completion of a new unsecured debt facility with a new lender.”
Bank of America has upped its Nvidia Corp price target to $1,100 from $925 ahead of the tech giant's GPU Tech Conference on 18 March.
The new price target is based on a 37-times forward price-to-earnings (PE) ratio, up from 31x previously, to reflect the rapidly growing total addressable market in the artificial intelligence sector.
Pearson PLC (LSE:PSON) shares stayed close to a five-year high after a bullish presentation by chief finance officer Sally Johnson at Citi’s TMT conference in London.
According to the broker, the key takeaways for investors from the conference were that 2024 is set to be a cleaner year in terms of growth with all segments contributing.
Flutter Entertainment PLC (LSE:FLTR) has received an upgrade from JP Morgan which is taking a more positive stance on the Betfair and Paddy Power owner than previously on its prospects in the US.
FanDuel is Flutter’s big brand in the US and JP Morgan has raised forecasts for revenue and profit growth at the business into double-digits from 2026 onwards.
Ladbrokes owner Entain PLC (LSE:ENT) has been hit with downgrades of sorts by Deutsche Bank analysts, which cut forecasts after better-than-expected earnings last week were overshadowed by a regulatory cost hit.
Though the bookmaker outdid market expectations with an underlying profit of £974 million, news that new rules in the UK and Netherlands would cause a £40 million hit this year sent shares to their lowest in three and half years.
Glencore PLC (LSE:GLEN) shares topped the FTSE 100 leaderboard on Wednesday as Deutsche Bank upgraded its rating on the stock due to the potential for extra shareholder returns, while other analysts cited improving copper and coal markets.
Deutsche upped its rating on the Swiss commodities giant to 'buy' from 'hold' with a 540p share price target.
Keywords Studios PLC (AIM:KWS, OTC:KYYWF) has demonstrated its resilient and diversified business model through its full-year results for 2023, reckon analysts at Shore Capital Markets.
The company achieved a revenue increase of 13% year-on-year to €780m, with organic growth contributing approximately 9% of this increase, excluding a 3% impact from foreign exchange fluctuations and US strikes.
Persimmon PLC (LSE:PSN)’s less-than-optimistic outlook during Tuesday’s annual earnings call has cast a cloud on the market’s stance on the FTSE 100 housebuilder.
Chief executive Dean Finch was at pains to cast a positive light on his company’s profits more than halving, but he was unable to get around the fact that the near-term outlook is cautious and market conditions are set to remain subdued in the months ahead.