Bank of America has reaffirmed its ‘Buy’ rating on Alphabet Inc (NASDAQ:GOOG), raising its price target to $206 despite a mixed second-quarter performance.
The tech giant's earnings report for Q2 2024 showed robust growth in Search and Cloud services, with net revenue hitting $71.4 billion, surpassing Wall Street's expectation of $70.7 billion.
Manchester United Plc (NYSE:MANU) continues to offer “plenty of promise” after the football club posted “relatively clean” fiscal third quarter results earlier this month, according to Deutsche Bank Research analysts who have boosted their price target on the stock.
On July 10, the club posted Q3 revenue of about $173.4 million, ahead of estimates of $162.9 million, while a loss per share of $0.31 was greater than the loss per share of $0.27 expected.
Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB)’s dramatic upheaval plans will result in the divestment of approximately 30% of its business, according to analysis from UBC.
Announced alongside an interim trading update on Wednesday, the restructuring forms part of Reckitt's strategy to sharpen its brand portfolio and streamline its operations, focusing on higher-growth, high-margin Powerbrands.
The problems continue to pile up for global luxury bellwether LVMH, this time in the wine and spirits division.
First-half results show a 9% year-over-year decline in organic liquid sales in the period, driven by weak local demand and destocking in China, as well as lower demand in Europe and the US.
AstraZeneca PLC (LSE:AZN) releases its quarterly results next Thursday in the wake of an Investor Day at which outlined its bold plan to almost double its turnover to $80 billion by the end of the decade bolstered by a strong pipeline of new drugs, particularly in oncology.
Against this backdrop, and a strong financial performance in the first quarter, analysts are now asking whether the Anglo-Swedish drugs giant will upgrade its already bullish financial forecasts for 2024.
UBS analysts remain positive on UK bank stocks over their European counterparts, with a particular bias for Barclays PLC (LSE:BARC).
In a broker note published on Tuesday, UBS highlighted UK banks’ solid earnings season and an improved outlook, citing increasing net interest income driven by structural hedges.
BT Group PLC (LSE:BT.A) is facing a difficult first half of the year, according to Citi, as last year’s bumper price rises wash through.
A first quarter update is due on 25 July and this is also likely to show average per user (ARPU) under pressure, suggests the US bank.
Sewage and wastewater treatment remain a cloud over the water sector that UBS does not expect to dissipate soon.
Yesterday’s Environment Agency annual review again highlighted storm overflows, notes the broker, and while there was an improvement for some companies, the headline data was still poor and attracted criticism from the EA chair.