Canadian broker RBC has given its assessment of the three listed UK water companies and tweaked its targets lower, though it concedes there are lot of moving parts at present that could change.
All of the trio offer something a little different, it says, with Severn Trent (SVT) cleanest, United Utilities (UU) the sturdiest and Pennon (PNN) most discounted.
Interim results from Harbour Energy PLC (LSE:HBR) were almost a non-event given the looming $11.2 billion Wintershall acquisition, but analysts at Stifel said the numbers served to highlight that the recent sell-off in the shares presents "a buying opportunity".
Based on the expected size of the deal, the current business is estimated by the analysts to be only 30% of proforma production and only 10% of expected free cash flow (FCF), assuming a "worst case" scenario for UK windfall tax.
Citi has renewed its enthusiasm for Glencore PLC (LSE:GLEN) describing it as a 'future-facing and cash today story'.
After suspending its rating on the miner and commodity trader, it has resumed cover with a 'buy' rating and 530p price target.
FTSE 250-listed commercial property developer Derwent London PLC (AIM:DLN) published a set of “encouraging interim results” on Wednesday “that confirm both strengthening momentum in the London office occupational market and a progressive stabilising of underlying asset values", said house broker Shore Capital Markets.
Key to the 6.5% increase in earnings per share was an improvement in the West End occupier pictures, where vacancies remain at a healthy 4.5%.
Hiscox Ltd (LSE:HSX) has had its price target cut by analysts at Canadian bank RBC, who said there were some concerns in the insurer's interms yesterday.
Notably, these were weakening growth momentum in the second quarter and an ambiguous outlook for Retail
Advertising giant WPP PLC (LSE:WPP) fetched a good price in its $1.7 billion disposal of strategic communications and advisory firm FGS Global, reckon Citi analysts.
The price tag came comfortably above FGS’s implied $1.4 billion valuation when WPP sold a partial stake to KKR in April 2023. It also exceeds Citi’s own sum-on-the-part valuation of $1.5 billion.
Ladbrokes and BetMGM owner Entain plc’s interims showed a “surprisingly early return to net gaming revenue growth”, said analysts at broker Shore Capital Markets.
Shore Cap highlighted that online revenues returned to growth in the second quarter, exceeding earlier forecasts.
Wizz Air Holdings PLC (AIM:WIZZ) is in danger of undershooting its own recently reduced guidance this year, analysts at Citi predict.
The US bank sees the ongoing grounding delays caused by the GTF engine issue also affecting its growth trajectory.
UBS has upgraded YouGov PLC (AIM:YOU) to 'buy,' citing improved confidence in the company's value and future performance.
The move followed the pollster's trading update, which addressed key concerns and showcased effective internal changes.
Housebuilder Persimmon PLC (LSE:PSN) delivered first-half results that would have impressed the new Labour government and investors, with accelerating numbers of new housing completions and profits ahead of forecasts.
Management commented that consumer confidence continues to improve with a strong pick up in enquiries and visitor levels since the general election in early July.