Altice UK’s sale of its 24.5% stake in BT Group PLC (LSE:BT.A) to India’s Bharti Global may have removed niggling fears of an overhang event for the British telecommunications giant, according to Deutsche Bank analysts.
A share overhang event occurs when a large number of shares are expected to be sold or become available for sale, which can potentially depress the stock's price.
Brokerage Stifel has initiated coverage of Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) with a buy rating and a 65p price target.
Analysts cited the development of Sovereign’s Kasiya project in central Malawi as key to the company’s investment thesis.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) was reaffirmed as a buy stock from Panmure Liberum on Monday with an adjusted price target of 32p from the previous 39 pence.
This revision reflects the dilution following Chariot's recent $9 million fundraising rounds through a placing and open offer.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)'s irst-half numbers were strong and ahead of forecasts, says Panmure Liberum, reflecting a good production period at the 64%-owned Blanket mine in Zimbabwe.
Meanwhile, Caledonia is now expecting to deliver the new feasibility study on the Bilboes Sulphide project in the first quarter of 2025, something that can be transformational for the group.
After a tough first half, pavings group Marshalls PLC (LSE:MSLH) expects a modest recovery in the second half as the macro backdrop gradually improves.
Market expectations for the full year are projected to be broadly in line with the current consensus.
S&U PLC (LSE:SUS) has reported it is still being affected by the FCA not yet concluding its Borrowers in Financial Difficulty review of Advantage motor finance.
There remain significant uncertainties regarding in particular the outlook for collections whilst the FCA review remains ongoing and whether there might be some need for remediation.
JD Sports Fashion PLC (LSE:JD.) shares dropped close to 4% on Monday after it was downgraded by analysts at Deutsche Bank, who argued the market is overstating its earnings and ability to generate cash.
Deutsche Bank lowered the fashion retailer’s rating from ‘hold’ to ‘sell’ and downgraded its share price target from 115p to 110p as it continued to dispute its guidance and free-cash-flow yields.