Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF) shares were in favour on Monday after the company’s Wressle field, in Lincolnshire, onshore UK, secured planning permission in order to expand operations.
It will allow production to be enhanced, by new wells, and also allows gas to be handled, and commercialised.
Marks and Spencer Group PLC (LSE:MKS) was top of the FTSE 100 leaderboard on Monday, helped by a positive view on its prospects by analysts at RBC, who expect shareholder returns to start stepping up soon.
The Canadian bank upped its share price target to 400p from 350p as it tweaked its forecasts higher for a share it has an ‘outperform’ rating on.
Peel Hunt has reiterated its positive long-term outlook on Phoenix Group Holdings PLC (LSE:PHNX), highlighting the company’s shift toward becoming a broader pension provider while its back book continues to generate significant cash flows.
The pension giant reported better-than-expected cash generation for the first half of 2024, with a total of £950 million in remittances to the group holding company.
Investment bank Jefferies has concurred with TI Fluid Systems PLC (LSE:TIFS)’s rejection of a 176p per share offer tabled by ABC Technologies..
According to Jefferies, the offer, while representing a 29% premium to Thursday’s closing price, is not sufficiently attractive.
HSBC has reaffirmed its buy rating on discoverIE Group plc following the company's capital markets day (CMD) on 11 September.
Despite some observable short-term risks, the bank pointed to discoverIE's “attractive” valuation, underpinned by an 8-9% free-cash-flow yield at the current share price of 603p.
Panmure Liberum has reiterated its buy rating on MP Evans Group plc after the company announced a 20% increase in its interim dividend, exceeding the anticipated 5% growth.
Analysts highlighted the company’s better-than-expected results and maintained its full-year profit before tax (PBT) forecast, projecting growth of 8%.
Fevertree Drinks (AIM:FEVR) plc, the maker of the premium range of drinks mixers, has been given a lower share price target by Deutsche Bank after failing to make a splash in last-week’s first-half results.
Though sales were up 10% in the US (which became the largest geographic market last year), they were down 6% in the UK and 10% in Europe.
City analysts were quick to note that a delay to Galliford Try Holdings PLC (LSE:GFRD)’s full-year results due this Thursday was the result of external auditing factors rather than Galliford’s internal trading performance.
“We recognise that this is an audit process, rather than a trading-related delay,” said house broker Peel Hunt.