Lloyds Banking Group PLC (LSE:LLOY) and Close Brothers Group PLC (LSE:CBG) face much greater uncertainty over motor finance lending following the Court of Appeal rulings in three cases on Friday, according to Shore Capital.
The cases, Hopcraft (v Close Brothers) and Wrench/Johnson (v First Rand Bank / Moto Novo Finance) relate to motor finance commission arrangements notes the broker and could have significant financial implications for lenders.
Computacenter PLC (LSE:CCC) trading update was disappointing, said analysts, with the tailing off in trading pointing to an uncertain end to the year, especially with the fourth quarter the group’s most important period.
US bank Jefferies has trimmed its estimates by 5% and cut its share price target to 3,400p but adds that the comments were in line with updates recently from peers such as Bechtle and CDW.
Deutsche Bank has raised its target price for Bloomsbury Publishing PLC (LSE:BMY) shares from 753p to 852p, reflecting a stronger-than-expected performance in the first half of the fiscal year.
Bloomsbury reported revenue of £179.8 million for the first half, marking a 32% increase year-over-year, largely driven by strong consumer sales, up 47%.
Goldman Sachs has maintained its 'neutral' rating on Tesla Inc (NASDAQ:TSLA) despite a boost in the company’s profit margins, pointing to significant challenges that could affect the electric vehicle maker's ambitious targets for 2025.
Elon Musk's EV maker recently reported a gross margin of 19.8% for the third quarter of 2024, exceeding both Goldman Sachs’s forecast and market expectations. This improvement was largely due to lower production costs and higher-than-anticipated revenue from regulatory credits.
Panmure Liberum has issued an 'uneasy buy' recommendation on Inchcape PLC (LSE:INCH), the car distributor, after reducing its price target from 1,220 pence to 1,000 pence.
The decision follows a series of challenges affecting Inchcape’s outlook, particularly foreign exchange losses and weakening performance in the Asia-Pacific and Americas regions.