Barratt Redrow PLC (LSE:BTRW) has received a show of support from JP Morgan, which attributes its sector bottom performance this year to investors waiting on the sidelines for the closing of the Redrow acquisition.
Now complete, Barratt’s cost-saving potential (at least £90 million) as well as revenue synergies (not quantified) should come to the fore suggests the US bank.
Panmure Liberum has revised Computacenter PLC (LSE:CCC)’s price target downward from 3,350p to 3,185p, reflecting a reduction in the company's full-year adjusted profit forecast for 2024.
The IT services provider’s third-quarter performance fell short of expectations, driven primarily by slower corporate spending and delays in North American order completions.
Panmure Liberum has revised its price target for Amaroq Minerals from 104 pence to 89 pence, citing factors like updated financial models and recent share dilution from convertible note conversions.
Despite the lowered target, Panmure reaffirmed its "buy" rating, pointing to substantial progress at the company’s Nalunaq gold mine in Greenland.
Panmure Liberum has reduced its price target for Kooth PLC (AIM:KOO) from 500p to 375p, citing recent contract challenges in the United States as a key factor.
Kooth, a digital mental health provider, recently lost a major contract in Pennsylvania after failing to secure necessary stakeholder support.
Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF) can add between 4p and 6p to its valuation if the next Oklahoma well, Taylor-1, proves successful, that’s according to stockbroker Shore Capital.
The broker currently has a 29p per share tangible net-asset valuation for the company, and a new discovery in Taylor-1 could see that rise to between 33p and 35p, the broker said in a note on Tuesday.
HSBC Holdings PLC (LSE:HSBA) shares hit a six-year high after its third-quarter results received a warm welcome from investors and analysts who enjoyed the lending giant making hay while the sun shines.
The performance was driven by its Wealth division, up 28%, said analyst Edward Firth at Keefe, Bruyette & Woods, along with strong new business flows in Life and robust Markets, up 13%.
BP PLC (LSE:BP.) scraped past forecasts in its third quarter, notes Jefferies with a comment that it will review the scope for buybacks reflecting the underwhelming tone of the statement.
Debt gearing rose on lower cash flow and one-offs such as German wind farm payments but the comments suggested that going forward the amount handed out by the oil giant will slow.
Panmure Liberum has upgraded its price target on pub chain Marston’s PLC (LSE:MARS) from 70p to 80p per share with a maintained 'buy' rating.
The upgrade was driven by Marston's “ability to generate sustainable and reliable operating (free cash flow), removing its reliance on asset disposals to fund capex and debt amortisation”.
YouGov PLC (AIM:YOU) said it had been tricked out of £1.8 million by cyber fraudsters using impersonation software to authorise an illegal payment.
In a statement with its full-year results, the pollster said it had been the victim of a “social engineering event” but there was no breach of its systems or data compromised.
NatWest Group PLC (LSE:NWG) is continuing to garner upgrades following its forecast-busting results last Friday.
Canadian bank RBC on Tuesday upgraded its target to 390p from 365p though it still only expects the bank to perform in line with the sector.
Trainline PLC (LSE:TRN) has received a couple of upgrades following an unscheduled and bullish trading update yesterday.
Second-half performance has been strong, according to the online rail ticketing group’s statement, with Trainline benefitting significantly from operating leverage as it scales up.