WPP PLC (LSE:WPP)’s recent rebound has failed to shift sentiment at UBS, which doubled down on a ‘sell’ rating for the advertising firm on poor prospects ahead.
Though UBS upped WPP’s share price target from 680p to 720p, the bank suggested a resurgence in its share price since the summer was unlikely to last.
Unilever PLC (LSE:ULVR) shares fell to their lowest since July after analysts at RBC Capital Markets said the Vaseline, Lynx and Cornetto owner "hasn't the wherewithal" to grow sales volumes as much as it wants.
The FTSE 100 consumer good group's aim is to grow volumes 2% but analyst James Edwardes Jones said this is unlikely given various factors, including a "lack of market dominance", as it is market leader in only half of its business once it has spun off its ice cream arm.
Reports of changes to the way carbon storage accounting is measured, adds to the uncertainty over Drax Group's (LSE:DRX) BECCS technology and subsidies going forward, suggests Citi.
Citing minutes from the Intergovernmental Panel on Climate Change, the US bank says that changes to the clarity of BECCs and biomass bridging mechanism, which on the back of possible rule changes “could be kicked into the long grass”.
Investor sentiment towards the UK water sector has hit its worst level in a year despite regulator Ofwat last month confirming firms would soon be able to hike bills.
According to UBS analysts, UK water firms had become the most negatively crowded based on long and short positions among their European counterparts as of January.
Shares in Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF), which today confirmed production at its third field, have the potential to more than double in value – that’s according to a ‘buy’ note from stockbroker Zeus Capital.
Arrow confirmed on Monday that it has started the new year on the front foot as it confirmed that the AB-1 well had begun production, and was flowing some 658 barrels oil per day, or 329 bopd net.
Endeavour Mining PLC's (LSE:EDV, TSX:EDV, OTCQX:EDVMF) rating has been kept at 'buy' at Swiss bank UBS, which sees an inflection point for the gold miner's growth and cash generation approaching.
A FTSE 100 member, Africa-focused Endeavour had its challenges in 2024, notes UBS, especially operationally at Sabodala-Massawa, cash conversion, the departure of its chief executive mid-year and political risk in Burkina Faso.
US-owned broker KBW has upped its forecasts for the liability of three of the main listed companies facing big bills: Lloyds Banking Group PLC (LSE:LLOY), Close Brothers Group PLC (LSE:CBG) and Vanquis Banking Group PLC (LSE:VANQ).
The broker says that while refunding all commission would be very harsh for loans that were 'not expensive', it still reflects poorly on a bank like Lloyds that should have learnt the lessons from PPI
Rolls-Royce Holdings PLC (LSE:RR.) shares fell 4% to drag down the FTSE 100 after they were downgraded by Citigroup.
A 'buy' rating was removed by the US bank, which moved to a 'neutral' stance.