The focus has been on discount retailer Primark's US expansion, say analysts at banking giant Barclays (LON:BARC), but the European roll-out is still under appreciated, they add.
It has pumped up the target price today on owner Associated British Food (LON:ABF) to 3250p from 3000p previously and repeated an 'overweight' stance.
"Primark's first US store opened on 10 September and expectations of a success of the franchise on this market have, in our view, supported ABF's valuation year-to-date," say the bank's scribes.
It reckons the US may account for as much as 15% of Primark's enterprise value, so while Primark may implicitly look expensive against other retailers, the current price still leaves the European roll-out under appreciated.
Conversely, JP Morgan Cazenove is much less bullish on fund management Aberdeen Asset Management (LON: ADN) and clipped the price target back to 360p from 415p to reflect the broker's earnings downgrade.
It has lowered 2015 EPS estimated by 1% to 29.7p (from 30.1p) and 2016 EPS estimates are reduced by 12% to 27.5p (from 31.1p) as the full year impact of lower AuM (asset under management) impacts earnings.
The rating is 'neutral'.
Another downgrade today belongs to chip designer ARM Holdings (LON:ARM), which has its target reduced to 1,230p from 1,300p.
More positively, Lonmin (LON:LMI) is upgraded by Swiss broker UBS to 'neutral' from 'sell', while Goldman Sachs lifts DS Smith's (LON: SMDS) price target to 430p from 380p and repeats a 'neutral'.
German bank is downbeat on satellite and media group Inmarsat (LON:ISAT) saying there are too many risks with the stock and cuts it to 'sell' from 'hold'.
The price target is also cut to 870p from 900p.
"The consensus view is that after the recent successful Global Xpress launch, Inmarsat is now free to reap the rewards of its much delayed GX investment programme, and then at end-2016, start to see material growth from its S-band European air-to-ground (ATG) network.
"We, however, see the company facing considerable competitive and regulatory headwinds which we believe fail to be reflected in the current share price," Berenberg.
City firm Investec was upbeat on JD Sports' (LON:JD.) first half numbers today, calling them "very strong" as it kicked its price target on the stock up 140p to 1,040p.
The popular tracksuit and trainer retailer posted a more than 80% rise in profits for the six months in to a record ££46.6mln.
Kate Calvert, analyst at Investec, said the figure had grown by more than the broker had forecast," showing the benefits of several years of store and infrastructure investment, strong product ranges, a growing online business & good supplier relationships, helped by European expansion".
She believes the firm's valuation does not reflect the material UK and European growth potential and repeated a 'buy' recommendation.
In the smaller caps, Collagen Solutions (LON:COS) has sealed a supply agreement with a US firm developing a regenerative medicine product currently in phase III clinical trials, it emerged today.
It will provide Histogenics Corporation with additional collagen material to be used in NeoCart, which is being developed to repair knee cartilage damage.
The stock, up 36% in the last six months, is at 12.25p but broker Panmure Gordon reckons the Collagen Solutions share is worth 18p.
Repeating his ‘buy’ advice, analyst Mike Mitchell said of today’s deal: “We consider this as another example of Collagen developing product-oriented relationships with third parties in order to drive long-term agreements in potential high value areas.”
Elsewhere, Horizon Discovery (LON:HZD) has inked an agreement with leading contract research firm -LakePharma - to licence out a cell line that has been adapted for manufacturing conditions.
It covers the commercial use of a genetically-engineered Chinese hamster ovary cell line, developed by Horizon and modified for manufacturing by LakePharma.
Repeating his ‘buy’ advice, analyst Mike Mitchell said of today’s deal: “With protein therapeutics representing an increasing proportion of pipeline and marketed drugs worldwide, we consider today’s news represents good validation of Horizon’s cell line bioproduction and licensing strategy.”