Cantor Fitzgerald highlighted Good Energy Group’s (LON:GOOD) switching success, as a sales push brought on some 10,000 new customers.
The renewable energy powered utility offered customers a 20% to the average price offered by its ‘big six’ rivals, and whilst Cantor analyst Adam Forsyth points out that margins will be lower for new customers the amount of customers gained makes it a “sensible pay off”.
“Good had seen slightly slower growth in customers in the first half and we see this as more than rectifying that,” he said in a note.
Cantor rates Good Energy as a ‘hold’, with a 230p price target.
JP Morgan says ‘I told you so’ – or words to that effect – as it commented on European potash firm K+S after it as revealed yesterday that its proposed merger with Canada’s Potash Corp had fallen through.
Analyst Ben Scarlett said: “We downgraded K+S in August reflecting our view that the market had overestimated the probability of a deal being completed with PotashCorp.”
“Now on a stand-alone basis, it is hard to argue K+S represents a positive risk-reward investment in the current deflationary environment.”
Goldman Sachs upgraded PZ Cussons (LON:PZC) to ‘buy’ from ‘neutral’ and though the target is moved to 355p from 370p (current share price - 305p).
Elsewhere, in the oil sector, Barclays Capital upgraded Wood Group (LON:WG.) to ‘overweight’ from ‘equal weight’ and it set a price target of 830p (currently 674p).
Stifel downgraded Ophir Energy (LON:OPHR) and Premier Oil (LON:PMO) both to ‘sell’ from ‘hold’, and the price targets were set at 80p (currently 96p) and 50p (currently 77p) respectively.