RBC Capital has lost enthusiasm for recruiters Hays (LON:HAYS), Michael Page (LON:MPI) and SThree (LON:STHR) with all three downgraded to ‘sector perform’ from ‘outperform’.
A recent rally in Hays shares means there’s little remaining upside, according to analyst David Greenall, who also highlights “muted growth” possibilities in the UK’s jobs market.
With attention on Michael Page in particular he added that there were “greater short-term macroeconomic headwinds” facing the company than were previously anticipated.
And for SThree, he points to short-term uncertainty in regards to white collar staffing in the UK.
Car and home insurer Esure (LON:ESUR) has been downgraded by Peel Hunt to ‘hold’, with analyst Andreas van Embden highlighting an FCA investigation into the use of ‘big data’ in the sector which could later impact on price comparison sites.
Miner Anglo American (LON:AAL) is cut to ‘reduce’ from ‘hold’ by HSBC, while Goldman Sachs repeats a ‘sell’ recommendation and moves out its price target to 450p from 430p.
Goldman, ahead of Anglo’s capital market day in London, expects the miner will switch to a more austere dividend policy.
In terms of upgrades there was little to note.
Soon to be acquired BG Group (LON:BG.) had its rating lifted to ‘outperform’ from ‘sector perform’ by RBC.
While Jefferies slightly upgraded its view of Halma (LON:HLMA), repeating a ‘buy’ and increasing the target price to 925p from 875p.