"Rightmove operates the most robust business model we have ever seen," is the eye catching statement from US broker Jefferies today.
It has upgraded the property website to 'hold' from 'underperform' and given the price target a big kick up to 3,600p from 2,131p.
"....its offering is increasingly seen as integral to the operations of its clients and home sellers expect to see their properties listed on the group’s websites," said Anthony Codling.
It comes after what the analyst calls were a robust set of results, which saw it delivering its 15th consecutive year of growth.
Revenue increased by 15% to £192.1mln. Underlying operating profit increased by 16% to £144.3mln and underlying operating margin improved to 75.1% (2014: 74.6%).
Also today, publisher Pearson (LON:PSON) is downgraded by heavyweight Goldman to 'sell' from 'neutral'.
"While we believe that Education remains an attractive long-term market, we expect structural headwinds to persist and are cautious on Pearson’s ability to execute on its 2018 operating profit goals.
"In our view, its expectation that it can improve operating profit to £800 mn in 2018 is unrealistic and we expect it to achieve only £740 mn," it said.
Deutsche takes a more positive view on Direct Line Insurance (LON:DLG), moving its price target to 450p from 420p and repeating a 'buy'.
The same broker also repeats a 'buy' on commodity trader Glencore (LON:GLEN) and lifts the price target to 138p from 125p.
Following results yesterday, it also repeats a 'buy' on house builder Taylor Wimpey (LON:TW.) and lifts the target price to 247p from 233p.
The firm has seen greater pressure on shares in the last month than its large cap peers, the broker notes, but with one of the highest yields in the sector and a more limited risk profile, the broker sees this as a buying opportunity.
City brokers met specialty pharma group Clinigen's (LON:CLIN) half year numbers positively. Numis said it was confident the firm could deliver 55% of full year gross profit estimates in the second half due to the momentum in the revitalisation of new products, strong midyear CTS (clinical trial services) and MA (managed access) pipelines and the recent further weakening of sterling. It rates shares a 'buy', targeting 916p.
Peel Hunt also has a 'buy' and targets 1,000p, saying the group was on track to deliver on the broker's full year 2016 expectations of more than 20% growth in earnings per share (EPS). Stifel said: "Clinigen continues to drive earnings from both organic growth and sensible acquisitions, as highlighted by the acquisition of Totect that consolidates its dexrazoxane franchise." The broker has the shares trading on price-earnings of 15.2 times for 2017 estimates - a 13% discount to its UK spec pharma peers. It repeated a 'buy' and targets 800p. Scribes at HSBC have repeated a 'buy' on telecoms and online giant BT (LON:BT.A). The target price is unchanged at 580p. It comes after watchdog Ofcom is to let BT keep its Openreach network arm, although it warned that it could still force the company to spin it off. It said it had decided to overhaul Openreach’s governance and strengthen its independence from BT.