Jefferies took the red pen to oiler Tullow (LON:TLW) today, slashing it to 'underperform' from 'hold'.
"We are increasingly concerned over operational issues at the Jubilee field which is a fundamental stock risk overriding opportunity from oil shows in a new Kenya basin," it said, targeting 166p.
Earlier this month it emerged issues meant crude production at the site had dropped to around 40,000 barrels a day, expected to continue to March 20.
The market is pricing in an unwarranted premium to the firm's shares, Jefferies reckons.
Elsewhere, Citi group says IT safety specialist Sophos (LON:SOPH) is growing securely and started covering the shares with a 'buy'.
"We like the company’s exposure to the fast-growing IT security market, focus on historically under-serviced mid-market enterprises and strong cash generation," said Michael Goltsman.
It expects the group to deliver above-market growth, with around 20% year-on-year of billings growth in 2016 estimates.
"In our Blue-Sky analysis we estimate 45p per share (+15%) upside if Sophos can increase its cross-sell rates. Sophos has a largely subscription based revenue model which provides strong earnings visibility and cash flow."
Citi's discounted cash flow based target price is 300p compared to a current price of 224.8p - up 2.55% on the day.
Brooks Macdonald Group PLC (LON:BRK) comes under the spotlight of Liberum today, as the broker lifts the target on the wealth manager to 2060p from 1931p previously. It rates shares a 'buy '.
Last week, it posted double digit growth in discretionary funds under its control alongside a strong rise in interim profits.
Pre-tax profit rose 22% to £5.48mln, and investors are to be rewarded with a 20% boost to the interim dividend, which comes in at 12p a share.
Canaccord has lowered Gulf Keystone (LON:GKP) to 'sell' from 'hold' saying it is in a tough corner. It also cuts the target price to 4p from 15p.
Gulf Keystone’s future was cast into doubt as its results statement for 2015 brought forward concerns over future bond repayments, and highlighted a more pressing need for capital investment at the Shaikan field.
Shaikan’s output may start to decline later this year if a $71-88mln investment programme isn’t funded and approved, GKP warned.
"Gulf Keystone is in a very difficult position with limited time to find a solution to the overhanging debt issues," said analyst Charlie Sharp.
In smaller caps, house broker Peel Hunt was upbeat on Poland focused Domino's Pizza franchise holder DP Poland (LON:DPP) after the full year results today. It has now achieved 13 consecutive quarters of double-digit like-for-like systems sales growth (that includes own managed stores and sub-franchised). And last year marked a step-change in that its own managed store EBITDA (underlying earnings) moved to a positive £174,000 compared to a loss of £254,000 the previous year due to strong sales growth and reduced costs. Analyst Nichola Batram said : "Perhaps most encouraging of all is that the new stores opened outside of Warsaw have hit the ground running. "This suggests to us that the brand is penetrating beyond the capital at a rate faster than we expected originally." "Based on the UK, and adjusting for urban population densities, it is possible that Poland could accommodate over 500 stores. At that point, DP Poland would be worth considerably more than the c£30m it is today." The broker has a target price on the shares of 30p and a 'buy' stance.