Easyjet , BAT Industries, Acacia Mining , Shell

A round-up of top broker recommendations today

picture of cigarettes
BAT may have to cough up more says RBC

The collapse of the pound and terror concerns, which has hit travel to destinations in North Africa and Turkey, led airline easyjet (LON:EZJ) to sound the earnings alarm earlier this month.

UBS has helped alleviate the stress by putting the shares back on the ‘buy’ list.

The upgrade was enough to propel easyJet to the top of the FTSE 100 even though the target price is trimmed to £10.50.

Deutsche has lifted its target on Acacia Mining PLC (LON:ACA)) and repeated a 'buy' on the stock, saying the turnaround story is progressing well.

On Friday, the gold miner, which operates three mines in Tanzania  - Bulyanhulu, North Mara and Buzwagi - swung to a pretax profit of US$80.8 million for the quarter to end September, compared to a loss of US $14.6 million in the same period a year earlier.

Deutsche's target moves to 580p from 570p.

British American Tobacco (LON:BATS) will likely have to significantly up the ante in its £38bn bid to acquire full control of US partner Reynolds America, rendering the deal far less attractive.

That, at least, is the view of a leading brokerage, which has taken a closer look at the putative transaction.

RBC Capital Markets wasn’t a fan BATS before it went public with its ambitions.

Today it said it is assuming the FTSE 100 giant will have to raise the bid premium to 30% above the pre-offer share price from 20% currently.

Jason Gammel, at Jefferies and whoo rates Shell (LON:RDSB) as a ‘buy’ with a 2400p target, says he is expecting to see improvement in cash generation when the oiler releases results for its third quarter early next month.

Gammel adds that he believes progress with asset sales will allow Shell to hit its transaction target of between US$6-8bn for 2016.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Xpediator PLC's CFO Robert Ross and COO of Logistics Romania to step up as...

Xpediator PLC's (LON:XPD) CFO Robert Ross speaks to Proactive's Andrew Scott following the news chief executive Stephen Blyth will step down from the position. Blyth will continue as a director in the position of founder and non-executive deputy chairman. While the search for a permanent...

22 hours, 57 minutes ago

2 min read