View the article online at http://citywire.co.uk/money/article/a499851
Broker Roundup: price target hikes for Diageo and Petrofac
Credit Suisse upped its price target for Diageo (DGE.L), citing growth in emerging markets by the world’s biggest spirits maker, while two brokers hiked that of oil services firm Petrofac (PFC.L).
‘We believe that robust performances in Latin America, Africa, and Asia Pacific, and corporate restructuring designed to capture the growth in emerging markets are both supportive of increasing Diageo’s target price,’ said analysts at Credit Suisse in a research note.
They added: ‘We raise our target price from £13.00 to £14.00 based on an upgrade to our medium-term sales and profit growth estimates for the International and Asia-Pacific regions.’
Upgrades, raised price targets
- Meanwhile, Citigroup raised its price target for Petrofac to £20.00 from £18.50, giving the stock a ‘buy’ rating.
- Natixis raised its price target for Petrofac to £17.88 from £16.50, with a ‘buy’ rating.
- Altium Securities hiked its price target for Oxford Instruments (OXIG.L) to 920p from 815p, with a ‘buy’ rating.
- Arbuthnot Securities raised its price target for financial services software provider First Derivatives (FRST.L) to 660p from 539p.
- Panmure Gordon raised its price target for software firm Innovation Group (TIG.L) to 25p from 23p, with a ‘buy’ rating.
- JP Morgan began coverage of electronics group Laird (LRD.L) with an ‘overweight’ rating and price target of 170p.
Downgrades and lowered price targets
- UBS reduced its price target for HSBC (HSBA.L) to 655p from 708p, giving the stock a ‘neutral’ rating.
- UBS cut its price target for Betfair (BETF.L) to 775p from 850p, with a ‘sell’ rating.
- UBS cut its price target for Old Mutual (OML.L) to 170p from 178p, with a ‘buy’ rating.
- Arbuthnot cut its price target for Mouchel (MCHL.L) to 45p from 65p, giving the stock a ‘sell’ rating.
- Peel Hunt cut its price target for clean-energy projects developer Trading Emissions (TREM.L) to 98p from 110p, with a ‘hold’ rating.
- Arden Partners reduced Game Group (GMG.L) from ‘add’ to ‘neutral.’
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
Andrew Friend, acting co-manager*, and Marcus Langlands Pearse, co-manager of the Henderson UK Property Unit Trust (HUKPUT), provide an overview of the key risks and opportunities for the UK commercial property market.
More about this:
Look up the shares
- Diageo PLC (DGE.L)
- Petrofac Ltd (PFC.L)
- Oxford Instruments PLC (OXIG.L)
- First Derivatives PLC (FRST.L)
- The Innovation Group PLC (TIG.L)
- Laird PLC (LRD.L)
- HSBC Holdings PLC (HSBA.L)
- Betfair Group PLC (BETF.L)
- Mouchel Group PLC (MCHL.L)
- Trading Emissions PLC (TREM.L)
- The Game Group PLC (GMG.L)
- Old Mutual PLC (OML.L)
More from us
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.