BEST OF THE BROKERS
AEA TECHNOLOGY
RBS yesterday reduced its target price for AEA Technology to 27p and moderated its stance to “Hold” – despite the group’s 43 per cent jump in revenues and eight per cent lift in operating profits in the half year. But RBS?said it was concerned about
AEA’s increased pension deficit of £137.6m. However, the broker said that net debt was in line with forecasts.
ANGLO-AMERICAN
Collapsed commodity prices and currency-affected costs has put Anglo-American’s balance sheet under enormous strain, according to broker Ambrian. But Ambrian said that restoration of the dividend would be possible if cash from asset sales flows quickly and said if it strips down to just the core iron ore, copper and platinum, further value would be released.
FULLER SMITH & TURNER
KBC Peel Hunt yesterday raised its target price to 540p for pub group Fuller Smith & Turner after the group’s pre-tax profits beat expectations. The pub group reported robust trading from a summer weather boost, but KBC Peel Hunt said the share price rise since the group’s announcement has made it issue a “hold recommendation”.
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