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BEST OF THE BROKERS
BELLWAY
UBS upgraded Bellway to “buy” after its trading update confirms a stabilising market. The broker has factored in write-downs in 2010 of £54m, and has new earnings per shares estimates of 15.27p in 2009 and 1.19p in 2010.
GO-AHEAD GROUP
Go-Ahead’s pre-close update has shown the company to be on track for Royal Bank of Scotland’s 2009 forecasts, but the broker has reviewed its 2010 divisional outlook, brought its estimates in line with consensus and downgraded to “hold”.
GKN
Goldman Sachs issued an update on GKN after it announced its plans for a £403m rights issue. The broker views the announcement as a positive for GKN shares as it addresses near-term refinancing concerns and rates the stock a “buy”.