BEST OF THE BROKERS
KINGFISHER
Credit Suisse yesterday said it was upgrading its forecasts for Kingfisher in anticipation of its third quarter results on 3 December. The broker said that Kingfisher’s increased forecasts at the company’s interims has sparked a 23 per cent rise in its target price to 270p. The broker also noted the group’s short term margin recovery.
PREMIER FOODS
Premier Foods’ share price drop is unjustified according to broker Evolution Securities, who believes the company’s underlying business remains healthy and its debt is under control and moving in the right direction. Due to a minimal change to consensus earnings, Evo reiterated its “buy” recommendation and 50p target price.
RENTOKIL
Following a sales meeting with the board, Panmure Gordon said it maintains a positive stance on Rentokil’s shares. While there remains a lot to do before the company is back to rude health, Panmure said it thinks Rentokil can continue to outperform expectations based on cost saving initiatives alone.