BEST OF THE BROKERS
BBA AVIATION
Panmure Gordon raised its rating on BBA Aviation to “buy”, from “hold”, saying that it looks as if a long-awaited broad-based recovery in the US business jet market may have begun. The broker raised its target price from 155p to 190p to anticipate the US recovery and to take advantage of a recent retreat in the share price.
NEXT
Nomura raised its target price, to 1,810p, and estimates on Next following better-than-expected third quarter trading. It raised its pre-tax profit estimate to £473m and said that there is upside risk to margin estimates. But it added that this is balanced by a cautious outlook for 2010, and retained its “neutral” rating.
ASSOCIATED BRITISH FOODS
Royal Bank of Scotland reiterated its “sell” stance on Associated British Foods, but increased its target price from 685p to 740p. It said that the full-year results showed a stronger-than-expected improvement in Sugar profits and recovery in Grocery, which left earnings per share around two per cent ahead of its forecast.
To appear in Best of the Brokers email your research to [email protected]