BEST OF THE BROKERS
STANDARD CHARTERED
Morgan Stanley upgraded Standard Chartered to “equalweight”, with an increased price target of 1,500p, due to lower credit costs and better wholesale revenues. But the broker noted that, if growth slows, asset quality could again suffer and that the recent excellent growth in wholesale may be unsustainable.
AEGIS
Noble downgraded Aegis from “positive” to “neutral” ahead of the group’s fourth quarter trading statement at the end of the month. The broker said the stock has risen 10 per cent since 3 September and now sits at its price target of 113p. Noble added that the shares have discounted the expected momentum from new business wins.
BRITISH AIRWAYS
Deutsche Bank downgraded British Airways from “hold” to “sell”, with the target price held at 175p, in a note previewing the airline’s second-quarter results. The downgrade is based on the broker’s belief that the main positive catalysts for the stock – an Iberia merger and anti-trust immunity tie-up with American Airlines – look to be at risk.
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