BEST OF THE BROKERS
KINGFISHER
Morgan Stanley upgraded Kingfisher to “equal weight” saying that the retailer’s 19.6p earnings per share target looks increasingly achievable, but that it doesn’t leave much upside with consensus already looking for 18.5p for 2011/2012 earnings. The broker no longer believes that an “underweight” weighting is appropriate.
CENTAUR MEDIA
KBC Peel Hunt has been very cautious on the outlook for Centaur, which has been the business-to-business publisher most affected by the downturn. But, having reviewed the firm’s prospects as the recession unfolds, the broker has upgraded the stock to “buy”, from “sell” with a revised target price of 50p, up from 28p.
INTERCONTINENTAL HOTELS
Panmure Gordon has taken a more positive outlook on InterContinental Hotels Group’s 2010 prospects and now assumes revenue per available room growth year-on-year. The broker upgraded its 2010 earnings per share estimate by 12 per cent and increased its target price from 870p to 910p, with a “buy” rating on the stock.