BEST OF THE BROKERS
MICHAEL PAGE
Ahead of the firm’s first half results on Monday, Panmure Gordon rates Michael Page a “sell” with a 94p target price. The broker said the current outlook cannot be anything but cautious, making valuation difficult. Rival Adecco’s acquisition of Spring Group makes the chances of it buying Page slim, said Panmure.
COOKSON
UBS introduced a short-term “buy” recommendation on Cookson, with an increased price target of 400p, saying that the firm will continue to benefit from improving steel data over the next two quarters. UBS added it believed the probability of a debt covenant breach has reduced.
DANA PETROLEUM
Deutsche Bank upped its target price for Dana Petroleum by 22 per cent to 1,640p, and retained a “buy” recommendation, saying that the firm is set for good news on a range of wells later this year, and that details of its exploration developments underpin its core net asset value, reducing risk to investors.