BEST OF THE BROKERS
ATKINS
Investec said yesterday Atkins was weathering the economic downturn well, as it continued to adjust its resources to meet expected market demand. The group responded early to the recessionary challenges, it added, which shows in its results. The broker is keeping its “hold” view and raising its target price on the stock.
DMGT
Investec also said DMGT, publisher of the Daily Mail, produced a strong set of 2009 results with profit contributions from DMGi and the two newspaper businesses comfortably ahead of the broker’s expectations. The sale of 50 per cent of Australian Radio for a good price shows again how DMGT’s focus has shifted, it said.
HOLIDAYBREAK
The mix of businesses at the group, the 2010 cost savings of £1.9m, and management’s confidence in trading – having met 2009 estimates – all support Seymour Pierce’s “buy” recommendation on Holidaybreak, the broker said yesterday. It added that it did not expect any major disposals of assets or divisions.
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