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Risk Warning
14/06/2011
Investec raised its rating on in vitro diagnostics firm Axis-Shield from ‘hold’ to ‘buy’, “based around our view that the lipids panel could be transformational.” The broker hikes its target price from 250p to 410p. While this target could rise to 520p by 2013, both prices "are more than enough to support a Buy case.”
Nomura reduced its target price for Imperial Tobacco by 100p, from 2,450p to 2,350p, as the tobacco group’s guidance on price aggression in Spain has prompted the broker to cut EPS estimates for 2012 by 7%. Nevertheless, a ‘buy’ is retained.
In contrast, Prime Markets suggests to ‘sell’ shares in Imperial Tobacco, saying that “the statement today and the warning over the slump in Spain has served to put the overall group performance into perspective.” The target price is 1,974p.
Matrix keeps its ‘buy’ rating on Faroe Petroleum despite the North Sea-focused oil group reporting a disappointing outcome from its Lagavulin well. The well has finally been plugged and abandoned having apparently encountered some hydrocarbon shows, but “no workable reservoir system was found to be present”. “Despite this disappointment, we think that Faroe represents an attractive mix,” the broker said. The target price is placed under review.
There’s still further to go in Barratt Developments’ share price, claims Panmure Gordon, which raises its target price on the stock to 158p, from 147p, and keeps its ‘buy’ rating. Panmure Gordon predicts a continuation of the stable market conditions seen in the year-to-date, and says that “[g]iven the positive ongoing developments at the business, we believe that investor confidence in its operations will continue to improve.”
Despite Majestic Wine’s full-year results beating finnCap’s predictions, the broker downgrades the wine retailer from ‘buy’ to ‘hold’, saying that the share price is now up with events. The target price is kept at 440p.
Business-to-business media group Tarsus has had its target price scaled by from 183p to 178p by Singer Capital Markets, but the broker keeps its positive stance with a ‘buy’. “We adjust our Target Price to reflect the impact of the [IFO] acquisition and the dilutive effect of the fund raise which was for both the acquisition and debt reduction purposes.”
Securities and Derivatives markets may be subject to rapid and unexpected price movements and past performance is not necessarily a guide to future performance. Trading in these markets is generally considered to be suitable only for the more experienced investor as it carries a high degree of risk. An investor may not receive back the amount of their original investment and in certain circumstances may be liable for a sum that is greater than their original investment. If in any doubt, please seek independent financial advice.