Best of the Brokers for 05 August 2014
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GSK
Galvan Research has maintained its “buy” rating, saying that it “views the post-results sell-off as an over-reaction that has created an opportunity to buy…at a discount”. The broker points to the recent dividend hike as proof of confidence in strategy which should gain market support.
BNP PARIBAS
S&P Capital has maintained its “hold” rating for BNP Paribas following second-quarter results which recorded its record-breaking €5.75bn fine for violating US sanctions. S&P points to BNP’s strong underlying performance, with a 23 per cent increase in net income to €1.9bn (£1.5bn).
SHELL
S&P Capital has raised its rating for Shell to “hold” from “sell” after positive second-quarter results which saw recurring earning rise 33 per cent due to strong sales volumes in the oil, chemicals, and LNG divisions. Analysts have raised the 12-month target price to €31, from €27.