Best of the Brokers for 30 November 2015
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Analysts at Liberum have boosted payment systems company PayPoint to a “buy” rating after the company posted interim results in line with expectations. The firm’s been given a target share price of 1,000p, up from 935p currently. PayPoint shares reacted badly on Friday, dropping by 11 per cent, following an £18m write off on the value of the mobile and online side if the business it’s looking to sell. Analysts, however, credit the retail division as performing well.
Newcastle-based baker Greggs has been given a “buy” rating by experts at Shore Capital following reports of the company expanding into Northern Ireland with its first store. The share price is currently at 1,216p. Analysts say the company is in good shape with more fuel in the tank to deliver benefit for shareholders – though there are concerns “lower hanging fruit may already have been gathered”.
Convenience store supplier Greencore has been given a “hold” rating from analysts at Numis. The share price has a target of 347p from a current price of 325p. Experts found projections for sales were on course and added even if the margin on the UK convenience side of the business does stall there is still good overall margin scope due to the poor starting base in the US. Analysts also applauded the company’s five successive years of double-digit earnings per share growth.