BEST OF THE BROKERS
Panmure Gordon upgraded its 2010 estimated dividend per share and net asset value for Workspace Group. The broker was encouraged by Workspace’s final results and feels it is de-risked following its rights issue, debt restructuring and ongoing disposal programme. The analysts rate the stock as a “buy” with a target of 20p.
BRITISH AIRWAYS
BA’s shareprice has underperformed its airline peers by 25 per cent since the end of April, said analysts at Citigroup, who have a “buy” rating on the stock with a target price of 260p. The broker said BA’s shares should recover relatively early due to its UK/US exposure and the equity element of its pension deficit. A key potential catalyst is news on its merger with Iberia.
WOOD GROUP
Barclays Capital downgraded oil services firm Wood Group to “equal weight”, but upped the target price to 370p from 350p, saying there was limited upside. BarCap sees the company as one of the steadiest and best run that it covers, with a low-risk business model, built around long-term relationships, rather than highly leveraged growth in good times.