BEST OF THE BROKERS
PARTYGAMING
KBC Peel Hunt upgraded Partygaming to “buy”, noting that the shares have fallen back over 20 per cent over the past two weeks, a technical situation created by the recent placing. But the broker said that the outlook for the group has not deteriorated – quite the opposite as recent developments in Germany could prove promising.
DOMINO’S
Noble said that, in the short term, the lack of news flow and premium rating could result in share price weakness for Domino’s. But the broker believes that increasing market penetration and a continuing trend of consumers trading down to eating in will drive further earnings upgrades, and retained its “positive” stance on the stock.
NATIONAL EXPRESS
Panmure Gordon downgraded National Express to “hold” and cut its price target to 330p, following the group’s announcement that it had ceased discussions with Stagecoach regarding a potential transaction. The broker assumes that the firm will raise £300m in new equity, at a significant discount to the current share price.