BEST OF THE BROKERS
CHIME COMMUNICATIONS
KBC Peel Hunt said that Chime’s takeover of Essentially Group – to form one of the world’s most powerful full-service sports marketing organisations – is a good deal but not one without elements of risk. The broker indicated the potential upgrade that might result if and when the deal completes, and upgraded the stock to “buy”.
INCHCAPE
Panmure Gordon upgraded Inchcape from “hold” to “buy” and increased its target price to 42p from 29p, saying that recovery momentum will continue to build across the car industry in a number of its markets. The broker said there is 50 per cent potential upside to the revised target price and that the shares look good value.
ROBERT WISEMAN
Investec said that it looks set to be a much stronger first half for Robert Wiseman in 2010 versus 2009, with volumes well ahead of new business wins and also a bounce back anticipated in margins. It has a “buy” recommendation, with a target price of 500p, and upgraded its full year expectations by around 10 per cent,