BEST OF THE BROKERS November 9, 2009 PACEInvestec said that its analysis of Pace’s underlying numbers, coupled with a belief in the strong medium-term drivers for the industry, encouraged it to take a positive stance on the stock and initiate with a “buy” rating and a target price of 273p. The broker believes Pace will benefit from continuing take-up of high definition [...]
DOES THIS MARK AN END TO THE POLICY OF QUANTITATIVE EASING? November 5, 2009 PHILIP SHAW INVESTEC“The schedule suggests that the operations should cease in the run up to the February MPC meeting, which means there will be some tapering off in QE. We will learn more in the MPC minutes (due 18 November), and while we are keen not to rule anything out, we suspect that this will [...]
BEST OF THE BROKERS November 18, 2009 INMARSATInvestec downgraded Inmarsat to “hold,” saying the company’s launch of its global satellite phone services (GSPS) and in-flight mobile services have presented significant long-term growth opportunities. This combined with the potent mix of Inmarsat’s high operational leverage and underlying fundamentals have driven the broker to upgrade its assessment, with the target price rising from 650p [...]
BEST OF THE BROKERS November 3, 2009 RYANAIRRBS said that there is a lack of visibility on Ryanair’s equity, as it reiterated its “buy” rating with a reduced target price of 350p. The broker highlighted the airline’s uncertain growth rate as it comes to terms with the maturing of its business, and said that getting Boeing to engage in serious aircraft negotiation [...]
BEST OF THE BROKERS November 3, 2009 RYANAIRRBS said that there is a lack of visibility on Ryanair’s equity, as it reiterated its “buy” rating with a reduced target price of 350p. The broker highlighted the airline’s uncertain growth rate as it comes to terms with the maturing of its business, and said that getting Boeing to engage in serious aircraft negotiation [...]
WHAT DO YOU THINK THE MPC WILL DECIDE? November 1, 2009 JAMIE DANNHAUSER LOMBARD STREET RESEARCH“A disappointing initial third quarter GDP estimate and a sharp drop in broad money in September gives the doves ammunition. On balance, the MPC is likely to keep the asset purchase facility unchanged next week. Expect there to be dissenters, however.”JONATHAN LOYNES CAPITAL ECONOMICS“With the previous extension to QE now complete [...]
SHOULD THE MARKET TAKE HEART FROM LOGICA’S RESULTS? November 4, 2009 DEREK BROWN SEYMOUR PIERCE“One thing of note was how strong their public sector business is in the UK. It is possible that this has been driven by the sector bringing things forward ahead of the election next year, when they will be forced to cut spending. I am therefore a bit cautious about income from [...]
SHOULD THE MARKET TAKE HEART FROM LOGICA’S RESULTS? November 4, 2009 DEREK BROWN SEYMOUR PIERCE“One thing of note was how strong their public sector business is in the UK. It is possible that this has been driven by the sector bringing things forward ahead of the election next year, when they will be forced to cut spending. I am therefore a bit cautious about income from [...]
Inmarsat shares surge on earnings November 9, 2009 SATELLITE communications firm Inmarsat posted a better-than-expected 18.4 per cent rise in third-quarter earnings yesterday, and said it was on track for the year, sending its shares to a four-year high. The company, whose satellites provide phone and broadband services to ships, aircraft and remote locations worldwide, posted earnings of $133mn, helped by cost controls. [...]
15m placing as Topps Tiles profits crack November 24, 2009 TILE and wood flooring retailer Topps Tiles yesterday reported a sharp 45 per cent dive in full-year profits and said it is set to raise £15.4m from a share placing to bolster its balance sheet against a possible double-dip recession. The company, which trades from 321 stores, reported that its annual pre-tax profit to 26 [...]