Bridgewell greets a positive start to drilling in the Celtic Sea by restating its buy advice.
Broker says: ‘Today’s news should help unwind the Island ’s significant, 56%, discount to our 96p/share NAV.
‘The well will now be sidetracked and a positive production test on this well-bore would further de-risk the circa 70BCF gas field, adding up […]

Deutsche reckons the recent results were better than expected, but adds that a valuation of 55 times current year earnings looks a little stretched. Restates its sell and 120p a share price target.

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Citigroup has adjusted its price target to 580p from 600p for the prospective fine for price fixing, but retains its buy recommendation.

Shares have taken a tumble since the prelims, so Bridgewell reckons now’s a good time to be buying.
It retains an overweight recommendation on the stock and says: ‘We continue to believe that the current valuation represents a good opportunity to gain exposure to one of the leading independent kids’ entertainment businesses, active in a consolidating […]

Goldman Sachs raises its price target to 1005p from 827p a share, but retains a neutral recommendation on the stock.

Bridgewell is buoyed by the results of preclinical tests on brain tumour drug Scavadin, but not enough to tempt it to raise its recommendation from neutral.
Broker adds: ‘Although the trial was preclinical, we view these results as reasonably promising, and further preclinical work will focus on optimising the dosing regimen of this potentially efficacious ‘radiotherapy […]

Goldman Sachs reckons UK banks currently look oversold, particularly as the share price appears to take into account at least one further quarter point rate rise.
Given this, the broker is still unwilling to upgrade the Black Horse Bank, which remains a sell with a 510p a share price target.
Broker says: ‘Lloyds TSB continues to look […]

Bridgewell repeats its buy after yesterday’s drilling update.
Broker says: ‘At 380p/share Tullow is trading at a 13% premium to our 335p/share, but the reshuffle of the drilling campaign has increased investors’ exposure to near-term exploration upside; in our midcap universe the stock ranks second only to SOCO on exploration upside in 2007.’

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Citigroup retains its sell and 460p a share price target after results. Broker says: ‘Good performance in selling forward, but benefits largely offset by rising costs. Output expectations for the current year will probably come down.’

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Canaccord Adams restates its buy advice and 88p a share price target after yesterday’s results. Says there were no major surprises, heartened by the fact that it will find a new partner for the its erectile dysfunction drug MED 2002 before pressing ahead with phase III trials. It means there is very little prospect it […]

Collins Stewart is a buyer of the stock after results yesterday, although a price target of 526p a share looks a little on the bullish side.
Broker was particularly impressed by the performance of Plethora’s Timm Medical arm, which delivered double digit revenue growth.

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Goldman Sachs is in generous mood upgrading the bank to neutral from sell. The price target rises to 1195p a share from 1063p.

HSBC has cut the stock to neutral from overweight after a massive run up in the value of the stock. Reckons the stock is worth 1455p.

Citigroup has initiated coverage of the stock with a buy recommendation and a 210p a share price target. Broker is particularly impressed by the company’s Asian expansion plans.

Deutsche Bank has upgraded to buy from hold as it reckons earnings will be given a hefty boost by the firm’s liquified natural gas business, which it reckons is performing well ahead of City estimates. Values the shares at 890p each, up from 680p.

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Citigroup has gone to buy from neutral on the stock ahead of results. Broker reckons the performance of the raw materials business will be better than the market is currently anticipating.

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Credit Suisse has downgraded to underperform from neutral as it reckons the component parts of the business are all potentially volatile. With a price target of 115p a share, it sees better value elsewhere.

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Forget the break-up story and look at the fundamentals. That is the sentiment behind ING’s downgrade to sell from hold as it looks at the prospects for the Pru. While it has downgraded, the broker reckons the shares are worth 704p, up from 635p.

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Collins Stewart restates its buy and 210p a share price target after early analysis of kimberlites in Alto Cuilo, Angola. Mini bulk sampling at AC63 threw up some interesting findings.
The broker says: ‘It recovered a number of larger stones, including two larger than a carat and several white stones that are likely to be high […]

Collins Stewart restates its buy and 210p a share price target after early analysis of kimberlites in Alto Cuilo, Angola. Mini bulk sampling at AC63 threw up some interesting findings.
The broker says: ‘It recovered a number of larger stones, including two larger than a carat and several white stones that are likely to be high […]