Best of the Brokers for 23 June 2015
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Canaccord Genuity raised its target price for the apparel and footwear label to 3,450p from 3,180p, and maintained a “buy” rating. The broker said a recent trading update covering the 18 weeks to January 2016 confirmed that the iconic British brand is carrying strong momentum.
The engineering consultancy was downgraded by Panmure Gordon from a “buy” to a “hold” rating, with target price of 1,630p. The broker said the downgrade was made on valuation grounds, with insufficient upside remaining to the target price to justify a “buy” stance.
Despite rumours of a takeover by Borealis Infrastructure, Whitman Howard kept a “hold” rating with a target price of 2200p a share on the utility firm. Analysts believe that such a deal remains feasible, with numerous similar transactions having occurred over the past few years.