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Cantor Fitzgerald has reiterated its “buy” rating for Ashtead, keeping the target price at 1,060p. The broker believes that the current price does not fairly reflect financial and operational strength, and is confident that the firm is better positioned than ever to benefit from a cyclical upturn.
Westhouse Securities has maintained its “buy” rating on Trifast, while increasing the target price to 185p from 125p. The broker believes that following forecast-beating results for the year, the company is set for further organic revenue growth.
Standard and Poor's has reduced BP from “hold” to “buy”, also lowering the target price to 525p from 575p. The broker believes that while there may be some longer term optimism from the recent LNG deal with China, caution is still warranted due to outstanding liability issues.