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Westhouse has initiated coverage of Kier Group with a “buy” rating, and a target price of 2,110p. While noting that some see Kier as over-diverse, the broker believes its component parts gel together into a unique blend of construction, services and property expertise.
Panmure Gordon has reiterated its “buy” rating for Shire, increasing the target price to 4,626p from 3,800p. Following Shire’s rejection of AbbVie’s offer of 4,626p per share, the broker noted that there may still be potential for a 5,000p-plus offer.
Cantor Fitzgerald has maintained its “buy” rating, keeping the target price at 72p, following news that drilling operations within its Rharb permit in Northern Morocco have now recommenced. The broker believes that there is considerable near-term value contained within the Rharb permit.