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UBS has kept its “buy” rating for Imagination Technologies, increasing the target price to 300p from 250p. The broker sees operational momentum improving at the company, a wide breadth of licences providing greater diversification, and demonstrated resilience in royalty rates.
Jefferies has kept its “buy” rating for Shire, upping the target price to 5,200 from 4,045. The broker noted the recent court judgement in favour of Shire on the patent for its drug Vyvanse, and believes that a formal offer from AbbVie for Shire is likely before the 18 July deadline.