Investec has kept its “add” rating, but upped the target price to 661p from 645p. Investec thinks AG Barr continues to outperform the UK soft drink market, forecasting that interim profits will grow in advance of the revenue line, and expects some modest margin uplift for the full year.
Numis has reduced to “hold” from “add”, with the target price at 2,300p. Numis reduced its full year profits forecast after weaker than expected first half results but noted management expects a better second half, to benefit from recent acquisitions, product launches and growth initiatives.
AFRICAN BARRICK GOLD
Westhouse Securities has upgraded to “add” from “neutral”, upping the target price to 285p from 250p. The broker thinks the company has improved by lowering costs while increasing production, and management has made significant progress to the company’s growth pipeline.