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N+1 Singer has upgraded to “Buy” from “Hold”, but cut the target price to 80p from 85p. The broker thinks Debenhams revised strategy and disciplined approach offers clear medium term upside potential, and that a “trading buy” looks justified now ahead of preliminarily results.
THE RESTAURANT GROUP
Numis has downgraded to “Add” from “Buy”, but upped the target price to 760p from 725p. The broker thinks the group had strong first half results with a good increase in like for like sales, and a positive outlook ahead, but cut to add on a surge in the share price in the last six weeks.