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Investec has kept its “buy” rating, but upped the target price to 885p from 870p. The broker says full year results were just ahead of expectations, and that cash generation remains strong, while the current year has started well with a like-for-like sales increase comfortably ahead of peers.
HOME RETAIL GROUP
Numis has raised to “hold” from “reduce”, with the target price kept at 180p. The broker thinks second-quarter results were mixed, with Argos like-for-like sales falling short, but with an improved margin due to the pattern of seasonal sales, and steady performance from Homebase.