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Canaccord Genuity has upgraded to “hold” from “sell”, with the target price raised to 225p from 160p. The broker thinks that as geopolitical tensions have heightened, Chemring is likely to experience positive momentum due to its high exposure to short-cycle, conflict-related products.
UBS has maintained its “buy” rating, but cut the target price to 1,950p from 2,500p. The broker cut the target price after Aveva released a profit warning last week, but UBS kept its “buy” rating as it continues to see value in Aveva and believes now would be the wrong time to sell.
FinnCap has initiated coverage with a “buy” rating, with the target price set at 700p. The broker believes WANdisco has the right product in the right markets at the right time, with the big data sector remaining justifiably in vogue as the market is poised to accelerate into rapid growth.