Best of the Brokers for 23 September 2014
Espirito Santo has upgraded to “buy” from “neutral”, and raised the target price from 2,000p to 2,050p. The broker thinks that Ultra Electronics is well positioned to meet growing demands for its products, with good growth prospects also for its security, transport and nuclear divisions.
UBS has downgraded to “sell” from “neutral”, and cut the target price to 100p from 140p. The broker thinks the management team is very likely to delay indefinitely the investment in a new concentrator at Yeristovo in the current price environment,and given the unrest in the Ukraine.