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With an interim management statement due from the insurance giant at the end of the month, analysts at Canaccord Genuity have maintained their “buy” rating and target price of 282p. The IMS was not expected to contain an update on cost reductions, the analysts said.
The online seller of washing machines and other domestic appliances has tumbled from over 350p in March to 166p yesterday, but Shore Capital has upgraded the stock to a “hold” rating, arguing that it is now trading at fair value. The analysts originally had a “sell” recommendation.