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Numis reiterated its “hold” rating, noting that the firm was a “major beneficiary of the collapse in fuel prices”. If current fuel prices were broadly maintained, the broker stated, it estimated that the company could make a bunker fuel cost saving of over $500m (£318m) in the 2015 financial year.
GULF MARINE SERVICES
Canaccord Genuity reiterated its “buy” rating. The broker noted that the price of the company had dropped “dramatically” in the fourth quarter, and said the GMS Enterprise unit’s ability to secure work was key to the firm’s outlook. Target price is 180p.
Westhouse Securities maintained its “neutral” rating based on the company’s interim update on the business review currently being led by recently appointed chief executive Pedro Ros. The broker said it was encouraged by the update and maintained the 220p target price.