S&P Capital IQ maintained its “strong sell” rating, and revealed that the firm’s shares are now trading 21 per cent above its target price. The broker also stated that target price had been raised by two per cent for 2014, while for 2015 target price has increased by three per cent.
Cantor Fitzgerald reiterated its “buy” rating and said there would be “relief all around” that the retailer’s recent trading update for the fourth quarter was better than expected, with retail sales up 0.5 per cent and directory sales up 7.5 per cent. Target price remains 7,100p.
CAPITAL & REGIONAL
Numis reiterated its “buy” rating following the company’s announcement of a conditional exchange of contracts for the sale of its German joint venture. The broker said the disposal was the “last major step in the group’s strategy of refocusing its business on UK shopping centres”.