Numis has downgraded engineering group Keller from a “buy” to an “add” following a strong share price performances. Analyst Christen Hjorth said: “Keller has reported full-year results in line with expectations and the group’s strong order book indicates that 2015 will be another year of growth.”
WH Ireland has retained it “buy” recommendation for 4imprint, but raised the promotional products specialist’s target price to 1,100p from 925p. “With large and fragmented markets to attack, further significant market share gains are expected, at the same time putting the company on track to double sales over the next five years,” said analyst Nick Spoliar.
Numis has lowered its recommendation for building materials supplier Travis Perkins to “hold” from “add”. Analyst Howard Seymour sees “the shares now as fairly valued, notably as the operational leverage into the recovery will not be as great as our favoured plays in this space”.