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Berenberg has kept its “buy” rating after the surprise retirement of chief executive Andy Harrison last month. The broker said the underlying fundamentals remain strong and the new milestones “increase its confidence about the potential for Whitbread to unlock value”.
Shore Capital reiterated its “buy” rating at a target price of 188p ahead of the Morrisons’ first quarter trading update under new chief executive David Potts on Thursday. While it predicts a like-for-like sales decline of around 3-3.5 per cent, the broker said it harbours a “cautious optimism” about its future.
RBC Capital has downgraded its recommendation on Anglo American to “underperform” from “sector perform” and reduced its target price from 1,100p to 900p, warning that it faces the prospect of weaker contribution from De Beers which will further slow an improvement in the balance sheet.