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Analysts at Numis cited below-forecast half year results and a weak balance sheet as reasons for their “Sell” rating on Paragon. They said, of its peers, Paragon is “by far the most at risk of a recovery that sees interest rates increase.” The stock’s target price of 297p is well below yesterday’s close of 445p.
WH Ireland reiterated it’s “Buy” rating on Renew and increased the target price by 25 per cent to 400p on the back of solid results yesterday. Analysts said the engineering services firm’s shares had “recovered from the doldrums” and the order book going forward was up “healthy 28 per cent”.