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OPG POWER VENTURES
Cantor Fitzgerald increased its target price to 134p from 130p, and retained a “buy” rating. Results last week showed that the near-tripling of capacity is now de-risked, and the commitment to a dividend has been underlined. Analysts also noted a stronger balance sheet than it had expected.
Investec increased its target price to 530p, with a “buy” recommendation. The broker said there are material self-help levers that can drive volumes, improve returns and unlock working capital inefficiencies and said Naked Wines’ profitability is distorted by its spend on customer acquisition.