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AUTO TRADER GROUP
Numis reiterated its “buy” recommendation for the online car market, citing encouraging financial year 2015 results, with revenues up eight per cent and EBITDA up 15 per cent. The broker described the group as set fair, and said it will enjoy cyclical tailwinds from the used vehicle industry.
Canaccord Genuity reiterated its “hold” rating for the retailer. The broker said it likes the flexibility of B&M’s business model in terms of store sizes, locations and the broad appeal of B&M’s multi-price consumer offer, and added that its organic growth story has scope to run for several years.
BRITISH AMERICAN TOBACCO
Panmure Gordon reiterated its “buy” rating. The broker increased its financial year 2015 earnings per share estimate by one per cent following the completion of Reynolds’ acquisition of Lorillard, the investment into Souza Cruz, the acquisition of TDR and recent currency movements.