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Numis reiterated its “add” rating on the technology firm, noting that the £256m tag on its research chemicals unit is an “excellent” sale price, and better than the broker had envisaged. “Although the deal will still be dilutive... it will have a less adverse impact than feared,” the broker added.
POLAR CAPITAL HOLDINGS
Shore Capital downgraded the investment management group from a “buy” to a “hold” rating. The broker said: “Investment performance in Japan has shown some short term improvement and the majority of Polar’s other strategies continue to perform well”. Target price is 475p.