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INTERNATIONAL PERSONAL FINANCE
Shore Capital has downgraded IPF to “hold” from “buy”, following price capping proposals in Poland. According to the broker, this represents a major and unfortunate twist in the investment story for the group and it could have a significant detrimental impact on financial performance.
FinnCap maintains a “hold” rating with a target price of 175p on the manufacturing group. The broker downgraded its EPS forecast by 11.5 per cent in 2015, as the two main negative pressures on forecasts continue: weakness in the minerals markets and the decline in oil service demand.