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Canaccord Genuity reiterated its “hold” rating on the oil company after it produced better-than-expected results for the second quarter. The broker also noted that the firm’s strong performance sees production guidance for the full year set at the upper end of the guidance range.
Numis reiterated its “hold” recommendation on the engineering firm, stating that “end market weakness is not assisting the management’s improvement plans”. The broker said it prefers Melrose for the next deal or “GKN for its lower rating and Fokker purchase” in this sector.
Panmure Gordon reiterated its “buy” rating on the plastic design firm after a recent capital markets day. The group is on track to meet forecasts, and the broker said: “Considering the volatile polymer price environment this year, this indicates the defensive qualities of the group’s business model.”