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Arden Partners reiterated its “buy” recommendation on the oil services firm, but cut its price target from 300p to 280p, following results for the first half. The company maintained its 4.5p interim dividend, which the broker said “further strengthens the case for Cape as an attractive income stock”.
Panmure Gordon retained its “sell” rating on the manufacturer, warning that the share price may “fall a lot further” unless the board focuses on the balance sheet. It added: “We look forward to hearing how the management is planning to pay a dividend by finding new savings in the stationary cupboards.”
GREEN DRAGON GAS
Cantor Fitzgerald retained its “buy” recommendation on the gas firm after a “solid set of results” for the first half of 2015. The broker said the numbers, which included a 121 per cent increase in gross profit, showed “both financial and operational progress”, and reduced the target price from 832p to 812p.