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Barclays upgraded the insurer from an “equal weight” rating to an “underweight” rating, noting that operations are “robust” across the firm;s key business units. The broker added that Old Mutual “offers attractive emerging market growth superior to most European peers, with a competitive progressive dividend policy supported by cash earnings”.
Cantor Fitzgerald is keeping its recommendation and target price for the oil firm under review, following the news that Nostrum has pulled out of the race to buy it. The broker said the group is underfunded to carry out its short-term strategy in Kazakhstan, and with debt on the balance sheet, “it is looking increasingly likely that the company will need further injections of liquidity sooner rather than later”.
Canaccord Genuity reiterated its “buy” recommendation on the retailer, following its interims which showed growing global traction. The broker said it is “sanguine on an August retail performance that fell shy of management’s expectations, especially with September broadly back in line with expectations”, adding: “We remain long-term fans and advocates.”