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Greene King, the 200-year-old Suffolk brewery, needs to cut its combined brand portfolio of 16-17 to six or seven to ensure medium-term success, analysts at Canaccord Genuity said. They reiterated their “buy” recommendation, but lifted their target price of 850p to 1,050p. Following a recent takeover of Spirit PubCo, benefits from the acquisition could rise to £40m, they said.
The outlook for Hays, a big UK recruiter, has become more uncertain, said analysts at Barclays, due to a marked slowdown in the UK. They lowered their target price to 170p from 185p, but kept their “overweight” stock rating for the company. This was due to the fact the analysts believe the economies of Europe and the UK will continue to deliver growth – which is good news for the jobs market and recruiters.