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UBS upgrades the media group from “hold” to “buy” and moves the firm to its “most preferred” list with a higher target price of 830p. With “portfolio cleanup largely complete”, UBS estimates a possible six per cent organic growth and four per cent dividend yield in the coming year.
HSBC downgrades Polymetal’s rating from “overweight” to “neutral”, but raises its target from 730p to 820p. HSBC says the downgrade is partly due to “lower gold and silver prices and lagging sales” combined with a share price that has risen 80 per cent over the past two months.
Canaccord has a “buy” rating and has raised its target to 650p ahead of the leisure firm’s interim results on Friday. The broker forecasts an eight per cent compound annual growth rate through to 2018 and believes forecast upgrades are possible, along with rising returns for investors.