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Numis Securities keeps a “buy” rating and target of 380p on the communications and sports marketing group following its interim results. The broker has shifted its earnings forecasts to reflect some later client spending, meaning it now expects £25.5m pre-tax profit this year.
Espirito Santo give IG Group a “buy” rating and a fair value of 660p ahead of a trading update on 17 September. The broker thinks recent market volatility stemming from the US taper and Asian markets will improve IG’s trading revenues, which it forecasts will come in at £87m.
Deutsche Bank cuts its rating for the publishing group from “hold” to “sell” and reduces its target from 1,125p to 1,000p. Deutsche warns that the publishing industry faces “funding pressure and massive technology change” and notes that “profit warnings seldom come in ones”.