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ASSOCIATED BRITISH FOODS
BNP Paribas has raised its rating on the conglomerate that owns Primark from “underperform” to “outperform” and pushed its target price from 1,728p to 2,400p. The broker believes that AB Foods’ sugar business is poised to benefit from changing market rules in the coming years.
Peel Hunt keeps its “buy” recommendation for the publisher along with a target price of 165p following Bloomsbury’s purchase of legal publisher Hart. The broker sees the deal as relatively small but sensible, with the chance to add to earnings almost immediately.
JP Morgan has upgraded TalkTalk from “neutral” to “overweight” with a rise in target price from 225p to 300p. The broker notes rising numbers of TV customers, a lower churn rate and the company’s performance being in line with the FTSE 250 over the past year as its reasons.