To appear in Best of the Brokers, email your research to firstname.lastname@example.org
Peel Hunt reckons investors should “buy” the housebuilder, and has a target of 1,100p, ahead of final results due tomorrow. The broker predicts record profit of around £74m, up 19 per cent on last year thanks to higher margins, and expects Galliford’s net debt level to fall.
Morgan Stanley has posed 10 questions for the retailer after last week’s interim results, and kept its “underweight” rating and 3,920p target. The broker is concerned about Next’s buyback plan falling through, and floats the idea of the firm taking stores from a DIY retailer such as B&Q.
UBS has started covering the polymer products engineer with a “buy” rating and a target price of 460p. The broker says the shares have further to bounce after being “unfairly punished” for poor first-half results that have left Fenner trading at a 25 per cent discount to the rest of the sector.