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Canaccord Genuity has cut the insurance group from “buy” to “hold” and lowered its target price to 250p following a meeting with management. The broker thinks motor insurance premiums will drop five per cent next year, hitting earnings more than expected.
Peel Hunt has a “buy” rating on the clothes retailer and a target of 550p ahead of first-half results on Wednesday, which will be the first earnings for new chief exec Angela Spindler. The broker sees plenty of medium-term sources of growth, providing Spindler is prepared to invest.
UBS has raised its rating on the retailer from “neutral” to “buy” and lifted its target from 45p to 60p as the broker becomes more optimistic about the sector. UBS thinks Dixons and some other shops such as M&S will see cash improvements as large investment programmes come to an end.