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UBS has a “neutral” rating on the plane services group but has hiked its target from 280p to 340p, arguing that stable traffic from business jets is underpinning the recent share price surge. UBS also believes the firm’s forecast for marginal growth is quite cautious.
Panmure Gordon keeps its “sell” rating on the pharmaceutical group and its target price of 3,100p, telling clients to switch into rival company Shire. The broker thinks the firm’s dividend could be at risk as the new management team focuses on chasing growth.
Berenberg has cut the insurer from “buy” to “hold” with a target of 112p in light of problems in the firm’s Irish business that could further constrain RSA’s balance sheet and “mean it can no longer afford to be unlucky”. The broker thinks RSA should sell off some assets.