F&C ASSET MANAGEMENT
Canaccord Genuity has cut the asset manager from “buy” to “hold” and lowered its target from 130p to 110p. The broker expects 2014 to be another year of transition for F&C, with outflows set to stabilise.
Berenberg has started covering the maker of hinges and locks with a “buy” rating and a target of 327p. The broker thinks Tyman’s exposure to the US, where the firm makes two-thirds of its revenues, mean the group is well-positioned to benefit from a housing recovery.