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UBS keeps its neutral rating and nudged its target price 50p higher to 1,050p following the retailer’s Christmas trading update. The broker is cheered by WH Smith’s first like-for-like rise in travel sales since 2009 and thinks rising air traffic could boost sales further.
Morgan Stanley has upgraded the property firm from underweight to equalweight with a higher target of 540p. The broker says a sharp bounce in UK retail sales growth (even excluding online retail) suggests rents could recover strongly this year and drive better capital growth.
Numis has moved the bank from an add to a hold rating with a target of 1,074p. While the broker sees Secure Trust Bank as a good challenger bank, it believes its potential is already priced into the shares.