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Numis has downgraded Enterprise Inns from “add” to “hold” with a target price of 170p ahead of the firm’s management statement tomorrow. The broker said that the company’s recent strength, valuation and regulatory backdrop had caused it to change its recommendation.
N+1 Singer held its “buy” rating for Carpetright with a target price of 640p following its third quarter update that highlighted disappointing performance in Holland. The broker said that the company’s UK trading had been solid and its initiatives in the market continue to gain traction.
Canaccord Genuity reiterated its “hold” recommendation for Philips with a target price of €23 following the firm’s fourth quarter results. The broker said that while losses had been lower at Innovation, Group and Services, further LED price erosion is anticipated in the Lighting division.