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Barclays has cut the drinks maker from “overweight” to “equalweight”, after a strong share price rise over the past year. The broker remains confident in Britvic’s management and its credentials as a safe haven investment, but sees the stock as well-priced with no reason to rise in the next six months.
Cantor Fitzgerald sticks to a “hold” rating and lowers its target from 391p to 320p ahead of the supermarket’s results tomorrow. The broker believes Sainsbury’s is not fully prepared for the fallout from Morrisons’ price war pledge last week and expects to see margins falling.
Panmure Gordon expects the insurer to post a 22 per cent rise in UK life and pensions sales when it updates the market on Thursday, though it thinks currency movements will keep a lid on profits. The broker sticks to its “buy” recommendation and 1,592p target price.