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Shore Capital keeps its “sell” rating with a fair value estimate of 2,700p following the testing firm’s trading update on Friday. The broker has cut its full-year revenue forecast by four per cent to reflect a slower-than-expected recovery and unfavourable currency movements.
Peel Hunt thinks investors should “buy” shares in the bike retailer and has a target of 550p ahead of the firm’s full-year results on Thursday. The broker forecasts a 2.5 per cent fall in profits to £72m, following a year of high investment and ahead of an expected bounce from the Tour de France.
While Panmure Gordon keeps a “buy” rating and 810p target on the drinks groups, it reckons Britvic’s results on Wednesday will be “solid rather than stellar”. The broker predicts a 1.3 per cent rise in revenues to £648m and earnings up 4.7 per cent to £56m, slightly below consensus forecasts.