ALLEN | PANMURE GORDON
G4S has delivered a solid set of results some two per cent ahead of our forecasts at the adjusted pre-tax profit level, with robust organic growth running at four per cent as expected. We remain happy with our recently revised target price of 315p and the shares remain in buy territory.
CAROLINE DE LA SOUJEOLE | SEYMOUR PIERCE
The group delivered an impressive performance in 2009. The shares have had a decent run of late, increasing by 3.6 per cent relative to the FTSE All Share in the past three months. We believe there is still enough momentum to push the shares higher and we raise our price target to 320p.
JONATHAN JACKSON | KILLIK & CO
Although the results are robust, they are unlikely to generate upgrades to earnings forecasts and, following the strength of the shares in the run up to the results, we would expect to see some profit taking. However, the stock remains attractively valued (11x 2011 earnings per share) and we would see any weakness as a buying opportunity.