UBS has upgraded the energy exploration and production firm from “neutral” to “buy” and has increased its target price from 850p to 1,035p. The broker said Genel had a positive first half with optimistic drilling results in many areas and diminished risk from Kurdish oil and gas exports.
FinnCapp reiterates its “sell” recommendation but raises its target price from 620p to 690p based on 2015 forecasts. Following the sale of King Systems, the firm consists only of the drug delivery business Bespak. The broker believes the shares are overvalued.
Numis Securities upgraded the engineering support services firm from “hold” to “buy” with an increased target price of 1,417p. The broker believes Babcock has positive prospects for growth supported by its bid pipeline of £15bn, which is expected to translate into contract wins.
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