<strong>QINETIQ</strong><br />Cazenove was disappointed by the subdued reaction to QinetiQ’s full year results, which were ahead of market expectations both in terms of earnings and balance sheet. But the broker retains its “outperform” rating on the stock, feeling comfortable that the company will continue to deliver strong organic growth in core divisions.<br /><br /><strong>SYNERGY HEALTH</strong><br />Synergy will report its preliminary results on Thursday, and Investec does not think there will be any surprises. The broker expects there to be reassurance that trading remains in line with expectations, which could continue to build investor confidence. The analysts reiterate their “buy” recommendation and 518p price target.<br /><br /><strong>UNITED UTILITIES</strong><br />Evolution Securities recommends investors to “add”, with a target price of 581p, United Utilities following the company’s preliminary results – but said there is still a question mark over its reported debt. The analysts said the company will benefit in the future from low debt costs, but feels that high capex could lead to dividend cuts.