UBS has switched its rating to “buy” from “netural”, pointing out it is trading at a 23 per cent discount to its FTSE peer group. It believes the current share price ignores the sustainability of Sage’s 2009 cost savings programme. Anticipates a “solid” trading update later this month, and says “patient” buyers will be rewarded.
Killik & Co reiterates its “buy” rating citing Autonomy’s recent inline trading update, and yesterday’s license agreement with BAE Systems. It says the license win eliminates recent concern over a lack of major contract wins, and that long term prospects look good. “A market leader with strong growth potential,” it adds.
Singer says “buy” JD Sports citing the “strong performance” revealed in yesterday’s trading update. It is encouraged by the growth seen in Fashion, and expects this to become one of the main growth drivers for the group. “There is considerable scope for profits to improve if they continue to enhance the product,”?it says.
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