Barclays Capital ups PartyGaming to “overweight” citing its improved operational performance. Sets a target price of 330p, suggesting 15 per cent upside to the current share price. Says if recent speculation of a merger between PartyGaming and Bwin proves true the shares would gain
45-55 per cent from their current value.
ROLLS ROYCE GROUP
Investec upgrades Rolls-Royce group to “buy” saying current consensus estimates for the full year are too low. Expects upgrades of 8-15 per cent following its 11 February preliminary results driven by cost savings and improved foreign exchange rates on hedged transactions. Sets an increased target price of 580p from 530p.
ING reiterates its “buy” rating on Kingfisher and ups its target by 15p to 295p saying its recent share price weakness provides a good buying opportunity. Highlights long-term gross margin expansion potential, freehold asset backing and emerging markets exposure. Says the medium-term B&Q recovery story is intact.