Morgan Stanley has raised its rating on the property firm from “equalweight” to “overweight” and boosted its target price 10 per cent to 2,450p. The broker thinks London office developments are entering a “sweet spot”, with asset values soaring while scarce funding keeps new entrants at bay. Morgan Stanley has also upped its targets for Great Portland and Hammerson.
UBS has started covering the printer maker with a “buy” rating and a target price of 750p. Sales have risen 11 per cent in the first four months of the year, and the broker sees scope for faster growth as the global economy continues to improve. “Domino is currently a top-quartile return on capital business, but we believe operational leverage will drive margins and asset turnover up,” the broker adds.
Panmure Gordon has a “hold” rating on the gaming firm and has cut its target price from 219p to 201p following a disappointing trading update on Monday. The broker has also cut its pre-tax profit forecasts for the year by seven per cent, or £12m, and remains concerned about the progress of a turnaround plan within Ladbrokes’ digital business.