Deutsche Bank has raised the pub company’s target price by 40 per cent to 190p as it reaffirmed its “buy” rating. The bank’s analysts said that the recent good weather should see a return to profit in the chain’s third quarter results, due next week.
A recent meeting with Kingfisher’s management failed to convince Nomura to change its “neutral” stance, keeping its target price at 380p. The analyst believes it might have “missed the rally” in Kingfisher as a liquid way to gain exposure to the UK housing market uptick.
Espirito Santo has upgraded the miner from “neutral” to “buy” and raised its target price from 1,605p to 2,120p. The broker cited the recent improvement in the short-term outlook for Chinese iron ore demand and global pricing as a reason for upgrading its recommendation.