Numis reiterates its “buy” recommendation on Debenhams citing the retailer’s solid interim results, which place it comfortably ahead of Numis’ expectations. Numis raises August forecasts to £147m from £137m and sees scope for a rise in like-for-like sales. Despite a strong run, Numis believes the stock continues to offer value.
A “buy” recommendation has been maintained for BHP Billiton by Standard & Poor’s (S&P) equity research, which say that BHP's bulk commodities, particularly iron ore and metallurgical coal, are the key drivers of its continued optimism thanks to Chinese growth and limited global supplies. S&P raises its 12-month price to 2,700p.
Reckitt Benckiser’s share price has underperformed the S&P Europe 350 Consumer Staples index over the last 12 months largely due to investors’ concern about potential competition for Suboxone in the US. Standard & Poor’s equity research says this issue has now been “priced in” and upgrades its rating to “hold” from “sell”.
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