Citi retains its “sell” rating on Enterprise Inns. Its negative view comes despite recent interim results which it concedes put the pub company slightly ahead of its expectations. But despite a positive market reaction, Citi warns that consensus numbers are likely to fall modestly to reflect higher interest costs.
Credit Suisse has reduced its target price for TUI Travel to 294p while maintaining an “outperform” rating on the group. Credit Suisse says TUI’s half-year results were broadly in line with the group’s estimates but small changes together with the £90m volcano costs means it expects the shares to reduce slightly.
Standard & Poor’s Equity Research (S&P) maintains its “sell” rating on Severn Trent ahead of the utility group’s results expected later this month. S&P, however, highlights the positive news that the decline in metered water consumption by non-household customers has stabilised, reducing the impact on revenues.