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Panmure Gordon retains a sell rating, increasing the target price to 750p. Greene King is due to report for the 2013 fiscal year on 27 June. Panmure estimates £160.1m profit before tax, slightly lower than expected. In 2014, £169m profit before tax is expected.
Bernstein gives a rating of “outperform”, noting the attractiveness of Unilever’s personal and home care arms. The group achieved over seven per cent growth in both home and personal care from 2008-2012, but only grew by 3.1 per cent in food over the same period.
Liberum Capital keeps its sell rating and 1050p fair value, after Texas reduced the number of high school tests from 15 to 5. Pearson provides school testing in Texas, with a five to seven year contract. If other states follow suit, it may have medium or long-term effects for Pearson.
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