Standard & Poor’s (S&P) Equity Research has downgraded its rating on Signet Jewelers from “strong buy” to “hold” and said the jeweler continues to shine but there are few short-term catalysts. S&P said that for the shares to move higher, new store roll-outs or a resumption of shareholder payouts would be needed.
Numis said its impression of Domino’s Pizza was that, despite its growth, minimal debt and strong surplus cash-flow, the company has not lost sight of its costs consciousness and attention to detail. Numis issues Domino’s with a “buy” rating and a target price of 450p and said three per cent like-for-like growth should be beaten.
LLOYDS BANKING GROUP
UBS said that Lloyds Banking Group trades on 88 per cent of tangible book, despite being a profitable bank, delivering a rapid reversion to normalised profits. UBS said it expects the capital intensity of Lloyds’ balance sheet to decline, as it shrinks non-core assets. UBS retains its “buy” recommendation.
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