JP Morgan Cazenove has issued Vivendi with an “overweight” rating noting that management has indicated several times this year its willingness to acquire the 44 per cent of French mobile operator, SFR it does not own. JP Morgan believes that this could take place later this year or early next year after the completion of the sale of the 20 per cent stake in NBC Universal.
Royal Bank of Scotland (RBS) said that 2010 and 2011 are likely to be challenging years for EADS but, looking ahead, said the following factors could combine to generate a recovery in earnings: cost reductions, the elimination of losses on the A380 programme and higher aircraft prices. RBS has issued EADS with a “buy” recommendation and a target price of €25.
Numis retains a “buy” recommendation on Rightmove saying there has been some encouraging news in the property sector. Numis has already upgraded 2010 forecasts in late February and May. Given the group’s subscription model Numis sees greater upside to 2011 forecasts and in anticipation of faster earnings growth it raises its target price to 855p.
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