TATE & LYLE
Evolution Securities maintains a “buy” recommendation for Tate & Lyle and has upped its target price to 560p. Evo said Tate is a compelling long term turnaround story and that new boss Javed Ahmed appears to have all the credentials to tackle Tate's issues. Evo said the added spice is that Tate could be a bid target for Bunge.
Panmure Gordon repeated its “buy” recommendation on the sportswear chain, citing clear evidence of a recovery in operational performance. It said the start of the World Cup this week is likely to be the catalyst that the share price needs. The 2012 Olympics and plans for inward investment make for an attractive long-term prospect.
Collins Stewart has a cautious outlook on recruitment company SThree, but maintains its “buy” recommendation with a target price of 350p. Growth remains below expectations due to a subdued jobs market, and Collins is also reviewing its profit forecasts following the recent uncertainty over new public sector jobs.