Numis Securities increases its target price to 640p from 582p but cuts the equipment rental group to “hold” from “add”. The firm’s pre-tax profit last week came in £12m above the broker’s forecasts at £247m. But Numis is concerned that a cyclical recovery could lead to a decline in capital returns.
RBC upgrades its target price for the airline to €8.75 from €8.00 and reiterates its “outperform” rating following the £10bn deal last week for 175 new Boeing planes. The broker said Ryanair has increased medium term growth potential, driven in part by relatively low operating costs.
Espirito Santo maintains its “buy” recommendation for the specialist lender and raises its target price to 393p from 344p. The broker increases its growth forecast for buy-to-let mortgage origination for the next two years as the market recovers and the firm adds warehouse space.
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