THE RESTAURANT GROUP
Evolution Securities has initiated coverage of The Restaurant Group (RTN) with a “buy” rating. Evolution said the group’s earnings should double in the next 10 years – five years under its bull case. While the near–term outlook remains uncertain, according to Evolution, RTN’s strong cash generation and trading resilience reassure.
Aveva recently reported robust full-year results, according to Royal Bank of Scotland (RBS) with management pointing to improving market conditions. RBS said that management has announced accelerated investment and two new acquisitions and thinks this should reinvigorate growth. RBS stays at a “buy” recommendation.
Petroplus, the Switzerland-based refining business is well placed to take advantage of recovery, said Nomura, which gives the group a “buy” rating. Margins have seen a marked upward improvement through the second quarter, according to Nomura, which is consistent with its view that the sector will enjoy a cyclical recovery.
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