UBS expects that British Airways’ (BA’s) strong yield recovery will continue until the end of the year after the airline showed a strong yield delivery in the first quarter, up 13.5 per cent, and surpassing European rivals. UBS said that BA is trading well post its year-end results and continues to rate the shares a “buy”.
LEGAL & GENERAL
Legal & General (L&G) has been upgraded by JP Morgan Cazenove from “underweight” to “neutral” as its investment management business is currently performing well and is seen by JP Morgan as a valuable asset. Along with the international dividends, it should be more than funding the total group dividend, JP Morgan believes.
Deutsche Bank has upgraded Petroplus to a “buy” rating after the bank said that it sees value in the utility giant’s stock. This rating comes despite a 32 per cent plummet in Petroplus’ stock, which has hit an all-time low since the group’s second quarter results. Deutsche Bank said that it sees no obvious reason for the earlier fall.