Execution Noble rates the support services firm a “buy” with a fair value price of 900p. The broker says the firm’s management is confident in long-term demand for infrastructure, but adds that near-term growth prospects remain uninspiring. Execution predicts revenue of £1.54bn in 2011, a rise of 11 per cent on this year.
UBS retains a “neutral” rating on the housebuilder with an upgraded 12-month target price of 131p. The broker has revised its earnings per share forecast up by 39 per cent for 2011, on the back of an increase in gross margins. UBS says the company is likely to buy back shares as planned once the discount to net asset value widens.
Brewin Dolphin has upgraded the farming technology firm to “hold” from “reduce” with a 12-month target price 703p, following full-year results that were ahead of forecasts. However, the broker has reined back its 2011 pre-tax profit forecasts by two per cent, pointing to uncertainty in the livestock sector and weak exchange rates.