S&PEquityResearch has reiterated its “hold” recommendation and target price of 740p on the satellite broadcaster after a stronger-than-expected set of Q results. Group revenues were up 15 per cent at £1.5bn. The broker also believes News Corp. could up its initial offer for BskyB from 700p per share.
Numis has kept its rating of Inchcape at “hold” despite a better than expected Q3 trading update. Inchcape did well in Hong Kong and Australia but Singapore continued to drag. The broker says it remains cautious about the outlook for 2011 with tough trading expected in the UK, Greece, Belgium and Singapore.
Evolution Securities has stayed “neutral” on Nestlé despite it maintaining strong Q3 growth against tougher competition. The broker says the strength of the Swiss franc has led it to downgrade its 2010 and 2011 EPS forecasts by 2 per cent and 4.8 per cent respectively. It adds the current shares look fair value.