Execution Noble rates the online gambling group a “hold” with a fair value price of 42p. The broker is encouraged by the firm’s quarterly update, with the slowdown in revenue decline a particular highlight. However, 888’s lack of scale or unique features in any of its areas of operation puts the firm at a disadvantage, the broker adds, making peers PartyGaming and Playtech more attractive picks.
JOHN WOOD GROUP
Numis has raised its rating for the oil and gas support services group to “add” from “hold”, with a target price of 501p. A recent flurry of contract awards and increased visibility has caused the broker to take a more optimistic view of the firm. It has upgraded its 2010 earnings forecast by eight per cent, and by nine per cent for 2011, bringing the broker close to consensus estimates.
CAPITAL SHOPPING CENTRES
Seymour Pierce rates the retail real estate firm a “sell” with a target price of 305p. The broker notes that Capital Shopping Centre’s recent interim management statement was positive, and that occupancy and footfall have edged higher in the last quarter. However, the broker adds that uncertainty in the sector means the stock does not represent good value, and that the group would be better placed if it raised equity