Numis rates the pub chain a “buy” with a target price of 155p. The broker recently met with management, and believes the firm’s shares should rise if it can return to growth in one or two years as planned, with flat profit in 2011. Shareholders could also benefit from the firm’s excess cash in the next few years.
Goldman Sachs has upgraded the construction firm to “buy” from “neutral” with a six-month price target of 272.5p, up 18 per cent. The broker believes that a recovery in the commercial construction market, particularly outside London, could help offset uncertainty over public sector projects.
Evolution Securities rates the oil firm “neutral” with a target price of £14.50. The broker views the company’s alliance with a Nigerian production firm as a chance to set up a long-term exploration business in the country with access to local expertise. The $100m deal will not alter short-term forecasts, Evo adds.