Seymour Pierce rates HSBC a “buy” with a target price of 800p. Its buy case is built on the value of customer deposits and revenues from the circulation of global trade flows. It says the group has a competitive advantage in its international retail banking customer proposition and should benefit from trends in global trade.
Evolution Securities said Britvic’s profit was in line with its forecasts when the drinks maker announced results last week. The broker notes that management was cautious on 2011, but remains a bullish buyer with a target price of 525p. It says the firm’s “growth defensive attractions” are being underpriced.
Numis rates Betfair a “buy” with a target price of 1600p, after the US?state of New Jersey approved the introduction of exchange horse race betting. The broker says Betfair accounts for the majority of online horse race betting in the UK, and sees no reason why it couldn’t become a major player in the US.