Investec Securities kept its recommendation for Forth Ports as “buy”. Investec says the ports group should deliver robust business in a challenging economic environment, and praised the group’s resilience, thanks to a high level of contract cover and spread of commodities handled. The target price is 1,500p.
Collins Stewart reiterated its “buy” recommendation for property specialists Rightmove. The internet business has spent £5.5m over the past two weeks buying back one per cent of its shares. Collins Stewart believes another £10m could be spent this year, and that fears Google will compete with Rightmove are misplaced.
Ambrian advises that Topps Tiles has withdrawn support and funding for its Dutch subsidiary. The financial impact on Topps will be minimal, with just a £1m one-off non-cash write-down. Ambrian has increased pre-tax profit forecasts and raised its target price from 127p to 150p. Its recommendation is “buy”.