Panmure Gordon rates the engineering group as a “buy” and reduces its target price from 1320p to 1250p, based on a revision of its earnings estimates over the next two years. The broker sees less growth in its fluid power division than previously thought, and reduces 2012 and 2013 forecasts by four per cent.
Collins Stewart rates the UK oil explorer as a “buy” and lowers its target price from 540p to 450p. The company’s first half results have not altered the broker’s view of Premier, and it sees Friday’s sell-off as overdone. Premier has around $1.3bn of funding available, of which the broker says it will need less than $0.5bn to fund growth to 2015.
Investec rates the haulage group as a “buy” with a target price of 176p, and formalises its earnings adjustments following recent results from the company. The brokers sees full-year pre-tax profits unchanged at £40m, but the recent placing means earnings per share are pushed down to 8.9p. Full-year profits are forecast at £52m.