Evolution Securities gave British Land a “neutral” rating after its investor day, in which it noted the lack of a clear roadmap. The broker acknowledges the quality of the firm’s portfolio and excellent balance sheet but said a lack of clarity prompted the rating. It gave a target price of 600p.
Collins Stewart maintained its “buy” rating on Credit Suisse, updating its target price to CHF43. The broker said the Swiss bank should be the biggest winner from UBS’ recent woes, although it has also factored in a hit to earnings owing to a German tax-case settlement.
Numis advised investors to “hold” 2ergo stock, slapping a target price of 70p on the stock. It said key risks stem from execution and cash but believes that if management can deliver on their plans it could reach 120p by 2013. It said the impact of regulatory changes, were relatively severe.