Broker Numis expects Page to deliver another strong trading performance during the third quarter, with good performances from the mature European economies and high growth once again for the emerging markets. However, it says macro sentiment is likely to dominate share price sentiment in the short-term and lowers its 2012 forecasts. It maintains its “buy” rating and attaches a target price of 450p.
Evolution Securities says Circle’s interims highlight its excellent progress in production, revenues and profits. The Broker says Circle can look forward to further progress in 2012, with the boost to cash flow providing resources to fund exploration. Higher risk/high reward exploration offshore Oman is likely to be funded through a farm-out. The broker rates Circle as “buy” and attaches a target price of 100p.
Northland says May Gurney is living up to its promise as one of the more dependable businesses in the support services sector, with trading again proving strong and the outlook once again coming in ahead of market expectations. Despite the turmoil apparent in world markets and the threat of another recession, May Gurney continues to stick to its tried and tested business model which is delivering results. It says “buy” with a target of 320p.