After management gave a confident presentation to Nomura earlier this week, the broker rates the insurance group as a “buy” with a target price of 359p. Nomura says that the impact from catastrophes in 2011 has been a surprise, but future volatility can be limited by managing risk exposure. It also says comments on capital were comforting, and sees Amlin as well placed to take advantage of the positive rates outlook.
Goldman Sachs upgrades the electronics group from sell to neutral with a target price of 170p, including an M&A weighting in its pricing to reflect the potential for a possible sutior to reapproach Laird in the next 12 months. Following chief executive Peter Hill’s departure last week, and closure of its handset antenna business, the broker sees the changes as providing impetus for renewed interest in the business as an investment case.
Ahead of results due on 5 December, RBS rates the travel company as a “buy” with a target price of 300p. The broker says TUI’s results have been overshadowed by trouble at Thomas Cook, but sees the rival’s woes as positive and potentially game changing. It says TUI has no other credible competition in the UK, and could benefit from winning market share, but also from the opportunity to secure new high-quality accommodation.