Nomura has upped its target price on the B&Q owner from 315p to 350p and maintained its “buy” rating on the stock following full-year results from the company last week. The broker has also increased its 2013 earnings per share outlook by four per cent to incorporate lower tax rates and a stronger view on the development of its Screwfix brand.
Merchant Securities maintains its “sell” rating on the business and technology service company but ups its target price from 70p to 85p on a positive readacross from Accenture’s second quarter results, showing relatively strong growth in Europe. However, the broker remains concerned about Logica’s outlook in the UK and France after lower margins in the second half of last year.
Deutsche Bank reiterates its “buy” rating on the high-street retailer and increases its target price to 3,280p after the company’s full year results came in in line with consensus forecasts. The broker also increases its estimates by 0-5 per cent over the next three years, driven by small operating profit and tax rate changes, but sees risks from the threat of rising cotton prices.