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Peel Hunt rates the clothing brand “hold” with a target price of 650p ahead of an interim management statement on Thursday. The broker expects to see full-year sales up 16.2 per cent to £365m, driven mainly by a whopping 23 per cent rise in wholesale. Peel Hunt is also looking for signs of continued momentum going into the 2014 financial year.
LEGAL & GENERAL
UBS rates the insurance and investment group “neutral” and has raised its target price from 145p to 162p following forecast-beating quarterly sales last week. The broker points out a focus on direct investment at the firm, which could increase risk within L&G’s portfolio but reflects a drought of solid yields in the market. UBS has raised its target price to reflect rising net asset values.
Numis has an “add” rating on the convenience foods manufacturer and has raised its target price from 105p to 120p. The firm is due to report first-half results on 21 May, and the broker is predicting modest earnings growth in spite of the knock-off effects of the horsemeat scandal and a cold winter. Greencore’s recent acquisitions are expected to have boosted sales, Numis adds.