Panmure Gordon rates the bookie as “buy” following the company’s confirmation that its head of trading Jon Thompson has been dismissed pending appeal. Panmure said this is clearly disappointing news but “this cloud may have a silver lining” if superior traders can be recruited.
Investec recommends “hold” for the tech company’s stock and has upgraded its target price from 84p to to 105p, the current offer price from CGI Holdings. Investec said a counter bid cannot be fully ruled out, but “on balance we see it as unlikely”.
Numis has changed its rating of the price comparison website from “sell” to “reduce”, saying the acquisition of Moneysavingexpert looks sensible financially. “However, the elephant in the room remains Google”, which will still account for much of the company’s profit and leaves little room for mistakes.