Panmure Gordon rates the security firm as a “hold” ahead of its half year results on 28 August, with a target price at 262p. It recently increased its target price from 236p to 262p. The firm’s defensive characteristics and exposure to emerging markets makes a sub-230p price, an “interesting entry point,” the broker says. It forecasts modest earnings per share growth for the company, reflecting organic growth.
Numis has an “add” rating on the cinema group due to a predicted slowdown in earnings for 2013. The broker says a weak film release schedule next year will hit earnings, but it has upgraded forecasts by two per cent for 2014 due to a step up in expansion plans. It currently has a target price of 260p on the cinema chain, higher than its 233p market price. It lowered pre-tax profit forecasts from £42.2m to £41.7m.
Singer Capital Markets has a “buy” rating on the software business. The broker said the firm offered an “attractive combination of cash returns and solidity of performance” in turbulent macroeconomic conditions. It has a target price of 570p on the stock, ahead of its 535p market price. Trading figures for the first quarter were in line with expectations as was revenue, reflecting an underlying growth in licence fees.