Rachael Applegate at Panmure Gordon has downgraded the builder to “hold”, citing the stock’s 100 per cent rise this year. She says “the rating is about right”.
Matthew McEachran at N+1 Singer has increased his price target by 10 per cent to 135p, and says “buy” after a “comprehensive, confident” presentation from chief executive Michael Sharp.
Victoria Prior at JP Morgan has lowered her 2013 operating profit estimate for the card insurer by a third to £19m. However progress with a FSA investigation into mis-selling is positive.