Panmure Gordon has cut the bookmaker from “buy” to “hold” on valuation grounds. The broker keeps its target price at 195p, and believes that much of the firm’s turnaround potential has been priced in.
Westhouse cut its rating for the publisher from “buy” to “neutral” following a 15 per cent rise in the company’s share price over the last month, which the broker thinks is due to bid speculation. It keeps its target at 470p.
Numis expects the support services group’s purchase of The Advantage Heathcare to add 2.5 per cent to 2013 earnings and provide strategic opportunities. Numis has an “add” rating and a target of 426p.