Liberum Capital yesterday upgraded its fair value for the media company with 10p to 155p and reiterated its “buy” recommendation. According to the analyst, increasing efficiencies in the company and revenues in non-TV advertising will spill over to the budget sheets, and ITV is likely to “outperform” in 2013.
BIG YELLOW GROUP
UBS initiated coverage of the provider of self-storage space with a “buy” recommendation and a target price at 395p yesterday. Big Yellow Group’s strong presence in the capital and southern regions of the UK “enhances resilience”, and the analyst predicts occupancy to rise from 67 to 76 per cent, delivering “potentially high returns.” UBS sees attractive returns in UK and US real estate investment trusts such as Big Yellow.
Text Nomura has upgraded the oil explorer from “reduce” to “buy” and has increased its target price to 500p. The analyst sees an attractive entry point versus the firm’s core asset value, noting that risks on short-term developments such as its stake in Rockhopper’s Falklands fields appear to already be priced in. This year, Nomura sees potential for greater cash generation and even a dividend policy.