UBS has downgraded the telecommunications testing company from “buy” to “neutral”, cutting its target price from 180p to 155p. This reduction follows a recent profit warning from F5 Networks, which pointed to weakness in the ethernet market in North America. UBS has lowered revenue forecasts for 2013 onward by five per cent, and expects the firm to take $99.5m in revenue and $15m in Ebit this quarter.
Panmure Gordon has reviewed its forecasts for the property developer, shifting its target price from 173p to 175p, and maintaining its “hold” recommendation. The firm suggests that trade is in line with other housebuilders, and that the company has good site growth. Panmure Gordon has adjusted its pre-tax profit prediction from £51m to £54.7m for 2013, and from £71.3m to £76.8m by the end of 2014.
Canaccord Genuity has revised the target price for the restaurant operator from 440p to 540p, leaving its “buy” rating unchanged. The bank observes continued growth potential, and predicts a potential upside in the share price of 17 per cent, as well as a possible return of £100m to investors. Canaccord thinks firms like Restaurant Group and Prezzo will enjoy strong like-for-like growth as casual dining continues to expand.