Panmure Gordon has raised its target price for Galliford Try from 770p to 800p and maintained a “hold” rating on the stock. The housebuilder and construction firm is set to report half-year results this month. Panmure said it expects these will show stable year-on-year sales rates. The broker said as a result it is upgrading forecasts in anticipation of what it expects will be “a stable to positive Spring selling season”.
Espirito Santo yesterday upped its target price for Supergroup from 300p to 585p after the retailer posted upbeat results for the Christmas trading period last week. But the broker said it still has reservations about the sustainability of SuperGroup’s profits and that the group may need to spend more on infrastructure to support rapid growth in the UK and overseas. Espirito has kept its “sell” rating as a result.
N+1 Singer has downgraded RWS Holdings from “buy” to “hold” following its strong share price performance and kept its target price of 600p. The broker said the intellectual property support that 2013 is set to be a strong year for the group. N+1 Singer said the medium term outlook remains attractive and it also continues to believe the group could be an attractive acquisition target.