To appear in Best of the Brokers, email your research to email@example.com
Liberum has raised its target price from 2,040p to 2,170p and kept its “buy” rating on the back of CLS’ strong results for the first half of the year. The broker has increased its net asset value estimates by two per cent, but sees further upside in the event of continued yield compression.
Panmure Gordon said the recent fall in Just Retirement’s share price following the news of its merger with Partnership Assurance was an overreaction and reiterated its “buy” rating and 225p target price. The broker said a merger will pose challenges such as cultural fit, but these have now been priced in.
Canaccord Genuity has lowered its target price to 4,400p from 5,100p following Randgold’s recent half-year results. The broker said while the results were broadly in line, the downgrade reflects its lowered gold production estimates, as well recent reductions in gold price forecasts.