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Analysts at Liberum have reiterated a “buy” rating for Trinity Mirror despite the firm losing its appeal against the level of phone hacking damages awarded against it and increasing the level of provisions by £13m to £41m. Liberum reckon this is still under what the share price has already factored in. This and a trading update forecasting full year results marginally ahead of expectations mean analysts have a target price of 275p from 162p currently.
Chemical company Elementis has been given an “add” rating by analysts at Numis, with a target price of 253p, down from 271p before. Shares are currently trading at around 221p. The firm has released a profit warning, stating full-year result are now expected to be at the bottom end of previous guidance as a result of challenging trading conditions, though end of year cash balance will be up on last year.
Peel Hunt has pushed online fashion retailer Asos back on to the “buy” list, crediting a strong product offering at compelling prices. Target price is now 4,000p, from 3,335p currently. Revenue forecasts for this year look conservative, analysts say. They expect a strong peak trading performance, with the share price likely to follow an accelerating top line. Analysts are positive on the retail market overall, saying “the consumer is happy, disposable incomes are rising”.