Best of the Brokers for 4 November 2015

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Canaccord Genuity has raised its target price for the stock from 1,627p to 1,847p and reiterated “buy” following a visit to SuperGroup’s head office this summer and ahead of the retailer’s half-year results tomorrow. In a bullish note entitled “everywhere you turn is opportunity”, the broker said the company is carrying out self-help measures to drive greater efficiencies while at the same time continuing to seek out expansion opportunities, making it well placed for growth.

 

Nomura has cut its target price from 2,800p to 2,698p on the back of Intercontinental Hotels Group’s third quarter update last month. The broker highlighted that the company, which is at the centre of takeover speculation, trades at a 15 per cent premium to its peers and 24 per cent premium to its long-run average. The broker  expects potential capital return to underpin the share price  but with little prospect of a re-rating, its has retained its “neutral” rating on the stock.

 

Panmure Gordon has released a note regarding Canadian listed biotech company ProMetic Life Sciences following Shire’s agreed acquisition of a similar US drugs rival Dyrax yesterday. The broker said that with Shire buying Dyrax for least C$5.9bn,  ProMetic’s market valuation of C$1.2bn looks harsh in comparison, given that the company is carrying out six clinical trials with combined potential sales of over C$10bn annually. It has kept its “buy” rating and target price of C$4.26.