BEST OF THE BROKERS
WM MORRISON
Collins Stewart upgrades Wm Morrison to a “buy” with a new target price of 300p. Cites Morrison’s valuation relative to the European food retail peer group, strength of the balance sheet and its many strategic opportunities as key positives. Believes shares offer good value relative to peers.
ATOS ORIGIN
S&P maintains its “sell” recommendation on Atos Origin but raises its 12-month target price from €26 to €30. Expects sales to rise as well. However, S&P cuts future earnings per share forecasts by five per cent citing its cautious medium-term view on Atos’ recovering end markets.
PENDRAGON
Brewin Dolphin maintains its “buy” recommendation and says the shares are good value at their current price. Pendragon has impressive after sales initiatives and a promising outlook thanks to effective internet marketing, usage of empty outlets and monthly service plans, it says.