BEST OF THE BROKERS
ASSOCIATED BRITISH FOODS
Evolution Securities has downgraded Associated British Foods (ABF) from “buy” to “neutral”, as it sees limited upside to 2011 earnings and believes the gross margin pressures at its Primark unit is beginning to build. However, Evolution remains optimistic about the company’s long-term prospects.
GREAT EASTERN ENERGY
Arden Partners reiterates its “buy” rating on Great Eastern Energy Corp (GEEC) due to the company’s unaudited management numbers showing revenue increasing quarter-by-quarter from the last quarter in 2009 to over $1m per month in June 2010. Arden’s (GEEC) target price is. 757p per share.
FENNER
Collins Stewart rates Fenner as a “buy”. It says its recent statement highlighted a strong profit recovery in the Advanced Engineered Products (AEP) division, as well as significant operational gearing opportunities in this division.
Collins Stewart has a target price of 237p a share for Fenner .