BEST OF THE BROKERS
DANA PETROLEUM
Evolution Securities has given Dana Petroleum a “sell” recommendation and said that the Korean National Oil Company has tabled a conditional 1,800p offer for full issued and to be issued share capital in Dana. Evo said that the risk for investors could be that if Dana frustrates the Koreans, they could walk away.
EUROTUNNEL
The cross-channel truck market remains depressed, but Eurotunnel continues to
re-take market share, according to Royal Bank of Scotland (RBS) which gives the group a “buy” rating. RBS said that insurance indemnity receipts are stuck but despite this, it thinks Eurotunnel still has headroom in regard to its covenants.
VODAFONE
Citigroup reiterates a “buy” recommendation for Vodafone and said that the acceleration in mobile data revenue is particularly encouraging. Citi said that management has reiterated guidance across the board, and said that it would set out how it intends to accelerate its strategy to drive shareholder value later in the year.