BEST OF THE BROKERS
HUNTSWORTH
KBC Peel upgraded Huntsworth to “buy,” after the firm said the economy in which it is trading is significantly better than at the turn of the year. The broker maintained its numbers, with a target price of 75p. While Huntsworth’s rebranding process well underway, the broker notes increased confidence in existing forecasts.
DIMENSION DATA
Altium Securities retained its “buy” rating for Dimension Data and edged its target price up to 95p from 90p. The broker’s upgrades were based on a combination of the company’s faster than expected progress in gross margin progression, the expectation of continued stabilisation in network technology spending and favourable currency movements.
ENTERPRISE INNS
Citigroup reduced Enterprise Inns’ target price from 110p to 100p and maintained its “sell” rating as the company’s results for the 2009 fiscal year have led the broker to take a more aggressive view, reflecting the impact of likely pub disposals and possible sale and leaseback transactions. The broker reduced earnings per share forecasts by 17 per cent for the 2010 fiscal year.