BEST OF THE BROKERS
UBS rates the safety equipment group “sell” with a target price of 325p. The broker holds mixed views about the firm’s recent full year results, with profits enjoying a boost thanks to acquisitions but underlying figures stagnating. UBS expects Halma to make £125m of M&A deals this year before it can justify its current rating, which is at risk on the firm’s current growth momentum.
Nomura rates the agricultural group “buy” with a target price of SFR370. The broker was impressed at the company’s recent capital market day, where the firm was convincing in its plan to integrate seeds and crop protection platforms. Nomura expects robust sales growth on the strength of Syngenta’s current product range and hopes to see increased technology adoption across Asia and North America in the coming years.
Arden Partners rates the retail group “buy” and has trimmed its target price from £17.25 to £16. The broker thinks the group slightly missed forecasts in its update on Monday, and has pruned its retail sales growth from 56 to 50 per cent for the year. Arden Partners now expects a £70m pre-tax profit this year but maintains that SuperGroup’s share price still drastically undervalues the fast-growing company.