BEST OF THE BROKERS
DIAGEO
S&P Equity Research yesterday raised its 12-month target price for Diageo from 970p to 1,080p ,partly based on good results at Cointreau and Campari. But it kept its “hold” recommendation, saying Diageo’s earnings are holding up but that the stock is at a premium compared to Pernod Ricard, Campari and Constellation.
QINETIQ
Investec yesterday put out a “hold” recommendation on QinetiQ, saying first half results were in line, but that current trends highlighted that some elements of the QinetiQ portfolio are more susceptible to defence budget pressures than the market had previously thought. It still believes growth will create shareholder value.
ABERDEEN ASSET MANAGEMENT
Numis yesterday upped its forecasts for Aberdeen Asset Management for 2010. It said Aberdeen continued to experience net outflows from fixed income but it believed the improving performance in fixed income should further reduce net redemptions during 2010.