BEST of the BROKERS
PRUDENTIAL
JP Morgan Cazenove has maintained its “underweight” rating on Prudential and a target price of 698p ahead of the firm’s first quarter sales announcement tomorrow. The broker predicts its sales to be weak in the US but remaining strong in Asia.
INTERNATIONAL AIRLINES GROUP
Nomura has maintained its “buy” stance on the British Airways owner, despite forecasting a first quarter operating loss of €229m versus a consensus of €230m when it reports on Friday. The bank expects IAG to give details on the speed of turnaround of the newly acquired BMI.
WEIR GROUP
Panmure Gordon has kept its “hold” stance and target price of 1630p on Weir, which posts its first quarter results on Wednesday. The broker warned that Weir may have “to fight fires on two fronts”, with the imminent collapse in the US pressure pump market and the threat of a freeze in miner capex.