BEST of the BROKERS
AFRICAN BARRICK GOLD
Goldman Sachs has upgraded the FTSE 250 miner to “neutral”, despite saying it is poorly positioned compared to underperformance of peer companies. Goldman yesterday released a note saying that it nonetheless sees a “median upside relative to our mining coverage” and is hence edging up its rating of African Barrick Gold.
BABCOCK
Liberum Capital has downgraded the engineering support services company to “hold” from “buy”, with a target price of 850p. Net debt for the current financial year is up by £3m, Liberum said, while warning over coal prices and adding: “Accounting changes might result in a 12 per cent downgrade to financial year 2014”.
OPHIR ENERGY
Credit Suisse has upped Ophir Energy’s target price to 950p from 680p to take account of its Tanzanian gas discovery. It says the find will increase its gross gas resource base, and puts Ophir on track for a strong drilling programme this financial year. Sees July and Papa well result as next potential catalyst for shares. Reiterates “outperform” rating.