IAG was in focus on Friday after the revelation that Qatar Airways had purchased a 9.99% stake in the airline, though broker Liberum reckons that a full takeover of the Anglo-Spanish group is "highly unlikely".The broker said a bid for the whole company is not likely to happen "due to the ownership restrictions on non-EU shareholders which are required to ensure that IAG's airlines retain their traffic rights".Hargreaves Lansdowne Stockbrokers has applauded BT's strong cash generation and plans to cut its pension deficit, though competition in the telecoms sector is of some concern.The broker noted that the current consolidation happening in the wider sector means that competition will stay "ferocious" and ongoing talks to secure Premier League TV rights "could prove costly". "Even so, BT clearly means business and is flexing its corporate muscles successfully. The shares have risen 16% over the last year [...] but appetite remains undiminished with the market consensus still coming in at a 'buy'," it said.UBS has hiked its target price for Imperial Tobacco by 15%, saying that it sees the prospect of a "significant step-up" in cash flow at the cigarette company. The bank lifted its 12-month target for the shares from 2,900p to 3,350p and reiterated a 'buy' rating.It believes the proposed acquisition of US assets from Reynolds and Lorillard will complete in the second quarter of this year and "a combination of greater leverage, cheap debt (a coupon of 2.35%) and tax shield means this acquisition should be very accretive to Imperial's cash flow".
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