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Liberum downgrades Pets at Home, upgrades Supergroup post Brexit

Tue, 05th Jul 2016 09:15

(ShareCast News) - Liberum revisited its stance on UK general retailers on Tuesday in light of the more uncertain outlook following the vote to leave the European Union. The brokerage said it was more cautious on the generalists, given their UK exposure and in many cases high exposure to US dollar inputs.On the other hand, it highlighted a preference for specialists who are relatively more defensive and those that still have margin upside, are generating a superior rate of return on capital employed and have strong balance sheets.Liberum's key 'buy' is Boohoo, which it likes for its positive outlook and strong international growth and Jimmy Choo for its brand and positive forex dynamics.Other key buys are B&M for its strong market position and high cash generation, and Hotel Chocolat thanks to its strong brand, market position and margin upsideThe brokerage upgraded Supergroup to 'buy' from 'hold' on valuation grounds, noting the stock is trading some 6% below its long-term average.It cut Card Factory to 'hold' from 'buy' saying the stock was up with events on valuation and highlighting FX headwinds pressure in outer years.Liberum downgraded its stance on discount retailer Poundland to 'sell' from 'hold'. It said the shares were underpinned by a potential bid but in the event this does not happen there is 40% downside risk.Finally, it double downgraded Pets at Home to 'sell' from 'buy' citing a more volatile top line and margin pressures."Reflecting on the prelims and Brexit risks, we believe near-term headwinds have strengthened. FY16 performance suggested that revenues may be more volatile than we had expected and margin expansion has likely been pushed further out."We still acknowledge the company's strong market shares, improving multi-channel offering and the longer-term growth opportunity in Services. However, we see further downside risk before the shares make any substantial gains."At 0945 BST, Pets shares were down 8.6% to 210.29p, Card Factory was down 5.5% to 305.60p, Supergroup was off 0.9% at 218p and Poundland was down 1.4% to 200p.
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11 Jan 2017 09:36

BROKER RATINGS SUMMARY: Morgan Stanley Upgrades BT To Overweight

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21 Nov 2016 19:55

Monday broker round-up

(ShareCast News) - Randgold Resources: UBS reiterates buy with a target price of 9750p. AA: Goldman Sachs reiterates buy with a 370p target. Jimmy Choo: Barclays stays at equal-weight with a 140p target. Esure: Barclays reiterates overweight with a 247p target. Easyjet: UBS keeps at buy with a 11

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18 Nov 2016 07:41

Jimmy Choo revenue grows, on track for full year

(ShareCast News) - Luxury retailer Jimmy Choo reported revenue growth for the second half on Friday and said it was on track to deliver full-year underlying profits in line with expectations. In an update on trading since the end of June, the company said it was seeing revenue growth despite the con

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9 Oct 2016 16:22

Sunday share tips: Provident Financial, Jimmy Choo

(ShareCast News) - The top brass at Provident Financial did nicely for themselves in the wake of Brexit, picking up stock in the doorstep lender on the cheap. Chief Peter Crook, Vanquis bank president Chris Sweeney and corporate affairs boss Nick Boakes bought into the shares after they lost 26% of

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23 Sep 2016 09:39

Broker tips: Persimmon, Jimmy Choo, ASOS

(ShareCast News) - Housebuilder Persimmon and its peers got a boost on Friday as Liberum upgraded the stock to 'buy' from 'hold' and lifted price targets across the sector as it took a more positive view. "We have upgraded estimates across our coverage as 2016 trading is much better than we feared i

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23 Sep 2016 08:44

BofA ML upgrades Jimmy Choo to 'buy'

(ShareCast News) - Jimmy Choo got a boost on Friday as Bank of America Merrill Lynch upped the stock to 'buy' from 'neutral' and lifted the price target to 150p from 130p. It pointed out that although the stock offers the highest estimated earnings growth in the luxury sector, it trades at a 30% dis

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13 Sep 2016 06:53

Tuesday newspaper round-up: Jobs boost, Brainard caution, recovery 'mirage'

(ShareCast News) - Britain's employers have refused to panic following the referendum vote, but new jobs are likely to become increasingly scarce as concerns over Brexit talks undermine business confidence. Recruitment agency Manpower said that, on the surface, the EU referendum had done little to d

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9 Sep 2016 08:53

RBC reiterates 'outperform' rating, lifts target price on Jimmy Choo

(ShareCast News) - RBC Capital Markets reiterated an 'outperform' rating on Jimmy Choo and raised its target price to 160p from 150p as the broker upgraded its earnings forecasts on the luxury shoe maker. Following Jimmy Choo's first half results on 25 August, RBC believes there are two positive cha

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9 Sep 2016 08:31

BROKER RATINGS SUMMARY: Goldman Takes Centrica And Burberry Off List

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8 Sep 2016 16:41

Director dealings: Jimmy Choo CEO takes some profits

(ShareCast News) - Jimmy Choo chief executive Pierre Denis sold £400,000 worth of shares in the shoe maker a few days after interim results sent the shares strutting to their highest level since late April. Denis, who has been CEO since July 2012, sold 100,000 shares at a price of 125.625p apiece, t

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7 Sep 2016 10:31

Wednesday broker round-up

(ShareCast News) - Centrica: Goldman Sachs downgrades to sell with a target price of 213p. Ashmore: Barclays maintains underweight with a 270p target. Aviva: UBS upgrades to buy with a 505p target. Polymetal: Berenberg reiterates buy with a 1200p target. SSE: Goldman Sachs keeps at neutral with a

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2 Sep 2016 16:10

DIRECTOR DEALINGS SUMMARY: Jimmy Choo Non-Executive Buys Shares

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30 Aug 2016 16:24

Directors dealings: Jimmy Choo boss picks up more stock

(ShareCast News) - Jimmy Choo boss Pierre Denis added to his stake in the luxury shoe and fashion accessories-manufacturer after excercising an option worth a total nominal consideration of £1.0m. Dennis excercised options over 439,801 shares of 100p each, while simultaneously selling 206,740 shares

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25 Aug 2016 08:48

Jimmy Choo first half boosted by Asia, men's offering

(ShareCast News) - Luxury shoe retailer Jimmy Choo reported a jump in revenue and operating profit for the first six months of the year thanks to strong growth in Asia and a good performance from the men's category. For the six months to the end of June, revenue was up 9.2% at reported currency to £

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25 Aug 2016 06:44

Jimmy Choo Profit Hit By Finance Costs, But Revenue Rises

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