EVG.L Share News (EVG)

Prime Markets has suggested buying chemicals group Johnson Matthey, saying that Tuesday's trading statement represents an attractive entry point in the short and long term for investors.The company, focused in catalysis, precious metals, fine chemicals and process technology, said that it continued to make good progress in the first quarter, with adjusted pre-tax profits up by 19% to £98.2m, "principally due to higher demand for products and operational leverage," noted head of dealing Richard Curr."Now at an attractive entry point as the shares bounce off the all important 200-day moving average line, there is a short term momentum trade opportunity off the back of today's statement to upper resistance levels up to 2,100p over the next few days."Prime Markets gives the group a 2,123p target price.After raising its earnings forecasts for plastics group Victrex, UBS upgraded plastics the firm to neutral, from sell, saying that it has strong growth and profitability prospects.The broker notes that metal replacement is becoming increasingly important as companies seek alternatives which are recyclable, reduce weight and fuel consumption: "Victrex PEEK polymers satisfy these criteria."UBS raised its target price from 1,320p to 1,500p.Peel Hunt reiterated its buy recommendation on investment house Evolution Group as the company announced the potential acquisition of BNP Paribas Private Investment Management."The earnings mix of the group is shifting towards being led by the Wealth management division (we forecasts 52% of revenue from that source for 2011 up from 47% as at 2010). This acquisition only adds to this proportion and as this continues the group should begin to trade on a higher multiple," said analyst Henry Biddle.A target price of 86p was kept.BC