29 Jul 2015 07:36
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Don't have an account? Click here to register.Broker tips: Debenhams, Greene King, Glencore
Thu, 03rd Dec 2015 12:11
(ShareCast News) - Debenhams shares were under pressure on Thursday after Goldman Sachs downgraded the stock to 'sell' from 'neutral', pointing to slowing space growth."As one of the UK general retailers wrestling with the online channel shift dynamic, and in recent times suffering from store-based sales cannibalisation, while approaching the end of its UK space growth plans, Debenhams' earnings growth outlook is modest by European retail standards," it said.Goldman noted around 2% earnings per share growth over 2016/17 versus around 10% for peers.It said the group's Christmas trading statement in mid-January and the interim results in April 2016 should underpin the bank's earnings forecasts and cautious stance on the shares.GS has an 83p 12-month price target on Debenhams. Accounting adjustments and increased synergies will boost Greene King's profits in the medium-term, but not the company's cash-flows, Canaccord Genuity said.That followed the company's announcement that it would take a £325.6m provision to replace its "onerous" £50m lease provision for the +100 pubs which resulted from the March 2004 sale and leaseback from Texas Pacific.That led Parson to revise his forecasts for adjusted earnings per share in fiscal years 2016 and 2017 higher by 7.6% an 4.9%, respectively, to reach 69.0p and 75.7p.He also bumped up his estimate for 2018 adjusted EPS by 3.2% to 80.0p.However, the lion's share of the boost to earnings was solely the result of accounting fair value adjustments with no changes to cash-flow, the analyst emphasised.He left his 'buy' recommendation on the shares unchanged but increased his target price to 1,110p from 1,050p.RBC saw possible short-term catalysts for Glencore, but added that the outlook was 'mixed'.The shares should rally further as the commodities trader unveiled further asset sales and operational improvements, with a 10 December update serving as one potential catalyst, Tyler Broda and Alexandra Slattery said in a research note sent to clients.Indeed, the company was likely to announce more asset sales than had originally been targeted, which would help it to hold on to its investment grade credit rating through 2016 as long as the reference price for copper remained above a $2.10/lb.A credit downgrade to 'junk' was not out of the question, although it would not be the end of the world for Glencore, the analysts added.RBC initiated coverage on the stock at 'neutral' with a 100p target price.
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16 Jul 2015 09:18
BUZZ-Mitchells & Butlers: UK Budget hangover
** Pub chain Mitchells & Butlers under pressure as Deutsche Bank cuts rating on stock to "hold" vs "buy" in the wake of Chancellor George Osborne's Budget which raised the minimum wage ** Stock, down 2.5%, 2nd-top UK midcap faller, taking its post-budget decline to 10%; minimum wage to rise
Read more3 Jul 2015 13:35
FTSE 250 movers: Auto Trader Group surges on broker intitiation, energy stocks lower
Mid-caps edged lower on Friday, with weakness in the oil, mining and telecommunications sectors providing a drag on the market. As of 15:15 BST, the FTSE 250 was trading 0.4% lower at 17,595. Auto Trader Group led the risers as Exane BNP Paribas initiated coverage with an 'outperform' rating, citing
Read more1 Jul 2015 16:19
London close: Stocks rebound as investors digest Greek rumours
UK stocks bounced strongly on Wednesday after hitting a new five-month low the previous day as investors continued to digest the latest news flow from Greece, after Athens became the first developed economy to default on a debt repayment to the IMF. The FTSE 100, which settled at its lowest since 12
Read more1 Jul 2015 13:06
FTSE 250 movers: Serco gains as profit beats expectations, Premier Oil slips on weak oil prices
Mid-caps gained on Wednesday, championed by strong performances in the construction, telecommunications and property sectors. As of 15:00 BST, the FTSE 250 was trading 1.2% higher at 17,740. Outsourcer Serco topped the risers, after first-half profits came in better than expected, although manageme
Read more1 Jul 2015 12:07
London midday: Stocks surge on Greek deal hopes, but uncertainties remain
Decent gains in the banking and travel sectors gave UK stocks a boost on Wednesday as sentiment was buoyed by hopes of a possible bailout deal in Greece. According to reports, Greek Prime Minister Alexis Tsipras will accept all his creditors' bailout conditions that were on the table last weekend, w
Read more1 Jul 2015 11:08
Greene King full-year in line but organic growth lacklustre, says Nomura
Greene King's full-year results are in line, but organic growth is lacklustre, Nomura said in a note. It said adjusted pre-tax profit of £168.5m was in line with its estimate and Bloomberg consensus. The Japanese bank said the year was marked by transition in the pub estate, with dilution from the
Read more1 Jul 2015 08:25
London open: FTSE rebounds after sell-off as Greece defaults
UK stock markets advanced on Wednesday morning, bouncing back after a Greece-inspired sell-off pushed the FTSE 100 to a new five-month low the previous session. As expected, Greece defaulted on its €1.6bn repayment to the IMF on Tuesday night, with the institution officially declaring that Athens wa
Read more1 Jul 2015 07:47
London pre-open: Stocks to bounce despite Greek default on IMF loan
UK stocks are expected to bounce off a five-month low on Wednesday despite Greece becoming the first developed economy to default on a repayment to the IMF. City sources predict the FTSE 100 will open 42 points higher than Tuesday's close of 6,520.98, its lowest finish since 12 January. The IMF on
Read more1 Jul 2015 07:15
UPDATE 1-British brewer Greene King's full-year profit beats expectations
(Adds details, background, share movement) July 1 (Reuters) - British pubs operator Greene King Plc reported a better-than-expected full-year profit and said revenue from its retail business crossed 1 billion pounds for the first time. Greene King, which operates 1909 pubs including
Read more1 Jul 2015 07:07
Greene King posts record retail revenue but full-year pre-tax profit drops
Pub group Greene King reported record retail revenue in its full-year results, although profit fell on the back of lower like-for-like sales and the impact of the disposal of 275 pubs to Hawthorn Leisure. Retail revenue for the 52 weeks to 3 May 2015 came in at £1bn, up from £963m last year, while t
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