LAD.L Share News (LAD)

Goldman Sachs raised its price targets on BP to 376p from 364p and $34.5 from $33.1, respectively, following the company's settlement over the 2010 Gulf of Mexico oil spill, but retained its 'sell' rating on the stock saying the fundamentals remain challenged.However, it noted that while this will settle the major elements outstanding, the agreements do not cover the class action settlements with the Plaintiffs' Steering Committee, or claims by individuals and businesses that opted out of the 2012 settlements.JPMorgan Cazenove upgraded BP to 'overweight' from 'neutral' and raised the price target to 475p from 450p following the company's unexpected settlement on Thursday over the 2010 Gulf of Mexico oil spill."Whilst our estimate of remaining Macondo related liabilities falls by less than $2bn (only 7p/share), we believe that by bringing unexpectedly early and essentially complete closure to the key tail risks to this tragic event BP becomes more investable to some institutions and, in a challenged space, is thus elevated as a sector relative preference," it said.JPM said the deferred payment schedules combined with tax shelter make only a very manageable dent on BP's cash flow and balance sheet.Shares in FirstGroup fell 3% after UBS downgraded the stock to 'sell' from 'neutral', pointing to the recent strong rally in the share price to a level above its fair value.With the most recent results, FirstGroup has shown that its margins are improving and heading towards the targets set in 2014, the Swiss bank said.Although this should help drive cash generation higher, in the near term, UBS expects the company's margins to remain below that of peers in the key areas of School Bus and UK regional bus and said that as a consequence so too will free cash flow.Canaccord said it expected a positive picture from online gambling site 888 Holdings next month, and upgraded its rating from 'hold' to 'buy.' Analyst Simon Davies raised his price target from 166p to 176p and said while earnings before interest, taxes, depreciation, and amortisation would be down by 25%, this was only due to VAT and gambling taxes.Exane BNP Paribas reiterated its 'outperform' rating on gambling house Ladbrokes and lifted its target price 8% from 125p to 135p off its recent strategy update.The rating is conservative and is broadly in line with the current market price, Exane said in a note to clients.Analyst Roberta Ciaccia said while no figures were given at the company's recent update, it was clear management wants to make the retail estate more competitive.UBS upgraded BAE Systems to 'buy' from 'neutral' but cut the price target to 510p from 540p.It said the recent weakness in the BAE share price was caused by uncertainty around the future of the Williamstown shipyard and the Eurofighter Typhoon programme, as well as the pending Strategic Defence and Security Review (SDSR).However, it upgraded the stock, saying that even after de-risking its forecast, the valuation is attractive. Also, "in times of uncertainty we find BAE's independence from the economic cycle attractive."