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Broker Tips: BP, FirstGroup, 888 Holdings, Ladbrokes, BAE Systems

Fri, 03rd Jul 2015 11:30

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."

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17 Mar 2016 16:17

Dividends Calendar - Week Ahead

16 Mar 2016 14:20

Ladbrokes, William Hill Up On Changes To Remote Gaming Duty Rules

16 Mar 2016 14:04

Shares in UK gambling groups rise as no new taxes unveiled in budget

LONDON, March 16 (Reuters) - Shares in British gambling companies such as Ladbrokes and William Hill rose on Wednesday, with traders citing relief that the British budget did not unveil any strict, new taxes on the sector. "No tax hikes, so positive for the sector," said Securequity sales

13 Mar 2016 15:18

Sunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters

(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda

7 Mar 2016 20:40

Soccer-Leicester fan accepts 72,000 pounds offer on 5,000-1 bet

LONDON, March 7 (Reuters) - An anonymous gambler has pocketed 72,000 pounds ($102,715) after cashing in on a 50-pounds bet he wagered at the start of the season on Leicester City winning the Premier League at odds of 5,000-1. The Leicester fan decided to take the offer from a British bookma

4 Mar 2016 08:26

UBS downgrades William Hill amid increasing competition

(ShareCast News) - William Hill was under the cosh on Friday after UBS downgraded the stock to 'sell' from 'buy' and slashed the price target to 365p from 410p as it pointed to an increasingly competitive backdrop. "We believe that, with consolidation in the industry, and with a re-vamped Ladbrokes

3 Mar 2016 08:10

Ladbrokes Says Gala Coral Posts Net Revenue And Earnings Growth

3 Mar 2016 07:37

Thursday newspaper round-up: National Grid, Rolls-Royce, bookmakers

(ShareCast News) - The energy regulator Ofgem is to be handed sweeping new powers to manage the country's electricity supplies, switch off factories and request emergency back-up generation, under energy market reforms being considered by Whitehall. Documents seen by The Times show ministers are con

2 Mar 2016 16:46

UPDATE 1-Cruz gains in online betting, Trump still Republican favorite

(Adds Ladbrokes odds) March 2 (Reuters) - Ted Cruz's Super Tuesday victories in his home state of Texas and neighboring Oklahoma strengthened his odds for the Republican presidential nomination on online betting sites but he still trails far behind Donald Trump. On PredictIt.com, oper

2 Mar 2016 09:35

BROKER RATINGS SUMMARY: Goldman Cuts Pearson To Sell From Neutral

24 Feb 2016 17:33

UPDATE 1-Online bettors see Donald Trump as odds-on Republican nominee

(Adds data, recasts first paragraph, adds NEW YORK to dateline) NEW YORK/LONDON, Feb 24 (Reuters) - Donald Trump's chances of winning the Republican nomination for the White House shot to a record high at online betting sites around the world on Wednesday after his latest victory in voting

24 Feb 2016 17:20

CORRECTED-British bookmakers slash odds on Trump taking Republican nomination

(Corrects Rubio's first name in fourth paragraph to Marco from Mark) LONDON, Feb 24 (Reuters) - British bookmakers on Wednesday slashed the odds on businessman Donald Trump winning the Republican nomination to run for the U.S. presidency after his latest victory in the Nevada caucuses. <

23 Feb 2016 15:01

FTSE 250 movers: Meggitt keeps index flying in the black

(ShareCast News) - In contrast to its older sibling, the FTSE 250 was in the black on Tuesday afternoon, up 16.35 points (0.10%) to 16,305.15. Meggitt led the pack after it posted a small rise in 2015 pre-tax profit and lifted its dividend despite what it referred to as a challenging year. For the

23 Feb 2016 13:51

Tuesday broker round-up

(ShareCast News) - HSBC: JP Morgan reiterates underweight with a target price of 410p and UBS stays at buy, 490p target. Just Eat: Investec reiterates buy with a target price of 435p. Glencore: Exane BNP Paribas keeps at outperform with a target of 145p. Ashmore Group: UBS starts coverage at neutr

23 Feb 2016 13:51

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Broker Tips: BP, FirstGroup, 888 Holdings, Ladbrokes, BAE Systems

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