PRTY.L Share News (PRTY)

Panmure Gordon has not changed its forecasts for GlaxoSmithKline following third quarter results that failed to rouse much excitement.The drugs firm's results were broadly in line with the broker's expectations reporting revenues of £6.81bn and earnings per share of 28.2p.The broker recently downgraded GSK to 'hold' from 'buy' after the group's removal of its Avandia product from Europe because the withdrawal "introduces forecast risk to the 2011 financial year and results in a relatively weak prospective year"."We are not changing our forecasts and expect the stock price to remain range bound at at least until the second half of 2011," Neophytou added.The 'hold' recommendation remains with a price target of 1,350p.KBC Peel Hunt expects that the completion of PartyGaming's merger with bwin Interactive Entertainment to be one "well worth waiting for".The internet gambling firm's third quarter results were in line with forecasts with revenues at €85.3m. This represented a 6% decline compared with the last quarter, but a 9% increase compared with last year's figure of €78.3m.In regards to the merger, Batram doesn't underestimate the challenges of integrating the companies but notes that "the ultimate rewards are significant". bwin has also reported its third quarter numbers which were 22% higher than the prior year.With medium-term opportunity "still exciting", the broker retains its 'buy' recommendation with a target price of 304p. Nomura reiterates its 'buy' rating for Debenhams after well-timed acquisitions and strong operational management drove its recent full year results.Pre-tax profit for the department store group rose 21% year-on-year to £151m despite flat sales, driven by a 160 basis point gross margin increase.Analyst Fraser Ramzan highlights Debenhams' investments as key to its strong trading. The period saw the acquisition of Denmark's leading department store chain Magasin du Nord. Additionally, the group has implemented a plan to increase direct sales by a further 80% supported by a new warehouse. The broker has raised its earnings per share forecast by 10%. "Given its point of difference in Designers at Debenhams, the company is well positioned, in our view", Ramzan said. The broker confirms its 'buy' rating at a 90p target price.