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Broker tips: Tullow Oil, Standard Life, Wolseley, Rexam

Thu, 13th Nov 2014 15:12

Westhouse Securities has lifted its stance on oil explorer Tullow Oil from 'add' to 'buy', hailing the potential of the company's portfolio of assets.The broker said it now sees "substantial upside" to the stock, with shares now worth just over half of what they were six months ago. However, it has slashed its target price from 930p to 770p on the back of a more modest exploration and macro outlook.Credit Suisse has lifted its target price for Standard Life but downgraded the insurer from 'outperform' to 'neutral'.The target price for the stock has been lifted from 410p to 425p to reflect the strong price achieved on the sale of Standard Life's Canadian business - the £2.2bn disposal was £650m above the value Credit Suisse had ascribed to the operations. However, this target only implies 4.7% upside to current prices.Berenberg has called an end to the earnings downgrade cycle at plumbing- and heating-products group Wolseley as it upgraded its rating on the stock from 'hold' to 'buy' on the back of the firm's US growth potential."Complemented by underlying market recovery in US residential and non-residential construction, Wolseley is an attractive proposition with 15% upside to our new price target of 3,900p," Berenberg said. The previous target was 3,500p.Beverage can maker Rexam said it traded in line with expectations in the third quarter, but a gloomy outlook for 2015 has prompted broker Charles Stanley to cut forecasts and repeat its 'hold' recommendation.Analyst Tony Shepard from Charles Stanley said: "For 2015, low single digit beverage can volume growth is expected. However, Rexam has highlighted a number of headwinds which are largely outside its control but we would expect it to respond positively to mitigate some of these pressures."
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15 Sep 2023 10:17

Trifast appoints former Essentra packaging chief Iain Percival as CEO

(Alliance News) - Trifast PLC on Friday said it has appointed former Essentra PLC packaging chief executive Iain Percival as its new chief executive officer.

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29 Jun 2016 10:36

Rexam Says All Approvals For Takeover By Ball Now Secured (ALLISS)

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28 Jun 2016 18:41

UPDATE 1-Ball wins conditional U.S. approval to buy Rexam

(Adds comment from Ball, background on the deal, divestiture) By Diane Bartz WASHINGTON, June 28 (Reuters) - Ball Corp and Rexam Plc, the world's two largest beverage can makers, have won U.S. antitrust approval to merge on condition that they sell eight aluminum can plants in the Uni

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22 Jun 2016 11:05

DIRECTOR DEALINGS: Incoming Chemring Chairman Buys First Shares

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21 Jun 2016 12:13

EU mergers and takeovers (June 21)

BRUSSELS, June 21 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Private equity firms the Carlyle Group and Crestview Advisors to jointly acquire U.S. sports and entertainment event

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15 Jun 2016 15:13

UK Shareholder Meetings Calendar - Next 7 Days

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10 Jun 2016 15:08

UK Shareholder Meetings Calendar - Next 7 Days

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23 May 2016 11:15

EU mergers and takeovers (May 23)

BRUSSELS, May 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Investment fund Apollo Management to acquire Portuguese insurer Acoreana Seguros (approved May 20) NEW LISTINGS

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20 May 2016 10:48

EU mergers and takeovers (May 20)

BRUSSELS, May 20 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- U.S. private equity firm Starwood Capital Group and Banco Sabadell to set up a joint venture to invest in hotels(appr

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29 Apr 2016 16:18

UPDATE 1-Ardagh draws US$20bn crowd for junk bond sale

(Updates throughout) By Davide Scigliuzzo NEW YORK, April 29 (IFR) - Investors on both sides of the Atlantic clamored for Ardagh's US$4.5bn bond sale this week, hoping that the packaging company's latest acquisition will finally pave the way for an IPO. Ardagh received around US

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29 Apr 2016 15:00

Dividends Calendar - Week Ahead

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29 Apr 2016 14:04

Books on Ardagh high-yield bond reach US$20bn: sources

By Davide Scigliuzzo NEW YORK, April 29 (IFR) - Investors have piled US$20bn of orders into Ardagh's US$4.5bn dual-currency high-yield bond offering, two sources familiar with the situation told IFR on Friday. The packaging company is raising funds in euros and US dollars from a five-

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26 Apr 2016 15:43

Tuesday newspaper share tips: Vodafone, Rexam

(ShareCast News) - Vodafone´s upcoming full-year figures should dispel investors´ doubts about the sustainability of its dividend policy and the high rating accorded to its shares, The Daily Telegraph´s Questor team said. Some observers fret that the shares current price-to-earnings multiple of 40 t

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25 Apr 2016 08:07

Ball and Rexam to sell assets to Ireland's Ardagh Group

(ShareCast News) - Ball Corp. and Rexam agreed to divest assets to Ireland's Ardagh Group worth $3.42bn in a bid to clinch regulatory approval for their merger. The two companies, which unveiled their intention to merge and create the world's largest manufacturer of food and beverage cans on 19 Febr

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25 Apr 2016 05:32

Ball Agrees To Sell Assets To Secure Approval For Rexam Deal

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