WOS.L Share News (WOS)

Panmure Gordon has maintained its sell rating and 1,500p target price for heating and plumbing giant Wolseley, driven by a combination of "high relative valuation, need for operational improvement and strong recent relative share price performance."Wolseley's first quarter results were welcomed by the market this morning, with shares rising 2-3% in early trade. However, Panmure notes that the trading outlook is expected to get tougher, "which keeps a lid on forecast changes"."We also have concerns about the likely strength of the US residential and commercial recovery. Recent disposals show that management are doing a good job tidying up the portfolio. For now our stock preference remains elsewhere in the sector."Plastics group Victrex saw its share price take a hit on Tuesday after its raised dividend and record profits seemed to underwhelm investors. Nevertheless, Investec still maintained its buy rating on the stock.However, the broker warned that the stock is still probably constrained by downgrades to higher-end forecasts."Nevertheless Victrex is a market leading, high quality, business and we are happy to maintain our long-term positive stance."The broker places its 1,575 target price under review.Peel Hunt has reiterated its buy rating for vehicle hire firm Northgate after the firm's first half results came in slightly ahead of forecasts."Our estimates continue to assume that UK recovery will be gradual and that Spain remains under pressure. While Northgate is still exposed to cyclical risk, we believe the potential for positive surprises (UK performance and return on capital employed), long-term value creation and management quality should be reflected in a higher rating," said analyst Andrew Nussey.With the outlook unchanged, the target price of 350p and buy rating are left in place.BC