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Broker tips: Domino's, Bowleven, Moneysupermarket.com

Thu, 09th Jun 2011 12:58

Panmure Gordon reduced its earnings forecasts for Domino's Pizza, reflecting the impact of start-up losses as part of the group's German expansion."Management guidance is that expansion into Germany will dilute earnings per share (EPS) by circa 3-4% per annum [in] 2011-13." After factoring in the reduced tax charge following the UK government budget (reduction in corporation tax), this equates to a 2% cut to EPS estimates.The broker keeps its 'sell', but scales back its target price slightly to 345p, from 350p.Matrix said that the Bowleven's test results for the Sapele-1ST (side-track) well were better than expected in light of pre-test expectations, and maintains its 'buy' rating and 390p target price.The well, located in the Douala Basin, offshore Cameroon, was drilled to a true vertical depth of 3,634m in water depths of around 24m, and the interval flowed at a stabilised rate of 2,023 barrels of oil per day. The group said that high quality oil was produced at 39.2 degree API (measure for the relative density of petroleum liquids), similar to that encountered at the original Sapele-1 well. "Considering the way the reservoir interval was presented post drilling and the market view of it, this is a good result, we believe," said analyst Charlie Sharp.Peel Hunt downgraded price comparison website Moneysupermarket.com from 'buy' to 'hold', in response to the recent strong run of the share price.The stock has risen by 21% over the past three months on the potential for upgrades to numbers given the trading momentum, analyst Malcolm Morgan notes.Meanwhile, the broker highlights that the Financial Services Administration issued a consultation document on the proposed regulation of price comparison websites (PCWs). While the broker cuts its rating, a target price of 100p is retained.---BCShares the brokers are backing*Asian Citrus Holding (ACHL) Rec: 10.00000000 Number of brokers: 8AZ Electronic Materials SA (WI) (AZEM) Rec: 10.00000000 Number of brokers: 7Chime Communications (CHW) Rec: 10.00000000 Number of brokers: 5Coal of Africa Ltd. (CZA) Rec: 10.00000000 Number of brokers: 5Endeavor International Corp. (ENDV) Rec: 10.00000000 Number of brokers: 7Eros International (EROS) Rec: 10.00000000 Number of brokers: 6Falkland Oil & Gas Ltd. (FOGL) Rec: 10.00000000 Number of brokers: 7Hyder Consulting (HYC) Rec: 10.00000000 Number of brokers: 6Immunodiagnostic Systems Holdings (IDH) Rec: 10.00000000 Number of brokers: 5KCOM Group (KCOM) Rec: 10.00000000 Number of brokers: 5Shares the brokers are turning their backs on*Mitsub.Mtr. (MMR) Rec: 0.62000000 Number of brokers: 8Carpetright (CPR) Rec: 0.75000000 Number of brokers: 10SCS Upholstery (SUY) Rec: 1.66999996 Number of brokers: 6Bradford & Bingley (BB.) Rec: 2.16000009 Number of brokers: 22HMV Group (HMV) Rec: 2.22000003 Number of brokers: 9Bankinter (BKF) Rec: 2.36999989 Number of brokers: 19Oki Elec. (OKE) Rec: 2.50000000 Number of brokers: 5*The broker recommendations we provide shows the weighted average brokers recommendations from a scale of 1 to 10 with a 5 indicating a neutral position, above 5 indicating a positive position and below 5 indicating a negative average broker position.

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