Digital Look broker talk

Tesco: "We expect Q3 will allow Tesco to evidence the early gains made in UK food (Price Drop), and possibly non-food (ranging and merchandising), reinforcing our view of a palpable shift in momentum at Tesco" [Nomura].Admiral: "The profit warning at 9M 2011 has increased the risk in holding this stock, in our view. Our old TP equated to a PER of 10.4x, a premium to the market which we feel is no longer deserved" [Investec].Homeserve: "The share price has settled down and stabilised after the recent H1 results and UK telesales issues. While [the acquisition of Veolia Environnement's 51% share of Doméo SA] is a sensible strategic deal, we remain concerned about the reputational impact to the group through what has happened in the UK" [Panmure Gordon].Regus: "While the company does look well positioned for significant growth in the next cycle, current macro uncertainties could limit near term upside, hence our now more neutral stance on the shares" [Panmure Gordon]. Admiral Tesco