Digital Look broker talk

Intertek: "We believe management has good visibility on the full year by this stage and after 10 months the company is well on track to achieve FY11 guidance ('high single digit organic growth, margin 'close to' FY10), which we estimate to be c4% above current consensus EPS" [Credit Suisse].Imperial Tobacco: "[The] inability to expand margin as cost efficiencies run dry and the need to support sales growth via heightened investment in brands (while suffering lower returns), we term hitting the 'tobacco wall'" [Nomura].SABMiller: "SAB are set to deliver pricing increases in the second half, which they will need to reconcile with strategic 'affordability' models in some local markets. We remain confident SAB can deliver the growth that the market has come to expect, but it won't be an easy task" [Investec].Mothercare: "We believe the outcome for 2012E...may deteriorate due to a rebasing of prices and the new strategy 'kitchen sinking' in the first half of 2012 calendar year. The 2013E recovery rating of c17x seems too optimistic to us" [Peel Hunt].Hunting: "The group is continuing to see strong underlying markets, especially in its increased exposure to shale gas markets, trading better than expected, which more than offsets the slight impact of customer delays on deepwater permits for the Gulf of Mexico" [finnCap]. Hunting Mothercare Intertek Group