LONDON BROKER RATINGS: Exane raises Spirax, UBS cuts Fermi

(Alliance News) - The following London-listed shares received analyst recommendations on Wednesday morning and on Tuesday:

----------

FTSE 100

----------

Exane BNP raises Spirax to 'outperform' (neutral) - price target 8,350 (7,500) pence

----------

Keefe Bruyette & Woods raises Standard Chartered to 'market perform'

----------

JPMorgan raises Standard Chartered target to 2,220 (2,200) pence - 'overweight'

----------

Shore Capital raises HSBC to 'hold' (sell)

----------

Goldman Sachs raises HSBC price target to 1,700 (1,650) pence - 'buy'

----------

Jefferies cuts NatWest price target to 730 (750) pence - 'buy'

----------

Jefferies raises Barclays price target to 590 (570) pence - 'buy'

----------

Barclays raises Standard Life price target to 690 (660) pence - 'underweight'

----------

Deutsche Bank Research cuts Whitbread price target to 2,530 (2,815) pence - 'hold'

----------

Citigroup cuts GSK price target to 2,100 (2,250) pence - 'neutral'

----------

Bernstein cuts Informa price target to 1,033 (1,060) pence - 'outperform'

----------

Goldman Sachs raises United Utilities price target to 1,523 (1,346) pence - 'neutral'

----------

Goldman Sachs raises Pearson price target to 1,350 (1,300) pence - 'buy'

----------

Goldman Sachs cuts Mondi price target to 800 (910) pence - 'neutral'

----------

FTSE 250

----------

Deutsche Bank cuts Telecom Plus to 'hold' (buy) - price target 1,300 (2,000) pence

----------

Kepler Cheuvreux starts Primary Health Properties with 'buy' - price target 120 pence

----------

Goldman Sachs cuts Dr Martens price target to 71 (76) pence - 'neutral'

----------

Jefferies cuts Paragon Banking price target to 1,000 (1,060) pence - 'buy'

----------

Jefferies cuts OSB price target to 700 (780) pence - 'buy'

----------

SMALL CAP

----------

UBS cuts Fermi to 'neutral' (buy) - price target 6 (8) USD

----------

Berenberg raises Synthomer price target to 100 (60) pence - 'hold'

----------

Berenberg cuts CLS price target to 58 (80) pence - 'buy'

----------

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

Spirax-Sarco

Standard Chartered

HSBC Holdings

Barclays

Natwest

Standard Life

Whitbread

Glaxosmithkline

Informa

United Utilities

Pearson

Mondi

Telecom Plus

Primary Health

Dr. Martens

Paragon Group

OneSavings Bank

Fermi Inc

CLS Holdings

Synthomer