Citi upgrades to buy8 Oct 2020 15:34
Didn't see this reported on here. You have to skip through the Cineworld nonsense first...
https://www.thisismoney.co.uk/money/markets/article-8816019/MARKET-REPORT-Cineworld-shares-fall-Chinese-tycoon-hovers.html
Reliance on one group of services or customers carries higher risks β and none more so than for transport firms.
First Group and National Express will recover sooner than their rivals Go-Ahead and Stagecoach because of their business running school buses in North America, according to Citigroup analysts, who argue the yellow buses will be a saving grace for the FTSE 250 firms because anxious schools will be even keener to outsource services to save cash.
A sale of First's school bus business, however, could also be a major boon. Despite Government funding, Citi said Go-Ahead and Stagecoach are too reliant on local bus services to bounce back quickly from the pandemic.
Citi concluded Stagecoach warranted a 'sell' rating, sending it up 0.2 per cent, or 0.06p, to 38.94p, and downgraded Go-Ahead from 'buy' to 'neutral', which fell 5 per cent, or 29.5p to 556p.
National Express rose 4.4 per cent, or 6.7p, to 158.7p and First climbed 10.8 per cent, or 4.5p, to 46p after both were upgraded from 'neutral' to 'buy'.