Member Info for jange

Mondi: UBS raises target price from 670p to 720p reiterating a neutral rating.

Lamprell: JP Morgan increases target price from 35p to 114p and retains an underweight rating.

Investec: Morgan Stanley upgrades to overweight.

InterContinental Hotels Group: JP Morgan ups target price from 1650p to 1820p, while reiterating a neutral rating.

Hyder Consulting: Numis raises target price from 469p to 565p and retains a buy recommendation.

Hunting: JP Morgan reduces target price from 1069p to 761p downgrading to underweight.

Greencore: Panmure Gordon shifts target price from 100p to 110p and downgrades from buy to hold. Investec increases target price from 105p to 125p still recommending to buy. Numis downgrades to hold with a target price of 110p.

First Quantum Minerals: Exane BNP lowers target price from 1470p to 1450p, while keeping a neutral rating.

British Land: Panmure Gordon moves target price from 570p to 600p and maintains a buy recommendation.

Aveva: Jefferies takes price target from 2300p to 2560p, while its buy recommendation remains unchanged. Seymour Pierce increases target price from 1780p to 1940p, but still recommends selling. JP Morgan ups target price from 1600p to 2300p and retains a neutral rating.

Astra Zaneca: Barclays ups target price from 3100p to 3200p and retains an equal-weight rating.

ARM Holdings: Jefferies raises target price from 693p to 805p keeping a hold recommendation.

Anglo American: JP Morgan takes price target from 1630p to 1680p, while its underweight rating remains unchanged.

Positive Points: Adjusted earnings per share materialised at the upper end of forecasts. Pfizer has been cutting costs, including significant reductions in research-and-development spending. Pfizer's Xeljanz, a pill to treat rheumatoid arthritis, was approved in November. Speculation that Pfizer might also split off its generic drugs business persists. Management noted that "Pfizer would look at bolt-on deals rather than big purchases to help supplement the company's pipeline of new drugs." The board of directors previously authorised a new $10 billion share repurchase programme following the sale of its nutrition business for $11.85 billion to Swiss food and drink giant Nestle SA. Pfizer has been looking for ways to divest itself of its non-core businesses. The company is planning to spin off about 20% of its animal-health business, Zoetis Inc, in an Initial Public Offering.

Negative Points: While at the upper end of analyst expectations, adjusted earnings per share declined year-over-year. Cholesterol drug Lipitor lost its patent protection in 2011. Sales declined by 71% from a year earlier. The drug is still Pfizer's fifth-biggest product. Over 60% of Pfizer's sales come from overseas. Fourth-quarter revenues were impacted by foreign exchange rates, with sales cut by 2%. The drug maker is susceptible to increased competition in Emerging Markets from branded and generic players. Historically, slow development for new blockbuster drugs continues to be a concern for investors.

Financial Highlights: Revenues of $15.1 billion were generated, a decrease of 7% compared to Q4 2011 Headline earnings quadrupled to 85 US cents a share from 19 cents, a year earlier, helped by a $4.8 billion gain from the sale of its nutrition business Adjusted diluted earnings per share was $0.47, a fall of 4% compared with $0.49 in Q4 2011 Full-year earnings excluding one-time items are expected to be $2.20 to $2.30 a share

Fourth quarter results: The announcement was broadly welcomed by investors, with the share price gaining marginally in opening trade. Adjusted earnings per share materialised at the upper end of analyst estimates, whilst management guidance for the year ahead also proved to be at the higher end of forecasts. Sales of the group's Lipitor cholesterol drug were hit by a previous loss of exclusivity and subsequent generic competition, whilst currency movements also dragged on group revenues. More positively, group sales in the Emerging Markets continued to grow, the launch of new drugs such as its oncology drugs Inlyta and Xalkori contributed, whilst bolt-on acquisitions such as those for the group's Consumer Healthcare division also assisted. In all, while concerns for generic competition for its blockbuster cholesterol drug have weighed, hopes for new drug launches and speculation that Pfizer might also split off its generic drugs business in the future provide optimism,

Positive Points: William Hill said, in the fourth-quarter, performance was robust in Retail and profits continued to grow strongly in Online, with sporting results going in the company's favour in both channels. The company has been expanding its overseas and online activities to reduce reliance on its traditional market. On 20 December 2012, the group announced the proposed acquisition of Sportingbet's Australian business and the grant of a call option over Sportingbet's Spanish business for a consideration of £454 million. The group is also currently considering whether to buy out the 29% stake in William Hill Online held by Playtech. A decision is not expected until March earliest. Founded in 1934, William Hill is now the largest bookmaker in the UK while its online business saw its third consecutive year of above 20% net revenue growth at 27%.

Negative Points: Competition, particularly in the online arena, remains intense. An exceptionally unfavourable run of sporting results could depress revenue growth. The group encountered headwinds within its overseas online business impacting operating profit in a range between £7-£9 million. The company reported a "moderate operating loss" within its US operations. This followed the acquisition of three sports betting businesses, completed in September, however, overall performance was impacted by weak sporting results. The economic backdrop is currently challenging with austerity measures in place in many of the group's markets.

Financial Highlights: Group net revenue grew by 12%. Operating profit was up 20%. Online net revenue grew by 27%. Retail net revenue grew by 6%.