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http://www.investegate.co.uk/Article.aspx?id=201204300700172927C

Jefferies has reiterated its buy recommendation for cigarettes and tobacco giant British American Tobacco (BATS) following the group's 'encouraging' start to 2012. Of the four major international tobacco players, the broker says that BATS has the most favourable emerging market footprint, with two-thirds of its boluses coming from the developing world. Meanwhile, some 41% of its volumes come from markets where it holds the number-one position.

Credit Suisse has highlighted the better-than-expected figures from oil titan Royal Dutch Shell in the first quarter but has maintained its neutral rating and 2,530p target price on the stock, saying that shares are 'not especially cheap in our view'. The broker says that the stock is trading at seven times 2013 earnings, a 10% premium to sector majors (6.5x), whilst offering below-sector-average yields. "We continue to see better fundamental value elsewhere in the sector (eg at Eni), however we would expect to see some rotation back into Shell given the year-to-date underperformance and the quality of its assets in the current uncertain market environment."

Possibly 36p coming and then bounce?

Seymour Pierce maintained its "buy" stance on Asian Citrus (ACHL), with a 65p target price. The broker's has visited the company's fruit juice division, BPG, and noted that lower concentrate sale prices have been compensated for by cheaper local fruit costs. Additionally, Seymour Pierce noted that the firm's margins improved in the second half of the financial year due to the production of the more profitable pineapple juice concentrate. The broker said that the facility has capacity for 40 thousand tonnes of concentrate per annum and added that a second plant with equal capacity is scheduled to be commissioned in the fourth quarter of 2012.

Daniel Stewart reiterated its "buy" rating for Alkane Energy (ALK) with a 30p target price. The gas-to-power company has won a contract to supply its technology to a biogas facility, which the broker believe will be able to process 60,000 tonnes of energy crops per annum, generating 2.4 megawatts of electricity. Daniel Stewart said that the contract is worth 1.8 million pounds over the next two years and believes that the company is close to securing further deals in the current financial year

WH Ireland initiated coverage of Dillstone (DSG) with a "buy" recommendation and 85p target price. The broker believes that the business software developer's acquisition of Voyager Software has greatly diversified its product offering and target client base, with 1,800 customers across 60 countries. WH Ireland was impressed by the firm's high level of recurring revenues, accounting for 60% of total sales at 3.2 million pounds, and expects the company to finish with a next cash position of 1.8 million pounds for the year ending 31st December 2012.

27th March 2012 Analyst: Emanuil Manos Halicioglu Email: emanuil.halicioglu@gecr.co.uk Tel: 0207 562 3368 The Quarto Group - Improved first quarter performance. Strong buy with a 253p target price

langyy - how did Sorrell come across on Bloom ?

Current trading and outlook n FY 2012 quarter 1 preliminary revised forecastsHTMLPIPESYMBOL Slightly better than budget, with like-for-like revenue and gross margin growth of over 4% and headline operating margin target of 14.8% up 0.5 points n Dual focus in 2012HTMLPIPESYMBOL 1. Revenue growth from leading position in faster growing geographic markets and digital, premier parent company creative position, new business, "horizontality" and strategically targeted acquisitions; 2. Continued emphasis on balancing revenue growth with headcount increases and improvement in staff costs/revenue ratio to enhance operating margins n Long-term targets reaffirmedg data analytics and application of new technology; small and medium-sized strategically targeted acquisitions to add 0% to 5% revenues p.a.; improvement in staff cost/revenue ratio of 0.3 to 0.6 points p.a. depending on revenue and gross margin growth; operating margin expansion of 0.5 margin points or more; and PBIT growth of 10% to 15% p.a. from margin expansion and acquisitions

WPP| Quarterly Trading Update n Reported revenues in sterling up 7.6% at £2.392 billion n Reported revenues in dollars up 5.5% at $3.762 billion and in euros up 10.1% at €2.866 billion n Constant currency revenues up 7.4% n Like-for-like revenues up 4.0% in first quarter, gross margin1 up 4.0% n First quarter profits and operating margin above budget and ahead of last year Quarter 1 highlights n Revenue growth of 7.6%, with like-for-like growth of 4.0%, 3.4% growth from acquisitions and 0.2% from currency n Growth in all regions and business sectors, characterised by particularly strong growth geographically in Asia Pacific and Latin America and functionally in advertising and media investment management and direct, digital and interactive n Like-for-like gross margin growth up 4.0% n Average net debt increased by £416m (-19%) to £2.644 billion reflecting an improvement on the 2011 comparative year end position n Net new business of $1.855 billion in the first quarter, compared to $1.346 billion in the first quarter last year

http://www.investegate.co.uk/Article.aspx?id=201204270700121959C

Russian oil company Exillon Energy paid out nearly £1m on private jets, school fees and credit card payments for its former chairman Maksat Arip - but failed to disclose the payments. The money was used to fund Mr Arip's international lifestyle shuttling between Britain, Russia and Dubai, and for his children's private education. But it has emerged that the company executive who approved the payments could not speak English, and therefore apparently would not have been able to read the rules concerning the disclosure of payments to directors, none of which had been translated into Russian. A Financial Services Authority investigation has concluded that although there was nothing wrong technically in the company paying the cash to its former chairman but that Exillon should be censured for failing to disclose the payments, The Telegraph reports.

Kishore Lulla, Chairman and Chief Executive Officer of Eros International Plc, commented: "Eros is delighted to support talented new Directors in their work and is delighted that Vasan Bala, in collaboration with Anurag Kashyap Productions has had 'Peddlers' shortlisted for the Cannes Critics' Week. With only seven films selected, this is an outstanding achievement, and Eros is proud to have partnered with Vasan and Anurag Kashyap in this venture."

'Peddlers' selected to represent India at Cannes Critics' Week Eros International Plc, a leading global company in the Indian film entertainment industry, announces that 'Peddlers', the film co-produced by Eros and Anurag Kashyap Productions, and directed by first time Director, Vasan Bala, has been selected to represent India at the 51st edition of Cannes Critics' Week, a parallel section of the prestigious Cannes International Film Festival. Founded in 1962, Cannes Critics' Week is the oldest parallel competitive section of the Cannes Film Festival. It showcases first and second feature films by Directors from all over the world and only selects seven feature films each year. It has a long-established tradition of discovering new talents including: Bernardo Bertolucci, Guillermo del Toro, Ken Loach, Wong Kar-wai and Denys Arcand. Peddlers is a Hindi thriller, set in Mumbai, and has two parallel love stories; one between a policeman and his married neighbour; and the other between a runaway and an immigrant.

http://www.investegate.co.uk/Article.aspx?id=201204270700131962C

Train and bus operator Go-Ahead reported increasing passenger numbers and Tempus likes the fact 90% of the company’s bus income comes from the robust southeast of England as opposed to its transport rivals trying to eek a living in the north. With the stock trading on less than eight times future earnings, Tempus says buy for the long term.

Whitbread, the company which owns the Premier Inn, Costa Coffee, Beefeater and Brewers Fayre chains, achieved underlying profits up 38% in the full year to the beginning of March. For Tempus in the Times this is enough to take a hard look at the stock. Broadly, Premier Inns and Costa are doing well, Brewers Fayre and Beefeater less so. The shares have gained 13.5% over the last 12 months and now trade at 13 times earnings. Tempus believes the competition is too hot for there to be much progress, the stock is a leave.

In the Telegraph, the Questor column puts speciality chemicals maker Croda firmly under the microscope. It makes many of the ingredients for cosmetics like lipstick and yesterday reported sales up 4.7% in the first quarter. The shares have been going great guns this year, up nearly 30% since December. That rise has left them at an earnings multiple of 16.7 times 2012 forecast earnings. Questor says hold

wobbly - apologies for non reply - I was in and out! will be back again soon though, GL