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Panmure Gordon reiterated its "buy" recommendation and 550p price target on shares in network monitoring firm Endace (EDA), believing it is well positioned to benefit from the increasing threat of cyber crime. While there exist other listed participants that operate in this market, Endace remains the broker's investment preference, given the spread of its business, superior technology offering and its scalability

Canaccord Genuity has lowered its stance on Ashmore Group (ASHM) from "buy" to "hold" ahead of investment fund's results for the six months to December. Following a 24% increase in its share price over the past two months, the shares have reached the broker's target price of 396p. With Ashmore reporting in January that its interims would be in line with expectations, the broker reckons the shares are now trading at fair value

Daniel Stewart has slapped a "buy" recommendation and 766p price target on Smith and Nephew (SN.) shares, believing the orthopaedics sector may soon experience a rebound. The firm has felt the pressure in the replacement hips and knee market, where sales have been hit by patients deferring surgery. However, Daniel Stewart, believes fortunes are soon set to change and that the sector will achieve 'supernormal' growth in the long term, driven by favourable fundamentals, with Smith and Nephew set to benefit considerably

Shore Capital thinks now is the time to revisit Public Service Properties Investment (PSPI), placing a "buy" recommendation on the shares. The broker views the firm's update to the market in December on its ongoing strategic review as positive and notes that the group's share price is some way off its net asset value of 118.4p per share. With discounts narrowing elsewhere Shore wonders whether an investment in the company would offer 'a very interesting and timely opportunity'.

Well below the radar for many investors, shares in mini-conglomerate PSG Solutions (PSG) soared five times in value last year – but they still look cheap. The AIM-listed company owns three businesses: residential property surveys arm PSG, packaging specialist Moore & Buckle and surveillance expert Audiotel. Driven by the efforts of the management team over the past couple of years, PSG is now in rude health, as recent results testify. In the six months to September, it achieved a pre-tax profit of £3.86m (2010: £315,000 loss) as sales soared fivefold to £20.8m. Net cash also stood at a chunky £16.3m – not bad when compared with its current market value of £26.1m, but to be fair a large proportion is set against the delivery of a major contract. This significant piece of business relates to the Audiotel operation, which last year secured a contract worth £48.7m with a government department. As a result, it kitted out new premises and installed dedicated production lines, as well as taking on a team of 170 employees. Completion of the contract is set for October this year. Thanks to its already cash-rich balance sheet, last year it returned £3m to shareholders via a tender offer at 200p a share, and it has already signalled its intention of rewarding investors with a further payout. Recently appointed broker Northland Capital is yet to issue a research note, but at current levels the valuation looks anomalous. Buy.

http://www.growthcompany.co.uk/recommendations/1693068/psg-solutions.thtml

Accsys Technologies, an environmental science and technology company, has decreased operating costs by 14% for the financial year to December 2011. Revenue from its Accoya wood business increased 40% compared to the same quarter in the prior year and by 24% compared to the previous quarter of the current year. Cash levels dropped by €1.6m to €25.5m at September 30th, which the firm said marks a significant improvement in control over working capital compared to last year when the cash balance decreased by €4.5m during the equivalent period. Shares rose 4.55% to €0.17.

RUUKKI GROUP PLC'S 2011 FINANCIAL STATEMENTS BU... 12:00 London, 14:00 Helsinki, 17 February 2012 - Ruukki Group Plc, Stock Exchange Release RUUKKI GROUP PLC'S 2011 FINANCIAL STATEMENTS BULLETIN ADVISORY Ruukki Group Plc ("Ruukki" or the "Company") (LSE: RKKI, OMX: RUG1V) will publish its 2011 Financial Statements Bulletin on Friday 24 February at 09.00 Finnish time, 07.00 UK time. The Financial Statements Bulletin will be available on the Company's website www.ruukkigroup.com after publication. Investor Conference Call Management will host an investor conference call in English at 14.00 Finnish time, 10.00 UK time. Please dial-in at least 10 minutes beforehand, quoting the reference: 912604.

http://www.investegate.co.uk/Article.aspx?id=20120217120011H7026

Espirito Santo Execution Noble downgrades Hyder Consulting from buy to neutral, target price increased from 400p to 445p

Naxtis upgrades ARM Holdings from reduce to neutral, target price increased from 530p to 600p

Citigroup downgrades African Barrick Gold from buy to sell, target price cut from 655p to 419p

Fox Davies Capital downgrades African Barrick Gold from buy to hold, target price cut from 578p to 489p

UBS has maintained its sell rating for Holiday Inn owner InterContinental Hotels Group (IHG) following the firm's full-year results on Tuesday. The firm said that the disposal of the InterContinental Barclay hotel in New York is still ongoing, but UBS thinks that without this, a special dividend may not materialise. "A refurb has already started, perhaps suggesting hopes for a sale near-term are fading," the broker said.

Botswana Diamonds plc (LON:BOD) announced that it has conditionally raised GBP1.51 million through a placing and direct subscriptions with the Company of 37,750,000 new ordinary shares of GBP0.01 each at a price of 4 pence per share. The Fundraising price represents a discount of 11% to the closing price of 4.5 pence on 16 February 2012. The majority of the net proceeds of the Fundraising will be deployed on the Company's exploration projects in Botswana, Cameroon and Zimbabwe.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=19887854

"Total is very pleased with this new exploration opportunity in Côte d’Ivoire’s ultra-deep offshore, a field in which our expertise is globally recognized,” said Marc Blaizot, Total’s Senior Vice President, Exploration. “The so-called Abrupt Margin* theme that we will be exploring in this acreage is a core growth driver for the future. In particular, we are targeting the same theme in exploration licenses in French Guiana, where a promising discovery has already been made, and in Mauritania.” Total is already present in exploration activities in Côte d’Ivoire as operator of the CI-100 deep offshore license with a 60% participation. This license covers a surface of 2,000 km2 in water depths from 1,500 to 3,100 metres. A complementary seismic campaign of 1,000 km2 was launched end 2011 in order to finalize the 3D studies of the whole permit. First exploration drilling is planned for end 2012.

Total Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces the signature of production sharing agreements with the Côte d’Ivoire state and national oil company Petroci for three new ultra-deep offshore licenses. Total will operate the CI-514 license with a 54% interest, in partnership with Canadian Natural Ressources International (36%) and Petroci (10%). Total will also hold a 45% interest in the CI-515 and CI-516 licenses, alongside Anadarko (45%) and Petroci (10%). For each block Total will become the operator upon the first commercial discovery. The licenses are situated approximately 100 kilometres offshore Côte d’Ivoire and cover an area of 3,200 square kilometres with water depths ranging from 2,000 to 3,000 metres. The work program includes a 3D seismic survey of the whole acreage and one well to be drilled on each block during the initial three-year exploration period.

http://www.investegate.co.uk/Article.aspx?id=20120217092000Z3537

Peel Hunt downgrades from buy to hold, target slashed from 173p to 90p.