UK Broker Upgrades / Downgrades
|Code||Company||Broker||Recomm. From||Recomm. To||Price From||Price To|
|ECM||Electrocomponents Plc||Jefferies International||Hold||Hold||195||270|
|INF||Informa Plc||Deutsche Bank||Buy||Buy||680||730|
|POLY||Polymetal International Plc||RBC Capital Markets||Outperform||Outperform||750||840|
|REL||RELX Plc||Deutsche Bank||Buy||Buy||1260||1335|
|SDY||Speedy Hire Plc||RBC Capital Markets||Sector Performer||Sector Performer||32||40|
|BRBY||Burberry Group Plc||RBC Capital Markets||Underperform||Underperform||1250||1175|
|FXPO||Ferrexpo Plc||Deutsche Bank||Buy||Buy||110||105|
|HSBA||HSBC Holdings Plc||Grupo Santander||Hold||Underweight||464|
|SXS||Spectris Plc||JP Morgan Cazenove||Overweight||Neutral||1765|
|ARM||ARM Holdings Plc||Deutsche Bank||Hold||Hold|
|ASCL||Ascential Plc||Deutsche Bank||Buy||Buy|
|AZN||AstraZeneca Plc||Deutsche Bank||Buy||Buy|
|BP.||BP Plc||Deutsche Bank||Buy||Buy|
|BTG||BTG Plc||Deutsche Bank||Buy||Buy||740||740|
|CEY||Centamin Plc||Morgan Stanley||Overweight||130|
|CNE||Cairn Energy Plc||Deutsche Bank||Buy||Buy||220||220|
|DCG||Dairy Crest Group Plc||Credit Suisse||Neutral||Neutral||620||620|
|DMGT||Daily Mail & General Trust Plc||Deutsche Bank||Hold||Hold|
|GRI||Grainger Plc||Jefferies International||Hold||Hold||215||215|
|IFP||IFG Group Plc||Liberum Capital||Buy||215|
|IMG||Imagination Technologies Group Plc||Deutsche Bank||Sell||Sell|
|INVP||Investec Plc||Deutsche Bank||Buy||Buy||610||610|
|MARS||Marston’s Plc||Jefferies International||Buy||Buy||180||180|
|MOSB||Moss Bros Group Plc||Peel Hunt||Buy||Buy||140||140|
|NG.||National Grid Plc||Deutsche Bank||Hold||Hold||900||900|
|PFG||Provident Financial Plc||Barclays Capital||Overweight||Overweight|
|PSON||Pearson Plc||Deutsche Bank||Sell||Sell|
|QQ.||QinetiQ Group Plc||Canaccord Genuity||Buy||Buy||262||262|
|RMG||Royal Mail Plc||Deutsche Bank||Hold||Hold||435||435|
|SHAW||Shawbrook Group Plc||Barclays Capital||Overweight||Overweight|
|SPH||Sinclair IS Pharma Plc||Jefferies International||Buy||Buy||60||60|
|SPT||Spirent Communications Plc||Deutsche Bank||Hold||Hold|
|STAN||Standard Chartered Plc||Berenberg||Buy||Buy||750||750|
|TPK||Travis Perkins Plc||Deutsche Bank||Buy||Buy|
|TRB||Tribal Group Plc||Investec Securities||Buy||80|
|WMH||William Hill Plc||Jefferies International||Underperform||Underperform||280||280|
US Broker Upgrades / Downgrades
|Code||Company||Broker||Recomm. From||Recomm. To||Price From||Price To|
|AMIGY||Admiral Group||JP Morgan||Underweight||Neutral|
|SAM||Boston Beer Co||Berenberg||Sell||Hold|
|CMPGY||Compass Group||Credit Suisse||Underperform||Neutral|
|DVN||Devon Energy||Johnson Rice||Hold||Accumulate|
|LLL||L-3 Communications Holdings||RBC Capital Markets||Sector Perform||Outperform||$137||$150|
|MZOR||Mazor Robotics||Wells Fargo||Market Perform||Outperform|
|AFMD||Affimed NV||Leerink Partners||Outperform||Market Perform|
|EOG||EOG Resources||Johnson Rice||Accumulate||Hold|
|HT||Hersha Hospitality Trust||BofA Merrill Lynch||Buy||Neutral|
|HLT||Hilton Worldwide Holdings||BofA Merrill Lynch||Buy||Neutral|
|H||Hyatt Hotels||BofA Merrill Lynch||Buy||Neutral|
|LB||L Brands||Robert W. Baird||Outperform||Neutral||$84||$66|
|LB||L Brands||MKM Partners||Buy||Neutral||$83||$60|
|LXP||Lexington Realty Trust||Ladenburg Thalmann||Buy||Neutral|
|LMT||Lockheed Martin||RBC Capital Markets||Outperform||Sector Perform||$244||$244|
|NCS||NCI Building Systems||DA Davidson||Buy||Neutral||$16||$16|
|NOC||Northrop Grumman||RBC Capital Markets||Outperform||Sector Perform||$222||$222|
|PBR||Petroleo Brasileiro SA||Raymond James||Market Perform||Underperform|
|RLJ||RLJ Lodging Trust||BofA Merrill Lynch||Buy||Underperform|
|SBRA||Sabra Health Care REIT||Mizuho||Buy||Neutral||$25||$20|
|AMSC||American Superconductor||FBR Capital||Outperform||$14|
|ARWR||Arrowhead Pharmaceuticals||Chardan Capital Markets||Buy||$12|
|BKEP||Blueknight Energy Partners||Janney||Neutral||$6|
|BMTC||Bryn Mawr Bank||FIG Partners||Outperform|
|CNI||Canadian National Railway||Credit Agricole||Sell|
|CP||Canadian Pacific Railway||Credit Agricole||Underperform|
|KALU||Kaiser Aluminum||Goldman Sachs||Sell|
|KSU||Kansas City Southern||Credit Agricole||Underperform|
|NSC||Norfolk Southern||Credit Agricole||Outperform|
|TCK||Teck Resources||Goldman Sachs||Buy||$12|
|UNP||Union Pacific||Credit Agricole||Sell|
Key UK Corporate Snapshots Today
Altitude Group Plc (ALT.L) Announced, in its preliminary results for the year ended 31 December 2015, that revenues rose to £4.5 million from £4.4 million recorded in the previous year. Loss after tax narrowed to £1.3 million from £1.6 million.
Armadale Capital Plc (ACP.L) Announced, in its final year results for the year ended 31 December 2015, that operating loss stood at £0.93 million, compared to £1.07 million. Loss after tax was £0.99 million, compared to £1.08 million. Basic and fully diluted loss per share stood at 1.91p, compared to 4.43p.
BGEO Group Plc (BGEO.L) Announced, that it will publish its financial results for 1Q 2016 at 07:00 London time on Tuesday, 24 May 2016.
Brave Bison Group Plc (BBSN.L) Announced that Brave Bison notifies that Kevin Deeley has today been appointed to the Board as Chief Financial Officer. He has been granted options over 7,114,295 ordinary shares of 0.1p each in the company.
CEPS Plc (CEPS.L) Announced that Mark David Pollard has been appointed as a Non-executive Director of the company, with immediate effect, and will replace Richard Organ, who is retiring from his position on 20 June 2016.
Circle Oil Plc (COP.L) Announced in its strategic review update that the company has received a number of indicative proposals, which are in the process of being evaluated, and is working to conclude the strategic review process as expediently as possible. After taking into account the company’s $77.5 million outstanding debt position and based on the indicative proposals received to date, it is likely that there will be little or no value attributed to company’s equity holders. The management continue to consider all options to maximise value for shareholders and stakeholders.
Close Brothers Group Plc (CBG.L) Announced, in its trading update for the third quarter ended 30 April 2016, that the company’s performance improved during the quarter, with better loan book growth, tighter cost control and better market conditions for Winterflood. The loan book increased by 4.0% in the quarter to £6.2 billion (31 January 2016: £6.0 billion), benefited by strong growth in its leasing products and a seasonal uplift in motor finance. Asset Management witnessed robust net inflows in managed assets, which increased by 4% to £7.5 billion (31 January 2016: £7.3 billion). Total client assets increased by 2% to £9.3 billion (31 January 2016: £9.1 billion).
Conviviality Plc (CVR.L) Announced, in its trading update for the year ended 1 May 2016, that the year has seen the transformational acquisition of Matthew Clark on 7 October 2015 and the Company significantly progress its strategy of leveraging its strength as the UK’s leading specialist alcohol wholesaler and distributor which will be further augmented by the acquisition of Bibendum PLB Group. The Company has traded well with Group sales increasing by 137% to approximately £864 million (2014/15 £364 million). During the year, Conviviality Retail opened 126 new stores. Matthew Clark has traded strongly since acquisition with sales up 4.9% on the corresponding prior period.
Meggitt Plc (MGGT.L) Announced that Canada’s Department of National Defence has awarded Meggitt Target Systems (MTAS) a five-year National Individual Standing Offer (NISO) worth up to $35.0 million. The majority of the targets will be manufactured at MTAS’ manufacturing facility in Medicine Hat, Alberta with production deliveries expected this year.
Pendragon Plc (PDG.L) Announced that it would commence an initial £20 million share buyback programme of its ordinary shares. The Company has today entered into an agreement with Jefferies International Limited (“Jefferies”) pursuant to which Jefferies will implement that programme on behalf of the company. The Board believes a £20 million share buyback programme will increase capital efficiency whilst ensuring the balance sheet remains strong, enabling the Company to pursue its investment strategy and progressive dividend policy.
ProPhotonix Limited (PPIX.L) Announced in its annual general meeting that all matters put before the shareholders were duly passed.
Riverstone Energy Limited (RSE.L) Announced, in its interim management statement for the period from 1 January 2016 to 31 March 2016 that NAV as at 31 March 2016 stood at $1,339 million. Total invested capital as at 31 March 2016 was $1,014 million or 75% of total capital available. Total committed capital was $1,722 million or 127% of total capital available. REL is well positioned to take advantage of industry upheaval.
Secure Property Development & Investment Plc (SPDI.L) Announced, in its Q1 2016 Central and South Eastern European Real Estate Market Research update, that it currently has seven income producing properties in its portfolio, located in four South Eastern European countries and let to blue chip tenants. The company is focused on building a portfolio of income generating properties in South Eastern Europe, where the countries provide favorable supply and dynamics for modern commercial properties. Its strategy is to generate annual cash income from excellent covenant tenants, by acquiring properties that match its investment criteria at attractive yields providing substantial scope for capital appreciation as yields converge.
Slingsby(H.C.) Plc (SLNG.L) Announced that Lee Wright, Sales & Marketing Director at the company, resigned as a Director of the company with immediate effect. His board responsibilities will be assumed by the other Directors for the foreseeable future.
Spectris Plc (SXS.L) Announced, in its trading update covering the period from 1 January to 30 April 2016, that reported sales increased by 2% in the period. Regionally, LFL sales grew by 2% in Asia Pacific, whilst sales to North America, Europe and Rest of the World declined by 4%, 8% and 11% respectively. The Group continues to be highly cash generative and we maintain a strong financial position. Outlook for 2016 remains unchanged it is well positioned for the future.