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Broker recommendations : Halfords, Resolution, WS Atkins

Broker recommendations : Halfords, Resolution, WS Atkins

08/06/2011 by ukcitymedia.co.uk about : Broker Recommendations - 0 Comments - 223 words


Citi has reiterated ‘buy’ for UK insurance buyout firm Resolution Group with a target price of 367p confirmed. The broker notes its cash generation potential following its plans to return £500m to shareholders. Citi continued that given lower asset and debt leverage, Resolution should be at a premium to UK peers given potentially lower cost of capital. Life Project’s focus on UK and declining activity in merger and acquisition M&A highlights valuation discounts believes the broker.

Numis downgrades engineering consultancy WS Atkins from 'buy' to 'add' noting that the shares are around 13% off its current target price of 919p. The broker believes that further upside is likely and that there could be scope to raise the target closer to 1,000 depending on the outcome of next weeks final results with the broker looking for upgrades to earnings per share estimates and comments from companies new chief executive.

UBS expects high street cycles shop Halfords Group to post full year profits in line with expectations when it reports tomorrow. The broker rates the retailer with a price target of 380p noting that the good weather over Easter should have helped sales. UBS also expects Halfords to issue a cautious outlook statement for the year ahead.


 
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