Broker tips: HMV, water firms, insurers
HMV has been benefiting from the demise of competitors and is likely to continue doing so, says the broker Charles Stanley as it keeps its ‘buy’ rating on the music, film and video game retailer.Charles Stanley is not signed up to the scepticism about HMV’s long term prospects expressed by other observers.
‘Based on our analysis, our conviction is that HMV is positioning itself well to be a
multi-channel brand in music, film and video games,’ it says.
It sees the firm as well placed to grow revenues, profits and market share. It also sees the firm as good value, trading at eight times earnings and with a 6.5% yield and keeps its ‘buy’ stance and 160p target price on the stock.
Evolution Securities has downgraded its recommendation on Pennon and Northumbrian from ‘buy’ to ‘add’ as it thinks the water firms face greater regulatory risks despite the relaxation of Ofwat’s determination on how much they can charge customers over the next five years.
Broker Recommendations
| Date | Company Name | Ticker | Broker Name | Recommend | Price | Old Target Price | New Target Price | Broker Change |
|---|---|---|---|---|---|---|---|---|
| 27-Nov-09 | Brewin Dolphin | BRW | Daniel Stewart | Buy | 160.10p | 207.00p | - | Reiteration |
| 27-Nov-09 | Computacenter | CCC | Panmure Gordon | Buy | 248.10p | 331.00p | - | Reiteration |
| 27-Nov-09 | H & T Group | HAT | Daniel Stewart | Buy | 277.50p | 360.00p | - | Reiteration |
| 27-Nov-09 | Hilton Food | HFG | Panmure Gordon | Buy | 186.00p | 235.00p | 250.00p | Reiteration |
| 27-Nov-09 | Holidaybreak | HBR | Panmure Gordon | Buy | 257.50p | 350.00p | - | Reiteration |
| 27-Nov-09 | Interserve | IRV | Panmure Gordon | Buy | 210.50p | 280.00p | - | Reiteration |
| 27-Nov-09 | Interserve | IRV | Astaire Securities | Buy | 210.50p | 325.00p | - | Reiteration |
| 27-Nov-09 | Legal & General Group | LGEN | Nomura | Buy | 79.90p | 115.00p | 125.00p | Reiteration |
| 27-Nov-09 | Legal & General Group | LGEN | Panmure Gordon | Buy | 79.90p | 99.00p | - | Reiteration |
| 27-Nov-09 | RPC Group | RPC | Panmure Gordon | Buy | 226.00p | 295.00p | 310.00p | Reiteration |
| 27-Nov-09 | VP | VP. | Panmure Gordon | Buy | 164.00p | 182.00p | 241.00p | Reiteration |
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