Broker Recommendation Round up-London

Broker tips: WPP, G4S, Bunzl

Security solutions provider G4S is still enjoying top-line growth but the 4.8% improvement in organic growth over the first half of the year disappointed the market.

Broker Panmure Gordon observes that currency movements had something to do with the lower than expected improvement in organic growth while the group also encountered lower economic growth and inflation in many of its markets.

The broker said the half-year results were ahead of its expectations at the revenue and profit before interest, tax and amortisation level, though pre-tax profit was slightly below par.

‘Ahead of the analyst meeting we maintain our headline forecasts and Sell recommendation, with nearly 30% downside to our unchanged target price,’ the broker said.

Advertising group WPP was the top performing blue-chip on Monday despite expectations that Wednesday’s interim results will see a decline in like-for-like sales of around eight or nine per cent in the second quarter.

Broker Recommendations

Date	Company Name	Ticker	Broker Name	Recommend	Price	Old Target Price	New Target Price	Broker Change
24-Aug-09	Amlin	AML	Shore Capital	Buy	362.10p	-	-	Reiteration
24-Aug-09	Amlin	AML	FinnCap	Buy	362.10p	400.00p	-	Reiteration
24-Aug-09	Bovis Homes Group	BVS	Collins Stewart	Buy	545.50p	600.00p	-	Reiteration
24-Aug-09	Bovis Homes Group	BVS	FinnCap	Hold	545.50p	-	-	Reiteration
24-Aug-09	Bovis Homes Group	BVS	Shore Capital	Sell	545.50p	-	-	Reiteration
24-Aug-09	British Land Co	BLND	UBS	Neutral	484.80p	370.00p	450.00p	Reiteration
24-Aug-09	British Sky Broadcasting Group	BSY	JP Morgan	Neutral	548.50p	575.00p	605.00p	Reiteration
24-Aug-09	Bunzl	BNZL	Investec Securities	Hold	585.00p	510.00p	-	Reiteration
24-Aug-09	Bunzl	BNZL	Ambrian	Buy	585.00p	-	-	Reiteration
24-Aug-09	Bunzl	BNZL	Shore Capital	Buy	585.00p	-	-	Reiteration
24-Aug-09	Daily Mail and General Trust	DMGT	Panmure Gordon	Buy	373.20p	400.00p	-	Reiteration
24-Aug-09	Diageo	DGE	Citigroup	Hold	959.00p	1,040.00p	1,020.00p	Reiteration
24-Aug-09	Shire Plc	SHP	Collins Stewart	Buy	1,026.00p	1,245.00p	-	Reiteration
24-Aug-09	WPP Group	WPP	Royal Bank of Scotland	Buy	526.00p	475.00p	550.00p	Reiteration
24-Aug-09	WPP Group	WPP	Deutsche	Buy	526.00p	465.00p	610.00p	Upgrade

Other Company Recommendations Today

Aurelian Oil & Gas, C&C Group, Costain Group, CRH, Development Securities, Europa Oil & Gas, Faroe Petroleum, Findel, G4S, Gem Diamonds, Ideal Shopping Direct, IG Group Holdings, JD Sports Fashion, Monitise, Oxford Biomedica, Petrofac Ltd, Petrofac Ltd, Porvair, Rightmove, Wolfson Microelectronics, Yule Catto