Broker tips: RBS, Prudential, Cadbury
Insurance giant Prudential was one of the major risers on Monday morning after a price target upgrade from Dutch broking group ING.
ING has upped its target price for the Pru from 392p to 584p, but maintains its ‘hold’ rating for the shares.
The broker is not sold on all insurers, however. ‘The recent strong outperformance of insurers in our universe seems to us to be a relief rally that they have not suffered in the same way as the banks. This reaction is sensible, if superficial, in our view – and unlikely to be sustained,’ ING says.
The saving grace of Prudential is its exposure to emerging markets, though ING believes this is reflected in the current share price.
‘Some of the world's developing markets are doing exactly what it says on the tin and growing. A number of names in our universe are building businesses in these markets, and we recommend focusing buying on these stocks. Companies that are pursuing growth in emerging markets are the buy-rated Generali, Allianz, Fortis and Aviva,’ ING said.
Broker Recommendations
Date Company Name Ticker Broker Name Recommend Price Old Target Price New Target Price Broker Change 09-Nov-09 Aviva AV. ING Barings Buy 400.80p 434.00p 523.00p Reiteration 09-Nov-09 British Airways BAY Citigroup Buy 198.00p 250.00p - Reiteration 09-Nov-09 British Airways BAY UBS Buy 198.00p 215.00p 235.00p Reiteration 09-Nov-09 British Airways BAY Nomura Neutral 198.00p 230.00p - Reiteration 09-Nov-09 Cable & Wireless CW. Morgan Stanley Equal-weight 137.10p 190.00p 170.00p Reiteration 09-Nov-09 Cadbury CBRY Nomura Neutral 759.50p 805.00p - Reiteration 09-Nov-09 Cadbury CBRY Shore Capital Hold 759.50p - - Reiteration 09-Nov-09 Cadbury CBRY Charles Stanley Reduce 759.50p - - Reiteration 09-Nov-09 GlaxoSmithKline GSK JP Morgan Underweight 1,227.00p 1,050.00p 1,350.00p Reiteration 09-Nov-09 GlaxoSmithKline GSK Royal Bank of Scotland Buy 1,227.00p 1,410.00p 1,760.00p Reiteration 09-Nov-09 Prudential PRU ING Barings Hold 603.50p 392.00p 584.00p Reiteration 09-Nov-09 Rentokil Initial RTO Goldman Sachs Buy 104.90p 135.00p 138.00p Reiteration 09-Nov-09 Rentokil Initial RTO Bank of America Buy 104.90p 115.00p 120.00p Reiteration 09-Nov-09 Rentokil Initial RTO Morgan Stanley Overweight 104.90p 115.00p 120.00p Reiteration 09-Nov-09 RSA Insurance Group RSA ING Barings Hold 121.90p 131.00p 129.00p Reiteration
Other Company Recommendations Today
Antofagasta, Babcock International Group, Beazley Group, Britvic, BTG, Carr's Milling Industries, Charter International,Charter International, Charter International, China Shoto, Devro, Dignity, G4S, G4S, Game Group, Hammerson, Hiscox, IMI,IMI, Inmarsat, Irish Life and Permanent, Kier Group, Kier Group, Majestic Wine, Next, Pace, Redrow, Schroders, Schroders,Shaftesbury, Smith & Nephew, Taylor Wimpey, Tomkins, United Business Media, Vedanta Resources
Broker tips: RBS, Prudential, Cadbury
Insurance giant Prudential was one of the major risers on Monday morning after a price target upgrade from Dutch broking group ING.ING has upped its target price for the Pru from 392p to 584p, but maintains its ‘hold’ rating for the shares.
The broker is not sold on all insurers, however. ‘The recent strong outperformance of insurers in our universe seems to us to be a relief rally that they have not suffered in the same way as the banks. This reaction is sensible, if superficial, in our view – and unlikely to be sustained,’ ING says.
The saving grace of Prudential is its exposure to emerging markets, though ING believes this is reflected in the current share price.
‘Some of the world's developing markets are doing exactly what it says on the tin and growing. A number of names in our universe are building businesses in these markets, and we recommend focusing buying on these stocks. Companies that are pursuing growth in emerging markets are the buy-rated Generali, Allianz, Fortis and Aviva,’ ING said.
No comments:
Post a Comment