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Tag Archives: Category:Market Report

Thursday preview: Philly Fed, Royal Mail in the spotlight

The key data release on Thursday was expected to be the Philly Fed´s regional manufacturing index, which economists believed would reveal a small improvement in activity levels for the month of November. As ever, investors would likely also be keeping close tabs on the latest weekly unemployment claims figures. The …

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UBS downgrades Royal Mail to ‘sell’, shares tumble

Royal Mail shares tumbled on Wednesday as UBS downgraded them to ‘sell’ from ‘buy’ and cut the price target to 440p from 590p. The bank said risks to opex were increasing, with potential pricing pressure in UK Parcel. UBS cut its FY22/23 EBIT estimates by 8%/15%, mainly driven by higher …

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MediaZest winning new business at ‘encouraging’ rate

Audio-visual creative company MediaZest updated the market on new business wins on Tuesday, reporting that it had continued to secure new project work since its last update on 11 February at “an encouraging rate”. The AIM-traded firm, which was holding its annual general meeting, said more than £0.25m of confirmed …

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Conroy Gold reports positive results from Ireland zinc sampling

Ireland and Finland-focussed exploration and development company Conroy Gold announced results from an infill zinc-in-soil sampling programme on the northern Aughnagurgan section of the 20 square kilometre zinc zone it discovered in the Longford-Down Massif in Ireland on Tuesday. The AIM-traded firm said 23 of the 65 samples collected recorded …

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JPMorgan upgrades Ladbrokes owner Entain, downgrades 888

JPMorgan Cazenove upgraded Ladbrokes owner Entain on Tuesday and downgraded 888 Holdings as it took a look at the onling gaming sector. The bank upgraded Entain to ‘overweight’ from ‘neutral’ and lifted the price target to 1,852p from 1,628p given that its non-US assets now trade at a discount to …

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Sabien Technology establishes US subsidiary

Heating, cooling and transportation technology company Sabien has incorporated a wholly-owned United States subsidiary Sabien, Inc in the state of Delaware, it announced on Wednesday. The AIM-traded firm said US investor and technology company operator Danny Mills was appointed as president and Richard Parris as chairman and company secretary of …

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Broker tips: Cerillion, Royal Mail

Analysts at Canaccord Genuity raised their target price on software firm Cerillion from 350.0p to 465.0p on Tuesday, stating that demand was “good” but also noting that execution was “key”. Canaccord said Cerillion’s order book at the end of September 2020 provided it with visibility for over 90% of 2021 …

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Jefferies upgrades Royal Mail to ‘hold’

Jefferies upgraded its stance on shares of Royal Mail on Tuesday to ‘hold’ from ‘underperform’ and hiked the price target to 450p from 300p. The bank said a better-than-expected peak season and ongoing Covid-19 restrictions lead to a 60% increase in its FY20/21E operating profit forecast to £580m. “We estimate …

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