FTSE 250 movers: Entertainment One boosted by JPM note; Renishaw hit by downgrade
(ShareCast News) - London's FTSE 250 was up 0.3% to 20,155.61 in afternoon trade on Friday as investors digested the latest non-farm payrolls report.
Entertainment One was boosted as JPMorgan Cazenove upped its price target on the stock to 331p from 269p and kept its 'overweight' rating.
It said ETO remains a key pick in the small to medium mid-cap space and it sees a further 120p upside in its blue-sky scenario.
"As a producer of strong content assets (circa 80% scripted), the business benefits from significant price inflation in the space and increasing monetization opportunities globally," it said.
Pets at Home rallied after HSBC bumped up its price target on the stock to 245p from 210p, maintaining its' buy' recommendation.
"We believe that Pets at Home should be capable of delivering mid- to high-single digit profit growth each year for the next 15-plus years as it benefits from structural industry growth trends, competitive advantages and the consolidation of fragmented services niches.
"The traction that the price investment strategy has shown reassures us that this is achievable, which should increasingly marginalise concerns over the sustainability of the business model. Within this note, we look at the long-term potential of the business as it hits it growth ambitions and its estate matures."
Going the other way, engineering group Renishaw fell after a downgrade to 'sell' at Stifel.
Entertainment One Limited (ETO) 282.60p 4.24%
Rank Group (RNK) 232.50p 3.15%
Melrose Industries (MRO) 220.50p 3.04%
Pets at Home Group (PETS) 218.20p 3.02%
Cobham (COB) 148.00p 2.99%
CLS Holdings (CLI) 211.50p 2.67%
Coats Group (COA) 87.75p 2.51%
Playtech (PTEC) 937.00p 2.01%
GCP Infrastructure Investments Ltd (GCP) 127.00p 2.01%
Spirax-Sarco Engineering (SPX) 5,705.00p 1.97%
Renishaw (RSW) 4,618.00p -5.37%
Tullow Oil (TLW) 181.60p -4.82%
Hikma Pharmaceuticals (HIK) 1,180.00p -3.44%
Kaz Minerals (KAZ) 828.50p -3.27%
Polymetal International (POLY) 848.50p -2.97%
Wetherspoon (J.D.) (JDW) 1,249.00p -2.65%
Evraz (EVR) 321.60p -1.95%
Savills (SVS) 928.00p -1.85%
Sports Direct International (SPD) 391.80p -1.63%
Grafton Group Units (GFTU) 814.50p -1.63%