Broker tips: Vitec Group, Centamin

Analysts at Berenberg raised their target price on camera supports manufacturer Vitec Group from 990.0p to 1,180.0p on Thursday, stating there was now "a brighter picture" for the group.

Berenberg said Vitec had made "a strong start" to 2021, with trading picking up "nicely" as first-quarter order intake and revenues came in broadly in line with 2019, while the group also announced two acquisitions - Lightstream and Quasar.

Vitec shares have also performed "exceptionally well", said Berenberg up 45% year-to-date, with the company also benefitting from the reopening trade.

Yet while the German bank expects the group to deliver "a much improved financial performance" in the current year, with the shares trading near all-time high levels at a valuation of 19.5x full-year 2022 price-to-earnings ratio and 10.7x enterprise value/underlying earnings, the analysts said they struggled to become "more constructive".

Berenberg reiterated its 'hold' rating on the stock, citing a preference for Strix and Coats in the retail/consumer subset of our UK industrials coverage.

Analysts at Bank of America upped their target price for shares of Centamin, highlighting to clients the group's multiple strengths.

Among those were its balance sheet "strength", zero debt and rising net cash position.

BoA also highlighted management's focus on stabilising the miner's production profile and generating cash flow.

As a result, BoA raised its target price on the shares from 130.0p to 140.0p while reiterating its recommendation to 'buy'.