Broker Tips
Broker tips: Tesco, Morrison, Abcam, Greencore
Analysts at Jefferies upgraded their recommendation for shares of Tesco and Morrisons on Monday from 'hold' to 'buy', explaining that the pound has rallied against the dollar by well above 10% over the past year, while discount supermarkets' new store applications have fallen 25% in the past 2 years.
Jefferies upgrades Tesco and Morrisons to 'buy' as stronger pound aids UK grocers
Analysts at Jefferies upgraded their recommendation for shares of Tesco and Morrisons on Monday from 'hold' to 'buy', explaining that the pound has rallied against the dollar by well above 10% over the past year, while discount supermarkets' new store applications have fallen 25% in the past 2 years.
Berenberg cuts Greencore target, starts Bakkavor at 'hold'
Analysts at Berenberg marked down their target price for Greencore despite the favourable growth prospects for the chilled assembled convenience foods market, especially in the UK.
Berenberg downgrades Abcam to 'hold' on valuation
Abcam's latest set of half-year figures revealed the company was growing at twice the industry rate, but with the shares up by 26% since Berenberg started coverage of the shares in June 2017, the German broker decided to downgrade its stance on the stock from 'buy' to 'hold', citig their valuation.
JP Morgan stays at 'overweight' on Eurozone, Japan
JP Morgan stuck by its 'overweight' recommendation on Eurozone and Japanese equities, arguing that the risk-reward trade-off from stocks was still "supportive" and that growth did not necessarily need to shift down sharply, although some stalling was a possibility.