- Barclays upgrades Lloyds Bank to ‘Overweight’
- Barclays increases BP target price
- RBC Capital Markets adds target price for IG Group
- Berenberg Bank adds target price for Greatland Gold
- Jefferies reduces price target for Rentokil Initial
Barclays upgrades Lloyds Bank to ‘Overweight’
Barclays has upgraded Lloyds Bank LON:LLOY to ‘Overweight’ and increased it’s target price to 75p (55p) suggesting that the Bank is well placed to deal with the current economic conditions. The broker noted “We see a more enduring tailwind from rising rates than previously and RoTE less impacted by excess liquidity/deposit outflows, alongside falling provision risks given UK macro de-risking.”
At the time of writing, shares were trading at 53.68p, up 14% on the year to date and +2% over the last 12 months.
Barclays increases BP target price
Barclays has increased the BP LON:BP. target price to 1,000p (700p) and maintained its ‘Overweight’ rating following the announcement of record annual profits, a further $2.75bn share buyback and re-evaluation of its carbon emissions target on Tuesday. The broker noted “A new strategic update addresses key investor concerns and enables, in our view, a potential re-rating of the shares”
Shares were trading at 529p at the time of writing, up 9% on the year to date and +32.5% over the last 12 months.
RBC Capital Markets adds target price for IG Group
RBC Capital Markets has set a target price of 1,000p for IG Group LON:IGG and reiterated its ‘Sector Perform’ rating. The FTSE250 global fintech company recently released its six month update to the market, noting a strong performance over the period and an extension to their share buy-back program by £50 million, to a total of £200 million.
Shares were trading today at 808.5p, up 3% for the year to date and 4% over the last 12 months.
Berenberg Bank adds target price for Greatland Gold
Berenberg Bank reiterated its ‘Buy’ Greatland Gold LON:GGP and set a target price of 19p. The mining company recently provided updates on it’s exploration and development programs with the Havieron project showing “significant progress” and “new record high advancement rates achieved” and “encouraging second drilling results” at its Juri Joint Venture.
Shares were trading at 8.6p today, up 1% on the year to date and -41% over the last 12 months.
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Jefferies reduces price target for Rentokil Initial
Jefferies has reiterated their ‘Buy’ rating for Rentokil Initial LON:RTO but reduced the target price to 640p (665p). The broker is positive about the FTSE100 company noting “The recent derating, combined with potential earnings accretion from the Terminix deal, points to an attractive valuation.”
Shares were trading at 500.11p at the time of writing, down 4% on the year to date and -2% over the last 12 months.
