- Deutsche Bank increases target price for PlayTech
- Berenberg ups target price for Centrica
- JP Morgan Cazenove increases target price for Burberry
- Marks and Spencer sees upgrades from Exane BNP Paribas and Citigroup
Deutsche Bank increases target price for PlayTech
Deutsche Bank has increased its target price for PlayTech LON:PTEC to 615p (608p) and reiterated its ‘Buy’ rating. The FTSE 250 gambling software solutions business saw its share price fall following the publication of its half year results last week despite delivering strong growth. We wrote about PlayTech earlier this month as an undervalued stock within a sector that has a lot of overvalued players. There are risks with the prospect of a recession to the gambling business and any increase in regulation could make investors nervous, but PlayTech appears to be the pick for the sector.
At the time of writing, shares in PlayTech were trading at 507p, down 5.4% for the year to date and -16% over the last 12 months.
Berenberg ups target price for Centrica
Berenberg has increased its target price for Centrica LON:CNA to 110p (50p) and reiterated its ‘Hold’ rating. The FTSE 100 utility services provider has benefited from an unprecedented period in energy markets and the broker noted that it expects to see commodity prices eventually normalise at lower levels, leading to a decline in earnings and expects “a strategic update to be presented in the summer, illustrating how Centrica can extract greater value from the business and effectively deploy its capital to grow.”
Shares were trading at 103.6p, up 13% for the year to date and +27% over the last 12 months.
JP Morgan Cazenove increases target price for Burberry
JP Morgan Cazenove has increased its target price for Burberry LON:BRBY to 2,250p (2,000p) and reiterated its Neutral rating. The FTSE-100 luxury clothing retailer has seen impressive share price growth since last summer and the new leadership team is in the process of implementing a strategy, announced in November, that aims to realise Burberry’s potential in modern British luxury.
Shares in Burberry were trading at 2,474p, up 20% for the year to date and +40% over the last 12 months.
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Marks and Spencer sees upgrades from Exane BNP Paribas and Citigroup
JP Morgan Cazenove has upped its target price for Marks and Spencer LON:MKS to 130p (115p) and reiterated its ‘Underweight’ rating. This follows upgrades from Exane BNP Paribas and Citigroup last week to ‘Buy’ and ‘Neutral’ respectively. The FTSE 250 retailer saw first quarter results released this week from its 50:50 joint venture, Ocado LON:OCDO, which posted a revenue rise 3.4% in the first quarter to £583.7m, sales figures that were ahead of market expectations,
Shares in Marks and Spencer at the time of writing were trading at 158.78p, up 25% for the year to date and -4% over the last 12 months.
