- Dr Martens target price raised
- Aberdeen upgraded to ‘Overweight’
- Greatland Gold price target raised
Dr Martens target price raised
Berenberg has increased its price target for Dr Martens LON:DOCS from 102p to 114p, maintaining its ‘Buy’ rating following better-than-expected results last week.
The boot maker said it expects to meet its 2026 earnings target. As part of a new turnaround plan from its new CEO, Ije Nwokorie, the business is aiming to reduce discounts in the Americas and across Europe, Middle East, and Africa. Even though U.S. tariffs are affecting costs, the company won’t be raising prices this year as all of its spring and summer products are already in stores.
Berenberg has lowered its current-year earnings forecast as a result of negative FX movements and tariff costs, but welcomed Dr Martens strategic update that was announced with results, noting the plan “broadens the scope of the brand’s ambition which, in our view, should support recovery and growth”.
“A broader focus makes sense to us, given the diverse appeal of the Dr Martens brand across ages, genders and geographic regions,” the broker added.
At the time of writing, Dr Martens shares were trading at 78.95p at the time of writing, up 7.34% this year and down 5.34% over the last 12 months.
Aberdeen upgraded to ‘Overweight’
JPMorgan Cazenove has upgraded Aberdeen this week from ‘Neutral’ to ‘Overweight’ with the asset management group placed on ‘positive catalyst watch’ ahead of its results.
Shares were trading at 196p at the time of writing, up 39% this year to date and up 32% over the last 12 months.
Greatland Gold price target raised
Canaccord Genuity has raised its price target for Greatland Gold from 25.0p to 29.0p this week, reiterating its ‘Buy’ rating, following its visit to the gold and copper producer’s Telfer-Havieron site.
The Canadian bank returned from the Telfer-Havieron site with “a more positive view” on the near and medium-term outlook for the company. A “range of likely life extension options” are expected to be “significantly bigger, at a modest additional cost”, it noted.
Looking at the medium-term outlook, Cannacord sees “29p net asset value/shr as a result of the Telfer life extension and the Havieron expansion being brought into our base case,”
Regular readers will recall our coverage of Greatland Gold in February reporting excellent results from its maiden underground drilling campaign at the West Dome Underground target at Telfer.
Shares in Greatland Gold were trading at 16.94p at the time of writing, up 168% in the year to date and up 130% in the last 12 months.
