- Liberum initiates with ‘Buy’ for Experian
- HSBC starts coverage on Glencore with a ‘Buy’
- Panmure raises Bodycote to ‘Hold’
- Jefferies raises Greencoat Renewables to ‘Buy’
- Berenberg upgrades Softcat to ‘Buy’
Experian (LSE: EXPN), the world’s leading provider of financial data and credit bureau services, has ‘significant organic growth potential’, says Liberum, driven by structural growth in different sectors and geographies, which it has delivered so far regardless of market turbulence. Liberum initiates with a ‘buy’ rating and a target price 3,700p, while Bank of America reinitiates Experian with ‘buy’, at the same target price. The stock is currently trading at 3,019p, and although that’s a performance of -16.88% YTD, it is still 23.38% over 12 months.
Shares in Glencore (LSE: GLEN), a diversified miner and trader with global operations, have continued their inexorable climb this week, untroubled by the geopolitical tensions afflicting the rest of the UK stock market. Glencore is a top supplier of copper and cobalt, whose prices are close to record highs, amid continued strong demand from the hi-tech and the electric vehicle sectors. The stock is currently trading at 502p, a 1-year return of 78%. HSBC has started coverage of Glencore with ‘buy’, and a price target 530p. HSBC has also started on Rio Tinto with ‘buy’, and has reinitiated Anglo American, also with ‘buy’.
Bodycote Group (LSE: BOY), a thermal processing services group operating across multiple industrial sectors, saw its shares move with the markets, selling off from January onwards and then rebounding on 7 March. The company announced growth in profits of more than 30% for 2021, thanks to a strong market recovery, with a positive growth expected for this year as well. Shares are currently trading at 700p, a return of -19.12% YTD and -15.25% over 12 months. Yesterday, Panmure raised Bodycote to ‘hold’ (from ‘sell’), with a target price of 671p (676); on 18 March RBC raised the Bodycote price target to 800p (725).
Greencoat Renewables (LSE: GRP), the Dublin-based renewable infrastructure company invested in euro-denominated wind and solar assets across Europe, is in expansion mode, using revenues from recent share placings to acquire assets in Sweden and Spain. Its portfolio of assets will enable Greencoat to tap the growing demand for renewable energy in Europe, a central plank of the EU’s policy of a zero-carbon economy by 2050. In January, the European wind and solar markets were estimated by ING analysts to see capacity growth this year of 8% and 12% respectively. Shares in Greencoat are volatile but on an upward trend since December, and currently trading at 115 cents, a performance of 2.68% YTD and a 1-year return of -1.71%. Jefferies raises Greencoat to ‘buy’ (hold).
Shares in Softcat (LSE: SCT), the IT infrastructure and services provider, yesterday confirmed strong cash generation in the first six months of the financial year, with profit growth ahead of expectations, and an expectation that the full year would be ahead of previous estimates. Berenberg analysts concurred, believing the company is well placed to benefit from investment in digital transformation. They expect revenue to be ahead of consensus FY22 forecasts, with scope for more outperformance and upgrades to come. Berenberg upgraded Softcat to ‘buy’ from ‘hold’ and reiterated its 1,900p price target. Softcat stock is currently trading at 1,775p, or 27% up on its 52-week low of 1,395p on 7 March.
