Newspaper article The Evening Standard (London, England)

Taking Stock; Your At-a-Glance Guide

Newspaper article The Evening Standard (London, England)

Taking Stock; Your At-a-Glance Guide

Article excerpt

Goldman Sachs has raised HBOS from neutral to sell and lifted the target from 1063p to 1195p. It says the next interest rate rise is already reflected in the share price and, providing no further rises occur, the group would make a good buy.

BANKING AND FINANCE

Medsea Estates has raised [pounds sterling]700,000 via a placing of seven million shares at 10p. The estate agent says it will use the proceeds to provide further working capital, enhance its brand internationally and finance future acquisitions.

BUILDING AND PROPERTY

Charles Stanley has begun coverage of Clapham House with a buy rating and 500p target on valuation grounds. The broker says the restaurant group is poised to accelerate its earnings growth through new openings.

CONSUMER

US data tonight is expected to show employers increased the pace of their staff hiring last month, suggesting the economy is rebounding from its most sluggish quarter for four years. The news comes a day after gloomy GDP figures for the first quarter.

ECONOMICS

Balfour Beatty today admitted it was embroiled in the OFT probe into alleged price-fixing in tenders for building construction. Galliford Try, Rok and other major firms have also said they are providing information to the inquiry.

ENGINEERING

The US Food and Drug Administration has approved SkyePharma's asthma drug Zyflo CR, which uses the company's Geomatrix drug delivery technology. Critical Therapeutics expects to begin marketing Zyflo CR in the US in the autumn.

HEALTH

Citigroup has maintained a hold rating for Premier Farnell with a 190p target.

The electronics distributor's US results were better thanexpected with sales improving on a daily basis, and overall results are in line with expectations.

INDUSTRIALS

Restaurant Group benefited from Tragus's [pounds sterling]140 million takeover of Italy's Strada chain. Panmure Gordon has repeated its buy rating on Restaurant and its 425p target. The broker points out the cost per restaurant read-through indicates scope for a 24% rise in the shares.

LEISURE

Investec has cut the commercial radio group GCap Media from sell to hold and set a target of 190p following the shares' recent strong performance. …

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