…and some to hold, avoid or sell
Dixons Carphone London Evening Standard
Exane BNP Paribas has slashed its rating in the group, which recently reported a 10% rise in annual profits, from “outperform” to “underperform”, arguing that “macro headwinds” in the mobile business could threaten profitability. Sell. 248.2p.
Ladbrokes Coral Group Sharecast
Credit Suisse has downgraded the bookie to “underperform” and slashed its target price to 110p, citing the risks to profits posed by the UK government’s triennial review of stakes and prizes. Sell. 117.1p.
Minoan Group The Mail on Sunday
Development in Minoan’s 6,500-acre Crete site is said to have been thwarted by the Greek planning system. The go-ahead has been given for a coast resort but Minoan must move fast as extended loans will soon fall due. Hold. 8.6p.
Pets at Home Investors Chronicle
Shares in the retailer have spiked after a better-thananticipated Q1 update. It’s not known whether gross margins have substantially improved, so analysts are resisting upgrading numbers until half-year results are announced. Hold. 192p.
Purplebricks The Sunday Times
The online estate agent has “taken off like a rocket” since floating in 2015. But the slowing housing market gives pause for thought – particularly as directors are reducing their stakes in the company. Sell. 444p.
Vertu Motors Investors Chronicle
The auto dealer is heavily exposed to contraction in the new car market and slipping profit margins on used cars. Limited levels of free cash flow put it at further risk if the car finance market collapses. Sell. 42p.