…and some to hold, avoid or sell

Hammerson

Investors Chronicle

The heavily-shorted shopping centre landlord is likely to face further pressure on rent collection and rental value of assets. Problems are compounded by high debt and the trend away from in-store shopping. Sell. 52p.

Imperial Brands

The Sunday Telegraph

Although “next-generation” products have disappointed, smokers have “carried on regardless” in lockdown, boosting Imps’ tobacco profits. Debt is a problem, but it’s selling its cigar business and yields 12.7%. Hold. £16.29.

Marks & Spencer

The Sunday Times

M&S has taken “very significant measures” to cut costs and protect cashflow from the impact of the virus. Food sales help, but it is structurally flawed as the retail world changes at “exponential pace”. Sell. 85.04p.

Premier Oil

The Times

The oil and gas producer’s acquisition and debt reduction plans have been dashed by the collapse in demand for oil. The price crash, difficulty raising finance and climate concerns cloud the long-term outlook. Avoid. 27p.

Trainline

Investors Chronicle

The online rail ticket provider has high hopes for its new SplitSave feature, which helps customers save money and could reduce queuing in stations. But the collapse in rail passengers could be long-term. Sell. 355.2p.

Watches of Switzerland

The Times

Britain’s biggest retailer of Rolex, Tag Heuer and Breitling watches has 104 shops in the UK and 23 in the US. Although shares dipped below IPO price, demand outstrips supply, and a surge in online sales and waiting lists is positive. Hold. 220p.