BEST OF THE BROKERS
BUNZL
Accendo Markets said that international distribution and outsourcing group Bunzl still deserved a “buy” rating, and set a short-term target of 680p a share. It said Bunzl’s 11 per cent revenue growth compared to last year was in line with expectations and its pre-close statement provided assurance that progress is still on track.
CARPETRIGHT
Singer Capital Markets kept its “buy” rating on Carpetright ahead of its interim results due today. With sales at the end of October up by 8.9 per cent across 25 weeks it said it was bullish about the carpet seller’s prospects. It put a target price of 1,100p a share on the group, claiming that sales growth is set to continue.
API
Numis issued a “buy” rating on packaging manufacturer API yesterday, after its first half pre-tax loss of £2.64m narrowed from the £3.2m loss in the previous half. Numis set a target price of 19p per share, citing cost savings, volume stability and the low cost of raw materials, and said API was an attractive medium term stock.