BEST OF THE BROKERS
MICROGEN
Investec Securities reiterate their “buy” recommendation for IT group Microgen, which has issued an upbeat trading statement for the first half of the year.
Investec believe that Microgen’s Aptitude branch looks particularly strong, having signed major contracts with blue-chip customers. Full-year earnings are ahead of expectations.
WM MORRISON
Bank of America Merrill Lynch feels that Wm Morrison looks oversold after having underperformed the retail sector at near 12 per cent, and have upgraded their recommendation to “buy” with a price objective of 280p. Impressive sales densities and ongoing cost savings should position Morrison well even after the summer heat-wave boost.
WPP
Oriel Securities has upgraded their recommendation from “add” to “buy” for advertising agency WPP. Believing the downgrade cycle to be at, or very close to, its end, Oriel made its recommendation on the basis of what it said was currently a seductive share price having recently fallen and appearing to have reached its bottom.