BEST OF THE BROKERS
PREMIER OIL
Goldman Sachs updated its estimates for Premier Oil following the firm’s recent successes in Vietnam and its prospects in Norway. As a result of the estimate changes, the broker has increased its 12-month price target to 1,507p from 1,423p, and continues to believe that Premier represents good value in its sector.
WELLSTREAM
Ahead of Wellstream’s interim results on Thursday, Royal Bank of Scotland changed its recommendation on the stock to “hold”, from “reduce”. The broker expects a significant fall in profits, both year-on-year and sequentially, due to lower utilisation and reduced backlog fuelling some plant inefficiency. It increased its target price from 375p to 530p.
SAGE
Panmure Gordon said that it expects Intuit to report strong results on Thursday, which will bode positively Sage – as both execute well in a global marketplace and most of Intuit’s operational initiative are mirrored by Sage. The broker said that good products and sales execution are key and upgraded the firm from “hold” to “buy”, with an increased target price of 218p.