Broker boost for BP plc + Aviva plc as under-pressure shares are seen to offer investors further upside
- Category: Share Price Drivers
- Published on Monday, 11 March 2013 10:06
- Written by Will Peters
Anyone hoping for a sharp recovery will likely be disappointed; however there are those that see the stock as oversold. Today we see Aviva 1.1 pct down at 320.
Today we hear from Bank of America Merrill Lynch who say they are keeping AV on a Neutral rating. However, they have raised their target price on the stock to 350 from 330.
Citigroup are also backing Aviva by keeping their Buy rating on the stock intact. However, analysts at the bank say they are lowering their target share price from 479 to 432.
BP Plc: There are potential gains to come
BP Plc (LON:BP) is another stock that is under pressure as the Macondo saga continues to grind on and sector peers continue to underperform generally.
Deutsche Bank have however told investors today that they are keeping their Buy rating on BP while raising their target share price on the stock to 520 from 500.
Meanwhile, Exane BNP Paribas have kept their Outperform call and target share price at 575 intact. BP shares are currently outperforming the broader markets - the stock is 0.61 pct higher on Friday night's closing level at 453.46.
What can investors look forward to today?
Turning to the markets we see there is very little by way of movement but there are a spattering of events to look forward to.
Mike van Dulken, Head of Research at Accendo Markets says:
"In focus today, amid a slow macro line-up, is French industrial data which is seen remaining under pressure and weak on both a monthly and yearly basis.
"Italian GDP will be watched given the political deadlock which persists, the ratings downgrade late on Friday and electorate rejection of austerity while the country remains in recession which could soon turn depression.
"This week, watch out for the European summit which is the first since the inconclusive Italian election and could see pressure piled on whoever prevails, be they political, technocratic or technical from Eurozone peers.
"Elsewhere, data of note includes UK Industrial Data tomorrow which is seen highlighting continued and warranted concern for the economic outlook. US Retail Sales on Wednesday will be watched for evidence of consumer demand."
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- Brokers: Lloyds Banking Group Plc + Standard Chartered Plc + HSBC Holdings plc: Broker guidance changes issued - 11/03/2013 10:40
Older news items:
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- Facebook Inc : FB shares set to open 2.5 pct higher as analysts give vote of confidence to latest newsfeed changes - 08/03/2013 11:32
- Apple Inc, Intel Corporation: "Switching foundries is not necessarily great news" - AAPL unlikely to switch to x86 - 08/03/2013 11:21
- Intel Corporation within 'spitting distance' of ARM Holdings plc with x86; firming up Sell case on ARM stock - 08/03/2013 11:14
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