LONDON (ShareCast) - Unlike most in the FTSE 250, water utility Pennon's share price is up, by 8.7%, over the 12 months, with the group providing a haven for buyers in troubled times.

Trading close to its year highs and at a price earnings ratio of 17.4 times, the stock is not cheap, and potentially has little room for improvement. However, at the very worst Pennon is a safe place to hide during the financial slowdown. Buy says the Independent.

Pennon is not the highest-yielding utility (about 3%), albeit the dividend has scope to be reset. However, at 629p, it remains one of the stock market’s better plays on higher prices. Buy says the Times.

Even if media group Thomson Reuters' revenue does flatten, earnings growth is underpinned by $1.2bn of merger-related cost savings, and Thomson Reuters has the ability to extend this farther if necessary. At £14.81, down 77p, the shares trade at 11 times next year’s earnings, which is reasonable given the company’s formidable market position, though more cautious investors should await November’s third-quarter numbers says the Times.

If you are an analyst, accountant or lawyer, the chances are that at least some of your training has been done with BPP, Europe's biggest provider of professional courses. The group's interim results published yesterday suggest that it is a lucrative business too. The share rating is low and the group looks prime for a buyout. Investors should get there first. Buy says the Independent.

On just under 11 times this year's forecast earnings, BPP looks undervalued adds the Telegraph. Hold.

Mid-market-focused IT services group Maxima now offers all the major groups including Microsoft, Oracle, SAP and Cisco and says it still has considerable headroom for further consolidation in the sector. Maxima currently trades on just five times earnings - a significant discount to peers that provides a good buying opportunity. Buy says the Telegraph.

Building contractor Rok shares have risen by about 50% in the last month, but trading at 8.5 times 2008 estimated earnings, when the rest of the sector is on seven times, Rok is already pricey, irrespective of its more defensive qualities. There will be a time to buy Rok, but it is not when the economy is heading into recession. Hold says the Independent.

Rok, which carries modest net debt of £16.7m, trades at less than seven times and yields 4%. However, given yesterday’s trimming of forecasts, it is hard to see what will drive the shares higher in the short term. Avoid says the Times.

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