Broker Tips
Broker tips: Mediclinic, Provident Financial, Reckitt Benckiser
Investec downgraded Mediclinic's London-listed shares despite having a more positive view than management on the outlook for the company's business in the United Arab Emirates, in anticipation of a weakening in the South Africa rand.
Monday broker round-up
Provident Financial: RBC downgrades to Sector Perform with a target price of 2650p.
Investec downgrades Mediclinic on expectations for weak SA rand
Investec downgraded Mediclinic's London-listed shares despite having a more positive view than management on the outlook for the company's business in the United Arab Emirates, in anticipation of a weakening in the South Africa rand.
Credit Suisse raises target price on Reckitt Benckiser
Analysts at Credit Suisse judged Reckitt Benckiser's acquisition of Mead Johnson to be well-timed, allowing it to make the most of cheap debt which meant the transaction would be immediately earnings accretive.
RBC downgrades Provident Financial after consumer credit division warning
RBC Capital Markets cut its stance on Provident Financial to 'sector perform' from 'outperform' and slashed the price target to 2,650p from 3,400p following the subprime lender's warning over its consumer credit division last week, which sent the shares sharply lower.