Deutsche Bank presided over a whole host of downgrades for housebuilders on Tuesday, but said it remained upbeat on the prospects of the sector and was merely adjusting its forecasts to reflect “a possible moderate downside scenario”.
Despite lowering its price forecasts for Bovis Homes Group PLC (LON:BVS), Taylor Wimpey PLC (LON:TW.) and Barratt Developments PLC (LON:BDEV), the German bank reiterated the stocks as its top picks for the sector.
There were also target price cuts for fellow UK housebuilders Berkeley Group Holdings PLC (LON:BKG), Bellway PLC (LON:BWY), Crest Nicholson Holdings PLC (LON:CRST), Persimmon PLC (LON:PSN) and Redrow plc (LON:RDW).
In a note today, Jefferies International said it is becoming “increasingly challenging to find compelling value” in the healthcare sector, although it has picked a few stocks which it thinks are likely to perform well in the long term.
The American investment bank upgraded its price targets for NMC Health plc (LON:NMC), Georgia Healthcare Group PLC (LON:GHG) and Hikma Pharmaceuticals PLC (LON:HIK), selecting them as its top picks for the sector.
Away from the major notes out today, ARM Holdings PLC (LON:ARM) was downgraded to a ‘hold’ recommendation from ‘buy’ at Berenberg, although the German bank did increase its price target from 1400p to 1700p to reflect the recent offer from Softbank.
The travel industry was also under the spotlight again today.
Ryanair Holdings PLC (LON:RYA) has bucked the downtrend, with Cantor Fitzgerald maintain its ‘hold’ recommendation for the budget airline, setting a target price of €12.50, about 50c above today’s opening price.
The same broker also maintained its ‘buy’ recommendation for Mariana Resources Limited (LON:MARL) as well as its 104p share price target as the explorer begins trading on the TSX Venture Exchange, in addition to its London listing.