A wave of analyst rating changes swept across London-listed stocks on Tuesday morning, with Barclays and Goldman Sachs among the most active brokers revising their positions.
Barclays upgraded British Land (BLND) to ‘overweight’ with a price target of 465 pence, marking one of the more significant rating changes of the day.
Bank of America cut Vodafone (VOD) to ‘underperform’ from ‘neutral’, lowering its price target from 115 pence to 98 pence, signalling growing concern over the telecoms giant’s outlook.
Barclays also raised its price target on British American Tobacco (BATS) to 5,400 pence from 4,900 pence, maintaining an ‘overweight’ rating on the stock.
Goldman Sachs issued a string of revisions across the UK housebuilding sector, cutting Taylor Wimpey (TW) to ‘sell’ from ‘neutral’ and reducing its price target from 95 pence to 75 pence.
The US bank also trimmed its price target on Vistry (VTY) sharply, moving from 625 pence to 365 pence, while retaining a ‘buy’ rating on the housebuilder.
Goldman Sachs cut Barratt Redrow (BTRW) to a price target of 355 pence from 400 pence, keeping a ‘buy’ rating, and reduced its Bellway (BWY) target to 2,220 pence from 2,425 pence with a ‘neutral’ stance.
JPMorgan raised price targets on several mining stocks, lifting Anglo American (AAL) to 3,160 pence from 2,780 pence, Rio Tinto (RIO) to 8,280 pence from 7,200 pence, and BHP (BHP) to 3,400 pence from 2,600 pence.
Citigroup also raised its Rio Tinto (RIO) price target to 7,600 pence from 7,200 pence, maintaining a ‘neutral’ rating, while JPMorgan lifted Glencore (GLEN) to 560 pence from 500 pence on a ‘neutral’ basis.
UBS raised its price target on Experian (EXPN) to 3,870 pence from 3,700 pence with a ‘buy’ recommendation, while cutting Autotrader (AUTO) to 410 pence from 470 pence with a ‘sell’ rating.
UBS made a notable move on Ceres Power (CWR), nearly doubling its price target to 970 pence from 570 pence, while maintaining a ‘buy’ rating on the clean energy company.
EasyJet (EZJ) faced pressure from multiple brokers, with UBS cutting its target to 555 pence from 635 pence and BofA reducing its target to 430 pence from 460 pence, both retaining ‘buy’ ratings.
Genuit (GEN) saw coordinated cuts from three brokers, with Deutsche Bank, Berenberg, and Jefferies all reducing their price targets while holding ‘buy’ recommendations on the plastic piping manufacturer.
Barclays raised its price target on Tate and Lyle (TATE) to 525 pence from 395 pence and lifted Hiscox (HSX) to 1,820 pence from 1,730 pence, maintaining ‘overweight’ ratings on both.
Goldman Sachs cut its Smith and Nephew (SN) price target to 1,550 pence from 1,700 pence and reduced its Whitbread (WTB) target to 2,600 pence from 3,000 pence, holding ‘buy’ and ‘neutral’ ratings respectively.