BEST OF THE BROKERS.
To appear in Best of the Brokers, email your research to firstname.lastname@example.org South African mineral development company Bushveld trumped Peel Hunt estimates yesterday when it beat forecasts on production, pricing and costs, signing off on a high from its first quarter. The group has impressed since March, when it hailed its strongest month of production in almost two years. In fact, improvements to mining production means the firm is carving out a reputation among analysts, not least those at Peel Hunt, who have issued a "Buy" rating with a target price of 45p.
Property giant Crest Nicholson has been building up its balance sheet in the last year, with analysts noting that its net debt looks in good shape. A slowdown in the residential housing market in London and the south east has dented the FTSE 250 group's performance in recent years, but the City is hoping Crest can cement its growth with the arrival of Gaillford Try chief executive Peter Truscott as boss in September. Canaccord Genuity maintains a "Hold" recommendation with a target price of 365p.
Automotive, aerospace and energy are just a few of the many pies which Britishbased polymer solutions supplier Victrex has its fingers in. Liberum was left disappointed by three points in this week's results: the lowering of its pre-tax profit guidance, the warning over special dividends and the acknowledgement that revenue in two of its mega projects had been slower than originally hoped. As a result, the broker has issued a "Buy" rating but at a target price of 2,600p, down from 2,700p.