Several London-listed shares received updated analyst recommendations on Thursday, with a number of price targets being revised. The changes predominantly reflected an optimistic outlook, with Barclays (LON:BARC) and JPMorgan (NYSE:JPM) among the major banks making adjustments.
In the FTSE 100 index, Barclays raised its price target for Prudential (LON:PRU) to 1,610 pence from 1,575 pence (£1 = $1.2470) and declared it 'Overweight'. Legal & General also saw a price target increase by Barclays to 333 pence from 330 pence with an 'Overweight' rating. Other companies that had their targets raised by Barclays include Hiscox, Beazley, Barratt Developments (LON:BDEV), Aviva (LON:AV), and Admiral Group (LON:ADML).
JPMorgan also adjusted its targets for two FTSE 100 companies. It raised the target for Standard Chartered (OTC:SCBFF) to 990 pence from 980 pence and for Barclays to 190 pence from 180 pence. Both companies were given an 'Overweight' rating.
However, not all adjustments were positive. Jefferies cut Rightmove (OTC:RTMVY)'s price target to 375 pence from 385 pence and gave it an 'Underperform' rating. Despite this, Jefferies raised the Auto Trader Group's target to 740 pence from 700 pence and rated it as a 'Buy'.
RBC (TSX:RY) moved ConvaTec's rating to 'Outperform' from 'Sector perform', raising the price target to 300 pence from 215 pence. Similarly, Bernstein increased the Associated British Foods (OTC:ASBFY) price target to 2,600 pence from 2,500 pence and rated it as 'Outperform'.
In the FTSE 250 index, Peel Hunt downgraded Harbour Energy to 'Hold' from 'Add', reducing its price target to 260 pence from 300 pence. HSBC upgraded Moneysupermarket.com to 'Buy' from 'Hold', setting a new price target at 305 pence.
Barclays also adjusted its targets for several FTSE 250 companies. It raised Lancashire's target to 680 pence from 670 pence and Just Group's target to 125 pence from 120 pence. However, it cut Ashmore Group's target to 230 pence from 260 pence.
In the small-cap sector, Berenberg raised Hochschild Mining's price target to 140 pence from 130 pence and rated it as a 'Buy'. Panmure initiated coverage on Renewi with a 'Buy' rating and a price target of 830 pence. RBC also increased Ashtead (LON:AHT) Technology's price target to 480 pence from 445 pence and rated it as 'Outperform'.
Barclays made further adjustments in this sector by raising Sabre (NASDAQ:SABR) Insurance's target to 157 pence from 154 pence but cutting Old Mutual's target to 59 pence from 60 pence.
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