Marks & Spencer Group (MKS) shares ticked up 4.14% to 188.5p as UBS ups price target
Today, shares in the British retailer jumped after analysts at Swiss investment bank UBS increased their price target to 230p and upgraded the stock to ‘buy’ from ‘neutral’.
While UBS reportedly admitted that August’s profit upgrade was likely helped by ‘pent-up demand’, analysts said in a research note that this turnaround was also of M&S’ own making.
This morning’s buy recommendation follows the retailer’s profit upgrade announced last month after M&S saw a strong trading performance in the months running up to August.
Northbridge Industrial Services (NBI) shares soared 19.18% to 146p as analysts say ‘buy’
Shares in the industrial equipment specialist jumped on Tuesday afternoon after Investors Chronicle recommended Northbridge Industrial as a ‘buy’ option with a 180p/share valuation.
As a ‘high growth play on the battery storage boom’, analysts said in a research note that the firm is ‘ideally placed to benefit from the accelerating transition towards renewable energy.’
Maestrano Group (MNO) shares jumped 12.96% to 15.25p following Network Rail approval
Maestrano, an AI provider for transport corridor analytics, said Network Rail has approved technology from its subsidiary Cordel for use in clearance gauging across the UK rail network.
Following the approval, Cordel's technology will help Network Rail automate and speedup the critical task of ensuring trains safely fit through infrastructure such as platforms and tunnels.
Specifically, Cordel’s technology will enable Network Rail to determine whether a different train will fit along a given route making it easier to introduce new trains onto the network.
ValiRx (VAL) shares rose 11.39% to 22.13p as it reports narrowed losses for 1H21
In its 1H21 results, ValiRx reported a narrower loss of £0.78m compared to £0.88m in 1H20. Kevin Cox, Non-executive Chairman, said the Company remains stable and that its cash position remains ‘strong and sufficient’ to support its therapeutic development strategy.
To date, ValiRx said discussions with potential partners for out-licensing clinical projects and in-licensing preclinical projects have not reached the stage where they can be announced.
Nevertheless, the Company told investors that it is now building ‘from a position of financial stability’ and looks to build growth in value through the acquisition of new assets to expand and progress its pipeline of therapeutic candidates in both Women's Health and Oncology.
Meggitt (MGGT) shares fell 11.96% to 738.8p after Transdigm withdrawals £7.1bn offer
The stock was down after US firm Transdigm dropped its takeover interest in Meggitt, a move which could enable Parker-Hannifin to conclude its own offer in the aerospace manufacturer.
Back in August 2021, TransDigm had made a £7bn offer for Meggitt, trumping Parker’s £6.7bn offer, however today the Company said it had decided not to proceed any further.