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Tech Capital

Broker spotlight including DCC, Royal Mail, Burberry and Glaxo

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Coms shares shot up around 23% to 0.8p.
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Energy distributor DCC (LON:DCC) gets an upgrade from analysts at German bank Berenberg today, who lifted the target price on the shares to £5,850 from £4,780.

It comes after the group's acquisition of Butagaz, France’s second largest LPG business and DCC’s largest acquisition to date.

"We believe the lower oil price is putting increased pressure on oil majors to dispose of downstream assets and view DCC, the market leader in Energy distribution in Europe, as a likely beneficiary," said the broker, rating the shares 'buy'.

Royal Mail (LON:RMG) was delivered an upgrade from City firm Cantor, which lifted the rating to 'hold' from 'sell'. Shares in the London-listed postal giant did well in early trades.

Cantor also rose its target price on the shares to 500p from 440p.

Heavyweight JP Morgan Cazenove repeated an 'underweight' rating on GlaxoSmithKline (LON:GSK) and lowered its target to 1,320p from 1,380p previously.

Fashion group Burberry (LON:BRBY) gets its target price slashed to 2,319p today from 2,513p by Goldman Sachs.

Last week, the group's full year results got a disappointed reaction from investors.

Positives on revenues and pre-tax profit were overshadowed by a 1.1% drop in adjusted profits, with FX costs weighing, and a cautious outlook statement.


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