Summary
BUY BRITVIC Altium Securities thinks it's worth investing in soft drinks giant Britvic, the distributor of Robinsons, Tango and Pepsi, naming the stock as a buy. The rating comes after the firm posted a trading update today, which left the bank encouraged that the UK soft drinks market looks to have stabilised: sales in Britain showed no deterioration over the past two months. Altium also notes that the decline in sales in Ireland is tapering off, in another sign of green shoots for Britvic. The bank describes the competitive landscape in the soft drinks market as "benign" and has consequently increased the stock's target price from 255p to 300p. Shares in Britvic were today changing hands at 3041/2p, ahead by 353/4p.
SELL MARKS & SPENCER Charles Stanley reckons shareholders in High Street stalwart Marks & Spencer should sell up, rating the stock as reduce. After the chain this week posted full-year results including sales down 5.9%, the bank says it believes that there are a number of structural problems within the business at M& S. It highlights particular problems in M& S's pricing plans and the make-up of its store portfolio but also cites the chain's pension-fund deficit as "likely to become an increasing issue". Describing Sir Stuart Rose's outlook as cautiously optimistic, Charles Stanley has concerns that M& S's agenda for the future, 2020 Doing the Right Thing has "slightly vague" goals. The shares today slipped 1/2p to 3111/4p.See the full content of this document
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Portfolio [Edition 2]
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