Refusal to intervene

Headlines this week say the Treasury refused permission to intervene in motor finance battle to the detriment of the UK’s largest financial institutions and all stock picks are 73% BUY, 16% HOLD and 11% SELL.

1. BUY Castings

Top performing stock pick this week is BUY Castings by Canaccord Genuity with a tip performance of 8%.

Founded in 1835, Castings PLC is a UK iron casting and machining group that supplies the domestic and export markets.

Castings share price launched at 99p in 1993, rose to an all-time high of 520p in 2014 and is today at 250p.

On 18th February it announced a Trading Update in this RNS stating lower than expected earnings due to a reduction in the underlying demand for heavy trucks and prepaid unused electricity.

In response to the statement Canaccord Genuity lowered the target price from 340p to 325p and kept its BUY rating on the stock.

In Stockomendation two analysts Canaccord Genuity with BUY and Steve Moore with AVOID. There are no active short positions open.

2. BUY Barclays

Second top performing stock pick this week is BUY Barclays by UBS with a tip performance of 2%.

Barclays is a British multinational bank established in 1690 as a goldsmith bank. Barclays UK comprises the British retail banking operations, consumer credit card business, wealth management business, and corporate banking for small, medium and large-sized businesses in the UK.

Headquartered in London, Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index with a secondary listing on the New York Stock Exchange.

Barclays share price was floated in London in 1902 under the ticker BARC.

On 13th February it released 2024 Results in this RNS announcing profit in line with expectations.

UBS and JP Morgan upped their price targest by 10p and Shore Capital added 45p to its target price.

In Stockomendation five analysts with three ratings they are UBS, Goldman Sachs and Bank of America with BUY, JP Morgan with OVERWEIGHT and Cliff D’Arcy with WATCH. There are no active short positions open.

3. BUY Serica Energy

Third top performing stock pick this week is BUY Serica Energy by Berenberg with a tip performance of 2%.

Serica Energy is a UK upstream oil and gas company that explores, develops from UK reserves. It is one of the top 10 UK oil & gas producers.

Serica Energy share price launched at 107p in 2005, rose to an all-time high of 450p in 2022 and is today at 132p.

The share price dropped this week due to an announcement that Storm Eowyn caused production to shut down at one of its main operations due to equipment damage. Production is expected to resume by the ned of March with implications for possible reduction in guidance figures.

Berenberg Bank and Canaccord Genuity Group reiterated their BUY rating and three other analysts in Stockomendation with BUY they are Roland Head, Jefferies and Lucien Miers. One open fund manager short position, view that here.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 20th February 2025.