Economy Shrinks

UK economy shrinks and all stock picks are a mix of 72% BUY, 15% HOLD and 13% SELL.

1. AVOID Eneraqua Technologies

Top stock pick this week is AVOID Eneraqua Technologies by Steve Moore in ShareProphets with a tip performance of 15%.

Eneragua Technologies manufactures and distributes water treatment equipment.

Eneragua Technologies share price launched at 285p in 2021, reached an all-time high of 380p in 2023 and is now at 42p, after an all-time low of 37p in early November.

Shares plunged this week at the announcement of significant delays to two local projects with full-year results to be "materially below current market expectations."

Steve Moore wrote in October about the company’s lower receivables and higher liabilities, with the noted forecasts already after then ANOTHER material profit warning and notes the full-year balance sheet will be received with interest, due to this second lower profit warning.

In Stockomendation Steve Moore is the only analyst with AVOID and there are no active short positions open.

2. BUY Paragon Banking

Second interesting stock pick this week is BUY Paragon Banking Group by UBS with a tip performance of 7%.

Paragon Banking Group PLC is a Solihull based specialist finance provider that offers a range of savings and lending products. The company also invests in and manages loan portfolios through its subsidiary, Idem Capital. It is one of the United Kingdom's largest providers of mortgages, savings accounts, and business finance.

Paragon Banking share price launched at 3,736p in 1988, reached an all-time high of 4,645 in 1991, reached an all-time low of 41p in 2008 and is now at 607p.

Shares rallied 2.7% this week after RBC upgraded the buy-to-let lender to outperform. Shares are up 28% in the past month.

In Stockomendation four out of four analysts say BUY or OUTPERFORM they are RBC Capital, Shore Capital, Emma Powell and UBS.

3. BUY Entain

Third interesting stock pick this week is BUY Entain by Deutsche Bank with a tip performance of 6%. The Gibraltar based sports betting and gambling company owns bwin, Coral, Ladbrokes, PartyPoker and Sportingbet.

Entain share price listed at 450p in 2004, rose to an all-time high of 2,156p in 2021 and is now at 908p.

Shares rose at the close of a bribery pay out and exit of the CEO.

In Stockomendation four out of five analysts say BUY or OVERWEIGHT they are JP Morgan, Deutsche Bank, Charlie Carman and Goldman Sachs. UBS says BUY. There are two active short positions open.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 14th December 2023.