Inflation Stable

UK inflation unchanged and all stock picks are a mix of 86% BUY, 5% HOLD and 9% SELL.

1. OUTPERFORM Essentra

Top stock pick this week OUTPERFORM Essentra by RBC Capital with a tip performance of 7%.

Essentra is a global manufacurer & distributer of plastic, vinyl, and metal components for a variety of industries: Essentra's products include caps, plugs, knobs, handles and grips used in automotive, electronics, medical, renewable energy, and other industries. It has 14 manufacturing facilities, 24 distribution centers, and 33 sales and service centers across 28 countries. Listed on the London Stock Exchange, Essentra is a constituent of the FTSE 250 Index.

Essentra share price listed at 240p in 2005, reached an all-time high of 1,042p in 2015 and is today at 143p.

Shares nosedived after a trading update issued 17 September in this RNS stating a slump in demand and downgraded FY24 expectations. This tip was placed on the 17th with shares at their lowest at 142p. By the end of the day shares were at 143p.

In Stockomendation Deutsche Bank, Jefferies and Tom Winnifrith say BUY and RBC Capital says OUTPERFORM. There are three active fund manager short positions open in Stockomendation, view those here.

2. SELL Avacta

Second stock pick this week is SELL Avacta Group by Deutsche Bank with a tip performance of 5%.

Avacta Group is a UK-based life sciences company that develops cancer treatments and diagnostics. It has has two divisions: Therapeutics and Diagnostics and is listed on AIM under the ticker AVCT.

Avacta share price listed at 5,448p in 2003, its all-time high, and is today at 65p.

On 16 September Avacta released this RNS ‘Avacta Reported Updated Phase 1 Data of AVA6000.’ On 17th September Deutsche Bank downgraded its rating from HOLD to SELL along with a new target price of 64.5p, down from 68p.

In Stockomendation two analysts say SELL they are Deutsche Bank and Tom Winnifrith. There is one open fund manager short position, view that here.

3. OVERWEIGHT Marks & Spencer

Third interesting stock pick this week is OVERWEIGHT Marks & Spencer Group by Barclays with a tip performance of 5%

Founded in 1884 in Leeds, M&S is a leading British retailer. A constituent of the FTSE 100 index, it was the first British retailer to make a pre-tax profit of £1 billion.

Marks & Spencer (M&S) became a public limited company in 1926, and has been publicly traded on the London Stock Exchange under the ticker MKS ever since. M&S share price reached an all-time high of 744p in 2007.

This tip was placed on 16 September. On 17 September shares reached a 7-year high and RBC and Barclays both increased their target prices.

In Stockomendation Jefferies and Charlie Keough say BUY, RBC Capital says OUTPERFORM, Barclays has OVERWEIGHT and Jon Smith says WATCH. There are no UK fund manager short positions currently open.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 20th September 2024.