UK In Recession

UK in recession and top tips this week are HOLD 9%, BUY 80% and SELL 11%

1. AVOID Kromek Group

Top stock pick this week is AVOID Kromek Group by Steve Moore in ShareProphets with a tip performance of 24%.

Kromek designs and develops radiation detectors based on cadmium zinc telluride and other materials. Kromek serves three primary markets: medical imaging, nuclear detection and security screening.

Kromek share price listed at 57p in 2013, rose to an all-time high of 78p 3 months after listing and is today at 7p.

Reason for the price move is the cancelling of loan notes by the company, shown here in this RNS In his article Moore questions cash burn and valuation with shareholders already feeling the pinch with a 13% drop in value over the past 12 months, albeit with a 46% rise in the past month.

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

2. SECTOR PERFORM DiscoverIE Group

Second interesting stock pick this week is SECTOR PERFORM DiscoverIE Group by RBC Capital with a tip performance of 5%.

DiscoverIE Group designs and manufactures electronic components used in industrial applications in energy, transport, medical and telecoms sectors.

DiscoverIE Group share price listed at 156p way back in 1993, reached an all-time high of 1,250p in 2021 and is today at 740p.

New coverage for RBS with an opening rating of SECTOR PERFORM and target of 760p.

Interesting fact is that this stock has £234m of debt. With a market cap of £684m, net liabilities are still £187m.

Five analysts in Stockomendation with RBC with SECTOR PERFORM, Lucy Tobin and Redburn Partners with BUY and Shore Capital and Jefferies with HOLD.

3. UNDERWEIGHT Ashmore Group

Third interesting stock pick this week is UNDERWEIGHT Ashmore Group by JP Morgan with a tip performance of 3%

Ashmore is a London based specialist Emerging Markets investment manager founded in 1992 as part of the Australia and New Zealand Banking Group.

In 1999, Ashmore became independent and today manages a substantial portfolio of USD 54.0 billion (as of December 31, 2023) across pooled funds, segregated accounts, and structured products.

Ashmore share price listed at 194p in 2006, hit an all-time high of 568p in 2020 and is today at 217p.

In the news for dumping its stake in Evergrande the embattled Chinese property developer, JP Morgan reiterated its UNDERWEIGHT rating and 184p price target.

In Stockomendation two out of three analysts rate it as NEUTRAL they are Bank of America and UBS with JP Morgan saying UNDERWEIGHT. There are 7 active short positions currently open, view those here.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 15th February 2024.