Pound Rises

Pound Rises and all stock picks are a mix of 78% BUY, 8% HOLD and 14% SELL

1. HOLD Tyman

Top stock pick this week HOLD Tyman by Jefferies with a tip performance of 7%.

Tyman is a leading international supplier of highly-engineered fenestration components and access solutions to the construction industry. The Group designs and manufactures products that enhance the comfort, sustainability, security, safety and aesthetics of residential homes and commercial buildings.

Tyman share price listed on LSE in 1999 at 83p, reached an all-time high of 494p in 2021 and is today at 391p. The company was founded in 1838 and is a constituent of the FTSE 250 Index.

In the news this week as Quanex shareholders approve the proposed acquisition for $1.1 billion which is expected to close in August. The sale will deliver a special dividend to Tyman shareholders and they will end up owning around 30% of Quanex stock.

Quanex is a building manufacturer of windows, doors, vinyl fencing, solar, refrigeration and cabinetry. Listed on the New York Stock Exchange, it was founded in 1927.

Jefferies reissued their HOLD rating on Tuesday.

In Stockomendation Jefferies and Peel Hunt say HOLD and Berenberg says BUY. There are no active short positions open.

2. EQUAL WEIGHT Burberry

Second stock pick this week is EQUAL WEIGHT Burberry Group by Barclays with a tip performance of 4%.

Burberry Group plc is a British luxury fashion house established in 1856 by Thomas Burberry and headquartered in London, England. It designs and distributes ready to wear, including trench coats, leather accessories, and footwear.

Founded in 1856 in Basingstoke, Burberry share price listed on LSE at 226p in 2002, rose to an all-time high of 2,594p in 2023 and is today at 741p.

On the 15th Burberry issued a profit warning in its First Quarter Trading Update in this RNS after which shares tumbled 15% to the lowest price in 10 years, with sales down 21% in its two main regions Asia and America and is heading towards an operating loss for the first half of the year.

It then announced the replacement of its Chief Executive with a new CEO who is ex Jimmy Choo has been appointed along with cost savings measures and repricing.

In Stockomendation JP Morgan and Goldman Sachs are NEUTRAL, Barclays is EQUAL WEIGHT, ODDO BHF and UBS say SELL. There are 6 active short positions open, view those here.

3. UNDERPERFORM Ocado Group

Third interesting stock pick this week is Underperform Ocado Group by Bernstein with a tip performance of 4%

Ocado Group plc is a British business based in Hatfield, England, which licenses grocery technology. It also owns a 50% share in the UK grocery retail business Ocado.com.

Ocado share price launched on LSE at 159p in 2010, reached an all-time high of 2,817p in 2020 and is today at 362p. Founded in 2000, Ocado is a constituent of the FTSE 250 Index.

On Monday Bernstein downgraded the stock to UNDERPERFORM from OUTPERFORM and slashed the target price a full 75% to 250p from 1,000p which sent shares downwards 10%.

However, you can read the Half Year Report issued on Tuesday in this RNS which reported revenue up 13% and which sent the stock up 18%.

In Stockomendation Barclays is UNDERWEIGHT, Berenberg and Bernstein are UNDERPERFORM, JP Morgan is NEUTRAL and Gordon Best says WATCH. There are 8 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 19th July 2024.