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Headlines say sterling suffers biggest fall in two years as bond sell-off continues and all stock picks are 82% BUY, 6% HOLD and 12% SELL.
1. SELL WPP
Top performing stock pick this week is Buy Hunting by both Jefferies and Berenberg with a tip performance of 18% and 18% respectively.
Hunting PLC is a British company that manufactures, sells, and rents equipment for the energy industry. Hunting provides products and services to companies that explore, develop, and produce oil and gas. Founded in 1874, Hunting operates in North America, Europe, Asia Pacific, the Middle East, and Africa
Hunting PLC is listed on the London Stock Exchange under the ticker HTG and is a constituent of the FTSE 250 Index.
Hunting share price launched at 129p in 1988, rose to an all-time high of 948p in 2012 and is today 361p.
Jefferies placed the tip on 13th January before a sharp rise with Berenberg placing the tip a day later on the 14th.
On 14th January it released its 2024 Year End Trading Update in this RNS and also announced a restructure of its EMEA operations in this RNS.
The restructure will involve a consolidation of operations in UK, the Netherlands, Norway, Saudi Arabia, and the UAE and notably the relocation of well testing manufacturing and assembly business from the Netherlands to Dubai. The catalyst for the decision is stated as the UK’s decision to decarbonise its energy supply.
In the trading update Hunting stated trading inline with forecasts and growth expectation in 2025.
The upward share price trend continues with Canaccord Genuity reiterating its BUY rating and upping the price target, and Berenberg also increasing target price and restating their BUY rating.
In Stockomendation five analysts with five BUY ratings, they are: Berenberg, Jefferies, Canaccord Genuity, Tom Winnifrith and Steve Moore. One active UK Fund Manager Short Position held by Marshall Wace, view that here.
2. OVERWEIGHT Barclays
Second top performing stock pick this week is OVERWEIGHT Barclays by JP Morgan with a tip performance of 9%.
Barclays is a British multinational bank headquartered in London, England founded in 1690 and traces its origins to the goldsmith banking business in the City. In 1896, twelve banks in London and the English provinces, including Goslings Bank, Backhouse's Bank and Gurney, Peckover and Company, united as a joint-stock bank under the name Barclays and Co. In 1967, Barclays deployed the world's first cash dispenser.
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. According to a 2011 paper, Barclays was the most powerful transnational corporation in terms of ownership and thus corporate control over global financial stability and market competition.
On 13th January UBS raised the target price from 350p to 360p.
In Stockomendation five analysts with positive ratings: JP Morgan with OVERWEIGHT, RBC Capital with OUTPERFORM, Goldman Sachs and Bank of America with BUY and Barclays with TOP PICK. There are no active short positions open.
3. BUY St James’ Place
Third top performing stock pick this week is BUY St James's Place by UBS with a tip performance of 9%.
St. James's Place is a British financial advice and wealth management company. It is a combined adviser, fund manager and life insurance business. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Founded in 1991 it is a constituent of the FTSE 100 index.
St James’s share price launched at 85p in 1993, rose to an all-time high of 1,684p and is now at 893p.
Last week it awarded £5.2 billion sustainability fund mandate to Schroders from incumbent Impax Asset Management.
Canaccord Genuity reiterated its SPECULATIVE BUY rating and reduced the target price from 165p to 135p.
In Stockomendation four analysts with three different ratings: UBS and Deutsche Bank say BUY, JP Morgan with OVERWEIGHT and RBC Capital has SECTOR PERFORM. There are four open UK Fund Manager Short Positions, view that here.
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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 9th January 2025.