547 days ago
My youngest daughter believes that Peppa Pig is a work of literary genius. Her big sister Olaf believes in man made global warming. Joshua believes in Father Christmas and I have some belief about what woould be good for Cheryl Cole. Meanwhile, Cliff Weight of Sharesoc and our in house BB messiah PL believe in the utility of broker research. I bring you three notres on Made.com (MADE), floated at 200p last June and shares in which are now c1p.
2761 days ago
After a long City career Jason Streets has just joined paid for researcher Hardman and in a quite superb piece has spilled the beans on the collapse of traditional research and why the broker notes that are produced are just worthless pieces of marketing junk.Mr Streets does us all a service in laying out the hard facts which explains the death throes of broker research and its total lack of crredibility. Over to the man with the inside track.
2988 days ago
All broker research is meaningless gibberish and so with that caveat I bring you - flagging that we own the shares - because it is quite interesting a stance & target price upgrade from last week from Bank of America on Petropavlovsk (POG)
3611 days ago
Canacord is joint broker to Quindell (QPP). When Gotham City published its dossier Canacord withdraw its “buy” recommendation on the stock and said that its stance was “under review”. Almost two months later it is still “under review”. WTF is going on?
Quindell’s other broker Cenkos has reinitiated its coverage with a “buy” stance. I have discussed the nature of broker research on corporate clients recently HERE and I would frankly expect BOTH of Quindell’s paid brokers to be saying BUY. So what is Canacord analyst Kevin Ashton – a sharp and decent fellow – not saying Buy?
3631 days ago
Some folks get terribly excited about broker research reports. Henry at JP Morgan upgrades his stance from overweight to buy, Goldman’s removes a stock from its Conviction List but still rates it as buy. You know it all means sweet FA. Sorry to market reporters who fill column inches with this stuff but it is meaningless.
Brokers earn sod all from secondary trades that is to say from funds buying or selling shares on the back of research. Hence the real purpose of paying vast sums to analysts is to churn out documents to keep corporate clients (PLCs) happy and to lure in others. As such you rarely get sell notes.
Consider this: global stockmarkets are at near record highs. Does that, on balance, make you think that the vast majority of stocks are buys with only a few sells or perhaps it is the other way round? I would suggest that with markets at record highs this is not a “fill yer boots” moment.
And so
4051 days ago
I am not sure that anyone can call the share price of Bulletin Board Darling AIM listed oil stock Xcite Energy (LSE:XEL) correctly. As such I make no comment on today’s results other than to republish a research note from top broker Fox Davies and it is I who underline two phrases which grabs my eye. Clearly high risk/high reward. Over to the broker...
4129 days ago
I flagged up on the third of January an explicit allegation that fully listed gold miner Centamin (LSE:CEY) was not in fact selling any gold. The allegation was originally not made by an attention seeking share commentator (i.e. me) but by a well regard research analyst in a published note distributed by a respected London broker, viz Fox Davies. If the allegation is true then the implications for short term cashflow/ working capital at Centamin are profound. The response from Centamin? Er…
4147 days ago
You know that I am a bear of AIM listed oil producer Range Resources (LSE:RRL) but I am nothing if not a balanced sort of fellow and hence this piece. I reckon that the shares are stonking short on the basis of non delivery, peer group relative cashflow multiples and the act that Range’s cash position is less than splendid – I am convinced that it will do a funding at some stage soon.
But others are bullish. Notably the company’s house broker Fox Davies which has reiterated its 25p target share price and buy stance in a research note out today ( 19th December).
My target price is 1.5p and you can read why HERE.
But becuase I am such a decent sort of fellow I offer an alternative viewpoint.
Whether you buy, sell or hold is your call. Have a very merry Christmas.
4159 days ago
Top broker Ocean Securities has published a buy note on Amara Mining (LSE:AMA) in which it suggests that investors buy the shares at 65p with a target price of 99p. I long followed Amara, formerly known as Cluff Gold on t1ps.com and I also regard the shares as very cheap. As I shall explain below.
4170 days ago
On 21st November AM and TSX listed gold miner Minera IRL (MIRL) announced a material upgrade to its resource estimate for the Don Nicolas project in Argentina. The Measured and Indicated Resources have been increased by 23% to 468,000 ounces of gold. The economic effect of this is to increase the life of the mine estimate, something assisted by a 14% increased in the inferred resource estimate, to 165,000 ounces of gold. This has prompted broker Fox Davies to set a target price for the shares (56p today) of 116p.I do not entirely disagree with its analysis and here is why.
4174 days ago
I think that my views on fully listed Egyptian Gold miner Centamin (CEY) are well known. For me the great risk is a political one – I trust the Islamofascist Muslim Brotherhood rulers of Egypt less than I’d trust an 1970s Radio 1 DJ to do a spot of babysitting. But Fox Davies has another concern: the fuel subsidy.
4180 days ago
AIM and TSX listed Caza Oil & Gas (CAZA) served up its Q3 numbers earlier this week and that has prompted house broker Cenkos to publish a buy note with a 30p target price – the stock is now 16.5p. I know that the house broker is never independent as it is paid a retainer but I reckon that on this occasion there is a good case.
