30 Jul 2015 15:26
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Don't have an account? Click here to register.JPMorgan downgrades Dairy Crest to 'neutral'
Fri, 11th Nov 2016 08:18
(ShareCast News) - JPMorgan Cazenove downgraded Dairy Crest to 'neutral' from 'overweight' as the stock has surpassed its 600p price target.The bank said Dairy Crest's results on Thursday showed the group achieved positive volume growth in its key brands in the first half, despite a decline in the flagship Cathedral City cheese brand."This was achieved against a deflationary backdrop and with some operational teething problems in functional ingredients," JPM said.It cut its pre-tax profit estimate for full-year 2017 by 2% to £61.5m to reflect a reduced contribution from functional ingredients. However, it lifted its forecast for FY18 by 1% to £68.4m to reflect increased margin expectations.Dairy Crest said on Thursday that adjusted pre-tax profit in the first half rose 19% to £19.1m as the group underwent a restructuring.Revenue fell 7% to £190m in the six months ended 30 September, reflecting deflationary pressures in its markets.At 0840 GMT, the shares were down 0.4% to 600.50p.
More News
24 Jul 2015 16:19
Friday broker round-up
(ShareCast News) - Aberdeen Asset Management: JP Morgan Cazenove reiterates neutral stance and trims target to 415p from 435p. SocGen stays at hold but lowers target to 410p from 485p. Jefferies keeps at hold with 405p target, down from 460p. Aggreko: Investec keeps at sell. AG Barr: Investec reite
Read more15 Jul 2015 19:22
Wednesday share tips: First Group, Dairy Crest
(ShareCast News) - First Group lost two rail franchises last year and failed to replace them, setting the company up for a tough year. UK Rail was the biggest contributor to the company's top line but it is now expected to be approximately £900m lower as a result. Compounding matters, less expensive
Read more14 Jul 2015 11:24
Analysts mixed on Dairy Crest update
(ShareCast News) - Analysts at Numis and Investec have both moved ratings for Dairy Crest, albeit in different directions. Numis upgraded its rating for Dairy Crest from 'hold' to 'add' after the company said it would meet expectations. The broker also raised its price target for the milk, cheese a
Read more14 Jul 2015 10:22
14 Jul 2015 08:31
Dairy Crest cheese sales remain on target but butter's slide continues
(ShareCast News) - Sales at Dairy Crest remained broadly in line with forecasts in the second quarter, with higher revenues from Cathedral City cheese and Frylight cooking oil counterbalanced by continuing challenges from a declining butters and spreads market. Ahead of its annual shareholder meetin
Read more14 Jul 2015 07:25
14 Jul 2015 05:18
14 Jul 2015 05:18
13 Jul 2015 15:07