FOGL.L Share News (FOGL)

Credit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock.Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidated debt levels but we estimate would reduce debt levels at holdco by c.$2.4bn assuming the merger is structured as a sale of VED's 55% Sesa Goa stake to Sterlite."Be that as it may, the broker has maintained its neutral rating and 1,400p target price for the stock, saying that it remains "cautious in the near term due to high debt levels, margin squeeze in power aluminium and power and regulatory risks to the company's iron ore operations."Housebuilding and construction firm Galliford Try surged higher this morning on the back of its interim results, with the rise being helped by Panmure Gordon, which upped its price target for the firm from 581p to 590p."Interim results from Galliford Try are exceptionally strong and well ahead of expectations. The company has announced a significantly enhanced dividend including a stepped increase for 2012E and a commitment to grow dividends progressively going forward," said Panmure Gordon.As such, the broker has raised its 2012 and 2013 full-year estimates for earnings per share by 5% and 3%, respectively. With the stock remaining the "cheapest in the sector" and offering the highest dividend yield, the broker maintains its buy recommendation.Merchant Securities has highlighted potential for sector peers of Cove Energy after Royal Dutch Shell launched a bid for the AIM-listed oil and gas producer this morning.Amongst other things, Cove has a 8.5% stake in the Rovuma Offshore Area 1, Mozambique, operated by Anadarko. Merchant Securities analyst Brendan Long has said that the bid has a strong read-across for companies "that have discovered or are exploring for oil and gas resources that share a similar geological themes, often with higher equity stakes in the assets." Long highlights six companies - Rockhopper Exploration, Ophir Energy, Falklands Oil & Gas, Chariot Oil & Gas, Borders & Southern Petroleum and Tower Resources - all of which were rising strongly this morning. BC