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MARKET TALK: HSBC Initiates Coverage of UK Bus, Rail Stocks

Mon, 19th Jul 2010 07:28

0628 GMT [Dow Jones] HSBC initiates coverage of UK bus and rail stocks with National Express (NEX.LN) at overweight, 275p target; FirstGroup (FGP.LN) and Go-Ahead Group (GOG.LN) at neutral with 360p and 1110p targets respectively; and Stagecoach (SGC.LN) at underweight with 175p target. The sector faces a mixed outlook, says HSBC. It says rail passenger revenue trends are improving but the outlook for bus is more difficult. It notes the bus industry is heavily funded by the government and expects these subsidies to come under threat. On Friday, National Express shares closed at 235p, FirstGroup at 371.7p, Go-Ahead at 1129p and Stagecoach at 182.3p.(andrea.tryphonides@dowjones.com) Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 19, 2010 02:28 ET (06:28 GMT)
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3 Apr 2020 08:14

UPDATE 1-Go-Ahead chiefs take pay cut as govt throws lifeline to UK bus providers

(Adds FirstGroup, Stagecoach, details on sector, background)April 3 (Reuters) - Management at London bus and train operator Go-Ahead Group on Friday said it was taking a 20% pay cut as it and other bus companies welcomed 167 million pounds ($206.6...

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3 Apr 2020 08:04

FirstGroup and Go-Ahead shares rise on DfT support for bus services

(Sharecast News) - Both FirstGroup and Go-Ahead Group released statements on Friday in favour of a newly-announced financial support for crucial regional bus services in England, from the Department for Transport.

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3 Apr 2020 07:40

LONDON MARKET PRE-OPEN: Bus Firms Welcome Help; Ryanair Numbers Halve

LONDON MARKET PRE-OPEN: Bus Firms Welcome Help; Ryanair Numbers Halve

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30 Mar 2020 10:58

Go-Ahead's Govia Signs Direct Award For Operation Of Southeastern Rail

Go-Ahead's Govia Signs Direct Award For Operation Of Southeastern Rail

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30 Mar 2020 07:56

Go-Ahead directly awarded Southeastern rail franchise

(Sharecast News) - Train operator Go-Ahead Group said it had been directly awarded a contract to run the UK's Southeastern franchise until October 2021.

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23 Mar 2020 12:03

LONDON MARKET MIDDAY: Traders Await US Stimulus Agreement, FTSE Flops

LONDON MARKET MIDDAY: Traders Await US Stimulus Agreement, FTSE Flops

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23 Mar 2020 11:31

UK Rail Franchise Agreements To Be Suspended Due To Coronavirus

UK Rail Franchise Agreements To Be Suspended Due To Coronavirus

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23 Mar 2020 11:27

UK WINNERS & LOSERS SUMMARY: Shell Rises After Protecting Dividend

UK WINNERS & LOSERS SUMMARY: Shell Rises After Protecting Dividend

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23 Mar 2020 10:48

Go-Ahead Postpones Dividend Payment As Covid-19 Hurts Travel Demand

Go-Ahead Postpones Dividend Payment As Covid-19 Hurts Travel Demand

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23 Mar 2020 08:53

Covid-19: UK govt suspends rail franchises to stop firms collapsing

(Sharecast News) - The UK government effectively renationalised the railways on a temporary basis as it suspended all franchise agreements to help train companies avoid collapse due to the coronavirus pandemic.

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23 Mar 2020 07:57

UPDATE 1-Britain brings in emergency measures to prop up rail network

(Adds detail, background)LONDON, March 23 (Reuters) - Britain said on Monday it was taking emergency measures to help its rail network survive a 70% drop in passenger numbers as coronavirus stops many people from travelling.The Department for Tran...

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23 Mar 2020 07:55

Go Ahead suspends divi; says govt to reveal train franchise changes

(Sharecast News) - Rail and bus operator Go-Ahead Group said the UK's Department for Transport would on Monday announce temporary changes to rail franchise agreements across the UK to support the sector during the coronaviruis crisis and added that it would be suspending its dividend.

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23 Mar 2020 07:48

LONDON MARKET PRE-OPEN: Dividend, Share Buybacks And Spending On Hold

LONDON MARKET PRE-OPEN: Dividend, Share Buybacks And Spending On Hold

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23 Mar 2020 07:22

Britain brings in emergency measures to prop up rail network

LONDON, March 23 (Reuters) - Britain said it was taking emergency measures to help its rail network survive a 70% drop in passenger numbers as coronavirus forces people to work from home and not travel.Britain said on Monday it was temporarily sus...

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20 Mar 2020 07:48

Britain's rail network cuts services, Heathrow shrinks

LONDON, March 20 (Reuters) - Britain's rail network will operate half its normal service during the coronavirus crisis, the government and rail industry body said on Friday, and Heathrow Airport's operations will shrink as more of the country goe...

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