Source: Sharecast
"For context our £15 price target would represent a 5.7x price-to-earnings on our revised FY28 earnings," the bank said. "We recognise that there will be a significant period of uncertainty until the fleet renegotiation is defined."
Barclays noted that Wizz plans to present a new business plan to the market towards the end of this year.
"We further expect unit costs to be challenged by the costs of slowing growth and the share to be burdened by falling consensus for FY26," it said. "The financial consequences of poor recent decision-making will not vanish with a set of better decisions in recent weeks.
However, Barclays also noted that it sees "a far brighter future" for a Wizz that grows modestly, focussing on its core CEE market, where it enjoys a "strong market position". -
RBC Capital Markets has raised its target price for Volution Group from 700.00p to 740.00p after the ventilation products maker's better-than-expected second-half performance, keeping an 'outperform' rating on the stock.
The Canadian broker said that results for the year to 31 July should come in ahead of forecasts, with the company pointing to revenue growth of "over 20%" at constant currency, compared with RBC's 18.6% improvement expected, due to a strong performance in the UK and the integration of Fantech, acquired in December.
The guidance "underscores our positive outlook" for the next financial year, RBC said, predicting a recovery in underlying construction markets.
"There are evidently some signs of improvement in new build already, though we expect the more fulsome recovery across underlying markets has been pushed further into 2026," the broker said.
"Meanwhile, we expect FAN to continue its solid performance with a focused organic growth strategy, augmented by efficiency improvements in support of margins, and a well-oiled M&A strategy."
Panmure Liberum upgraded Softcat to 'buy' from 'hold' on Friday to reflect the recent share price fall and five positive takeaways from its fireside chat with the company.
Panmure, which kept its price target on the stock at 1,800.00p, said IT infrastructure and services provider Softcat iswasmore than just a reseller.
"Clients value their expertise, breadth of offering and culture and relationships are stickier than we thought," it said.
It also said that Softcat was clear that the gap between its double-digit and Bytes Technology's flat performance in recent months was company-specific. In addition, Panmure noted that demand for more compute power and storage is structural.
"Softcat’s big infrastructure deals are lumpy but could become business as usual," it said.
Panmure pointed out that the shift from on-prem to Cloud has a long way to go, and finally, it said that Microsoft incentive changes are being well navigated and are in Softcat's guidance.