Liberum adds Provident Financial and Pets at Home to 'Conviction Sell' list
Analysts at Liberum added Provident Financial (target price: 487p) , Pets at Home (target price: 145p), Anglo American and Domino's Pizza to their ten-strong list of 'Conviction Sells'.
Electronic & Electrical Equipment
9,711.27
16:25 26/04/24
Financial Services
14,053.03
16:24 26/04/24
FTSE 100
8,143.35
16:25 26/04/24
FTSE 250
19,818.52
16:25 26/04/24
FTSE 350
4,471.59
16:25 26/04/24
FTSE AIM All-Share
755.32
16:25 26/04/24
FTSE All-Share
4,424.98
16:25 26/04/24
General Retailers
3,919.02
16:24 26/04/24
Media
11,865.68
16:25 26/04/24
Pets at Home Group
287.20p
16:25 26/04/24
Solid State
1,365.00p
16:19 26/04/24
Vanquis Banking Group 20
48.00p
16:24 26/04/24
ZPG Plc
490.40p
16:59 11/07/18
Provident Financial? 'Forget it', Liberum said, explaining that it saw "no compelling reason" to own the shares - the severe devaluation in their price notwithstanding.
Pets at Home? "It's a value trap with significant pressure across the profit and loss," the broker said.
On a cheerier note, Rio Tinto, Burberry and M&S were taken off 'Conviction sell'.
Regarding the latter two, Liberum said: "we think recent strategic reviews have improved the risk-reward profiles."
On the other side of the ledger, as of Wednesday shares of SSP (target price: 600p) and Zoopla (target price: 450p) were listed as 'Conviction Buys'.
London-based SSP was described as a "structural winner" which was uniquely placed to capitalise on global investment in travel infrastructure and trends towards convenient food.
Meanwhile, Zoopla enjoyed exposure to a £3bn market opportunity that Liberum said had the potential to drive sustainable growth over the next five years.
Several other UK-listed outfits were among the broker's 'conviction buys', including ITV, TP Icap, Balfour Beatty, Howden Joinery and GlaxoSmithKline.