Nomura rates the media group BSkyB “buy” with a target price of £10.60. The broker issued its rating ahead of the news of pundit Andy Grays sacking and todays half-year results. Nomura expects underlying earnings of £486m and 346,000 new HD customers and believes the government will refer News Corp’s bid for Sky to the Competition Commission.
Despite other brokers concern at companies high 45 times earnings per share, RBS rates ARM Holdings a “buy” with target price of 600p. Investor blogs published slides of a roadmap for a planned Nvidia smartphone/tablet processor. The roadmap suggested that ARM may complete it’s quad-core processor for market by the end of the year, ahead of its peers in the broker’s view.
Standard & Poor’s Equity Research recently downgraded mobile phones company Nokia from “strong buy” to “hold” and issued the target price at €8 from €9 previously. S&P feels Nokia board has limited strategy options against competitors such as Apple’s iPhone and Google’s Android. The broker recons that Nokia operating systems lack exciting apps and it should invest less in developing the platforms.
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