ITV: Barclays downgrades to equal weight with a target price of 180p.
Analysts at Shore Capital reiterated their 'hold' recommendation for shares of Devro on Tuesday, but sounded a positive note on the company, pointing to its successful efforts to de-lever its balance sheet and an inflection in the rate of growth of its sales volumes as reasons to expect a positive share price performance.
Analysts at Numis reiterated their 'hold' recommendation for shares of Devro on Tuesday, adding that the company's valuation was 'fair' despite the shares' recent underperformance relative to its benchmark.
Sausage casings producer Devro reported flat profits in 2017 but plans to churn out higher volumes in 2018.
Like the day before, it was some of the more defensive issues in the market that bore the brunt of selling despite the rout in equities worldwide, with recent slight shifts in expectations for policy tightening by the Federal Reserve in 2018 apparently triggering a sharp rise in stockmarket volatility as government bonds markets in the US, and elsewhere, came under pressure.
Reckitt Benckiser: JPMorgan upgrades to Overweight with a target price of 7500p
A pioneer in the sausage casings market, Devro now faces major growth challenges, said analysts at Berenberg, beginning coverage of the stock with a 'sell' recommendation.
Devro, a leading global manufacturer of collagen products for the food industry, confirmed that trading between 1 July to 31 October 2017 was in line with its expectations in its trading update on Thursday.
Devro, a manufacturer of collagen based sausage casings, saw sales growth bounce back over the first half the year.
Shares in Devro rose more than 4% after it said its expectations for 2017 remain unchanged.
Food-grade collagen manufacturer Devro announced its results for the year to 31 December on Monday, with unaudited revenue rising to £241.1m from £230.2m in 2015.
Devro said it would aim at growing revenues again now that it had concluded the construction and start-up of its new plants in China and the US.
Devro said on Wednesday that underlying profit for the full year 2016 is expected to be in line with the board's views.
Devro slumped after it cautioned that sales volumes and underlying operating profit in 2017 will be lower than expected, mainly on the back of sales declines in Latin America.
Next: Goldman Sachs reiterates sell with a target price of 4800p.
Lower production costs and a favourable tailwind from movements in foreign exchange rates helped to offset falling sales volumes, especially in China, at Devro in the first six months of the year.
Christine Cross, one of three non-executive directors at Hilton Food Group picked up £29,000-worth of stock in the company on whose board she sits at a price of 580p for each share.
Collagen products manufacturer Devro has completed the acquisition of Dutch sector peer PV Industries (PVI) for 12.5m (£8.88m).
The chief executive of Devro raised his stake in the collagen product manufacturer one day after the company posted a raise in profits thanks to a strong hike in demand.
Collagen product manufacturer Devro posted a sharp increase in interim profit after reporting a strong hike in demand.