IT infrastructure products provider Softcat said on Wednesday that it expects to deliver full-year results ahead of expectations after a solid third quarter.
Softcat was under the cosh on Thursday as Jefferies cut the stock to 'hold' from 'buy' following recent share price strength.
Sabre Insurance Group plc: Numis downgrades to add with a target price of 330.
Credit Suisse downgraded its stance on IT infrastructure products and services provider Softcat on Wednesday on valuation grounds, as it said the shares were "up with positive events".
Softcat, a provider of IT infrastructure products and services, reported a rise in interim operating profit on Wednesday as revenue grew and the company lifted its dividend by 14% amid strong customer demand.
Softcat plc: Berenberg upgrades to buy with a target price of 650p.
Softcat, a FTSE 250 provider of IT infrastructure products and services, said on Tuesday that full-year results are anticipated to "slightly exceed" previous expectations.
Softcat hailed a solid start to the year on Wednesday as it reiterated its full-year expectations.
Softcat, which provides IT infrastructure products and services, has announced the appointment of Graeme Watt as chief executive with effect from 1 April 2018, replacing Martin Hellawell.
IT products and service provider Softcat proposed a bumper dividend after generating double-digit annual growth in sales and profits, but said it has not yet found a replacement for departing CEO Martin Hellawell.
Taking a fresh look at the UK mid-cap TMT sector, Berenberg has upgraded Computacenter and 4imprint to 'buy' from 'hold' and reversed that order as it downgraded Softcat.
Softcat announced on Wednesday that Martin Hellawell had decided to step down as chief executive officer once a successor is in place, at which point the board intended to appoint him to take over as non-executive chairman.
Softcat said on Wednesday that it has seen a good start in the first quarter but that it expects operating profit for the year to be weighted towards the second half.
A rebound in Laird following the crash lower in its shares during the previous session accounted for gains in the Technology Hardware space.
IT infrastructure products and services provider Softcat reported strong revenue and profit growth for the 12 months to 31 July, in its full-year results on Wednesday, with revenue improving 12.8% to £672.4m.
GVC Holdings: Berenberg reiterates buy with a target price of 760p.
Purplebricks got a boost on Tuesday as Citigroup initiated coverage of the stock at 'buy' with a 200p price target.
Harwood Capital, acting as investment manager on behalf of North Atlantic Smaller Companies Investment Trust PLC, picked up another large batch of shares in EKF Diagnostics.
FTSE 250 was marginally firmer in late afternoon trade as UK traders wound down ahead of a long weekend, with few of today's in-the-news mid-cap stocks figuring among that index's top-10 risers.
Societe Generale downgraded Marks & Spencer to 'hold' from 'buy' and cut the price target to 424p from 545p following the retailer's full-year results earlier in the week.