Airlines Deals

ING Financial has upped shares in DIY retailer Kingfisher to “hold” from “sell” following its second quarter figures released yesterday.

The broker noted that gross margin was flat, as opposed to falling while profits also appear to be stabilising. ING proposed a price a target of 220p from 180p previously.

Dutch broker ABN Amro started coverage on miner Antofagasta with a “buy” recommendation and a price target of 470p per share.

The broker advised it was taking a more conservative stance on Antofagasta than it peers as a result of its reliance on copper.

WestLB dropped AstraZeneca to “hold” from “add” citing concerns that second quarter results released yesterday could be the bets it has to offer this year.

The German broker also lifted its price target to 3,500p from 3,300p, citing increased revenue estimates by 1% and EPS by 8% for this year.

UK lender Alliance & Leicester came off lows following its second quarter results after DKW stuck with its “add” advice on the shares noting that profit was ahead of forecasts.

The broker set a price target of 1,050p on the shares, which it said includes 100p takeover premium on the basis that Santander could bid in 2008. Conversely WestLB stuck with its ’sell’ recommendation and 850p price target.

HSBC started coverage on London Clubs International with a “neutral” stance advising that the disposal of its Les Ambassadeurs casino should help to smooth out earnings.

The broker also set a price target of 107p on London Clubs, adding that the more relaxed gambling legislation and a move towards a more mass market audience should help underpin growth.