FTSE 250 movers: Credit Suisse upgrade drives gains for IMI, Howden Joinery lifts guidance
Engineering group I was almost at the top of the ranking on Wednesday, which was promoted by an upgrade from Credit Suisse from “neutral” to “above average”.
The Swiss broker also raised its target price from 1,160.0 pence to 1,450.0 pence, pointing to “supporting” leading indicators for the company’s Precision division that were better than expected on cost savings in the short and medium term.
Howden joinery was another top winner after the company revoked its earnings forecast after a better-than-expected performance in the final weeks of the year as banned Britons spent more time improving their homes during the coronavirus pandemic.
Another engineer VesuviusOn the flip side, JP Morgan received a downgrade which duly lowered its shares.
JP Morgan downgraded the shares of the industrial ceramics group from “overweight” to “neutral”, although the price target for the share was raised from 575.0 pence to 591.0 pence
FTSE 250 (MCX) 20,616.31 -0.47%
FTSE 250 Riser
Liontrust Asset Management (LIO) 1,350.00 p 8.00%
TUI AG Reg Shs (DI) (TUI) 365.40p 3.10%
IMI (IMI) 1,301.00p 2.86%
Howden Joinery Group (HWDN) 713.20p 2.77%
Playtech (PTEC) 481.30p 2.69%
Vietnam Enterprise Investments (DI) (VEIL) 601.00p 2.56%
Royal Mail (RMG) 370.00p 1.82%
Dunelm Group (DNLM) 1,299.00 p 1.65%
Tritax Big Box Riding (BBOX) 168.30p 1.63%
Capital & Counties Properties (CAPC) 141.20p 1.58%
FTSE 250 – Faller
Euromoney Institutional Investor (ERM) 1,000.00p -5.12%
Provident Financial (PFG) 285.60p -5.05%
Just Eat Takeaway.Com NV (CDI) (JET) 8,676.00p -4.34%
Cairn Energy (CNE) 190.98p -4.03%
C&C Group (CCR) 240.00p -4.02%
Vesuvius (VSVS) 517.00p -3.99%
Marshalls (MSLH) 688.50p -3.98%
easyJet (EZJ) 764.00p -3.64%
Polypipe Group (PLP) 540.00p -3.57%
Sanne Group (SNN) 568.00p -3.24%