Broker tips: Johnston Press, Imperial Energy, Autonomy
Landsbanki has started coverage on Johnston Press with a 'buy' rating, noting that the newspaper group is currently trading at a 12 year low.
It gave the Scotsman and Yorkshire Post publisher a 165p price target.
The broker said that, while Johnston Press has the highest gearing among its peers, this is factored into its current share price.
Goldman Sachs has lifted its rating on Imperial Energy to 'neutral' from 'sell' following the recent fall in the Russia-focused oil producer's share price.
Shares in the company slumped on Wednesday after it said has entered into an agreement with Hoare Govett and Merrill Lynch to underwrite an equity issue of up to $600m to ensure it is funded through to early 2010.
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Goldman said there was only a 7% downside risk if the placement were to be priced at a 30% discount to the current price.
It maintained its 1,050p price target on Imperial.
Deutsche Bank has initiated Autonomy with a 'buy' rating and a 1,125p price target, citing the data search software specialist's defensive qualities and strong fundamentals.
The broker expects Autonomy to benefit from increased regulatory and compliance requirements and sector consolidation.
