FTSE 250 movers: Credit Suisse upgrade drives gains for IMI, Howden Joinery lifts guidance
Engineering group IMI was near the top of the leaderboard on Wednesday, boosted by an upgrade out of Credit Suisse from 'neutral' to 'outperform'.
The Swiss broker also upped its target price from 1,160.0p to 1,450.0p, pointing to "supportive" lead indicators for the firm's Precision division in the short-term and better-than-expected execution on cost savings retention over the medium-term to back up its case.
Howden Joinery was another top gainer after the company lifted its profit guidance after a better-than-expected performance in the final weeks of the year as locked down Britons spent more time improving their homes during the coronavirus pandemic.
Another engineer, Vesuvius, on the other hand got handed a downgrade by JP Morgan, sending its shares duly lower.
JP Morgan downgraded the industrial ceramics group's stock from 'overweight' to 'neutral', although it did lift its target price on the shares from 575.0p to 591.0p
FTSE 250 (MCX) 20,616.31 -0.47%
FTSE 250 - Risers
Liontrust Asset Management (LIO) 1,350.00p 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) 1,299.00p 1.65%
Tritax Big Box Reit (BBOX) 168.30p 1.63%
Capital & Counties Properties (CAPC) 141.20p 1.58%
FTSE 250 - Fallers
Euromoney Institutional Investor (ERM) 1,000.00p -5.12%
Provident Financial (PFG) 285.60p -5.05%
Just Eat Takeaway.Com N.V. (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%
Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.