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We did not increase our forecasts for wages, consumption and aggregate GDP by as much as the HMRC study would have implied, partly because we took into account 'whole package' implications for monetary policy that the CGE model does not capture.
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Combined these dynamics cause us to review our market share assumptions, increasing our forecast share for Intel in the smartphone/tablet markets and reducing the assumed Arm share.
We just increased our forecast for next year because we had a better-than-expected number of new customers join this NFL season.
The finding is part of a concerted push by the WMO to increase our ability to forecast weather patterns at the poles and better understand naturally occurring climate variability and human-induced climate change.
Simon Irwin at Liberum Capital issued a new buy note and raised his estimates and price target: With the global environment holding up better than we had feared we have increased our 2012/13 forecasts by 8% to pretax profits of £443m.
Consequently, we update our revenue per available room forecasts and increase our earnings per share by around 2% and 3% in 2013 and 2014, respectively.
We also increase our target prices to reflect forecast sustained high RPI, putting the companies at premiums to regulatory capital value which reflect their relative total returns to equity over the remainder of AMP5 [the five year framework to 2015].
ITV was also helped by a positive note from Credit Suisse, which put an outperform rating on the broadcaster: We increase our 2015 TV ad growth forecast to 5.3% (previously 3.1%, consensus 2.7%) following latest feedback from UK media buyers.
"We're currently testing many features and tools to increase our charitable donation and have forecasted this to expand rapidly with the release of our new tech later this year," he adds.
We have increased our pretax profit forecasts by around 5% and nudged our target price up to 2,890p.
Nevertheless the sequential growth in the UK increases our confidence that forecast risk is to the upside.
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