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We raise earnings per share around 9%, mostly on foreign exchange and move our target price to 1,450p.
On a 12-month view we think the shares look increasingly attractive with the uncertainties around refinancing now behind them, prompting us to move our target price from 50p to 70p and our recommendation from hold to buy.
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Redrow is currently the cheapest stock amongst the housebuilders, and we have moved our target price to 440p.
That means that anyone with a smartphone will become a 3D creator moving our target user base from 20 million to 2 billion people.
And if we keep moving our target, it becomes very tricky to hit.
We retain our SELL recommendation on Betfair and move our [price target] from 625p to 600p.
Stripping out the minority interest and the cash consideration from our net asset value, we move our price target from 359p to 400p.
To successfully move our hand to a target, it is important not only to consider the target of our movements but also to consider other objects in the environment that may act as obstacles.
We therefore reiterate our underweight rating, moving our price target to not available from 28p, on the basis that we see limited value in the equity.
We remain positive on Carnival as we think the medium term earnings recovery potential remains intact, however with only 5% upside to our £34 price target we move our recommendation to hold.
This would move us towards our target of generating 15% of UK energy from renewable sources by 2020.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com