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But he retains cautious optimism that the project will soon be breaking ground.
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The bank said: We retain a cautious view about the tour operators industry and still believe that it will need to continue to extract efficiencies to stay competitive with the associated one-off restructuring costs.
We retain a cautious stance on Carillion given the high implied price earnings multiple for McAlpine, the possibility of an external counter-bidder and our view that Carillion's own valuation is up with events, although we do recognise strategic logic in the tie up of the two businesses".
As such, we retain a relatively cautious view, with a hold recommendation and 165p price target.
Thirty years later, party leaders appear equally determined to retain power, but more cautious about how.
In addition, we were cautious to retain only those RCTs for which patient-important outcomes were reasonably expected.
It attempted some cautious re-engagement, retaining the sanctions but opening up a dialogue.
We remain cautious therefore on Intertek and retain a sell stance on valuation grounds with a current year PE multiple of 21 times.
Yes, investors will be cautious on the news, but we retain our buy and 169p target price.
The Louisiana governor, Bobby Jindal, and Wisconsin congressman Paul Ryan both gave a cautious defence of Christie, saying he should retain his post as the head of the Republican Governors Association (RGA).
"This is a fairly cautious statement, although at this stage, we retain our recommendation of hold," said Andrew Wade, analyst at Seymour Pierce.
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