Research
Jump to: Other Recent Research | Regular Products
Highlights
- Monthly Market Monitor - Poor month for equities; global markets fall 3.6% with ISEQ losing 7.3%
- 02 Sep 2010 (PDF)
- The ISEQ's August fall of 7.3% was its worst performance for the month since 1998 and resulted in an underperformance of 5.7% against the E300. Irish financials fell a further 11.5% and are now down 26.0% for 2010. European and US markets all suffered, with developed markets underperforming emerging markets for the fourth successive month.
- Independent News & Media - Delivering on guidance; upgrading 2010 earnings but leaving 2011 forecasts unchanged
- 02 Sep 2010 (PDF)
- The H1 results of INM showed that the group performed well, growing profitability in all divisions despite top-line declines in Ireland and South Africa. We are upgrading our 2010 EBITDA forecasts by €13.7m to €264.9m, driven by the good momentum in cost savings.
- CSM - Initiation of coverage: a lot of potential, but execution needs to be better than in the past
- 01 Sep 2010 (PDF)
- Assuming that investment in R&D, personnel and systems can lead to a less staccato performance in bakery, that Best Brands can deliver and that the new lactide facility in Thailand will come on-stream to plan (2011), the shares can perform. We initiate with an 'outperform' rating.
- Kerry Group - Reports stellar set of interims; upgrading FY 2010 and FY 2011 forecasts
- 01 Sep 2010 (PDF)
- A better-than-expected revenue and EBITA outcome drive a c.4% upgrade for FY 2010 and FY 2011. Revised 2010 and 2011 EPS forecasts are 191c (previously 184.5c) and 207c (previously 200c) respectively.
- CRH - Reducing forecasts to reflect weaker US outlook; cash generation remains a key strength; reducing price target
- 25 Aug 2010 (PDF)
- Following CRH's disappointing outlook statement, we are reducing our full-year 2011 and 2012 forecasts. We are now forecasting full-year 2010 PBT of €633m (a 26% downgrade). This equates to EPS of 77.1c, 23% below our previous forecast. For 2011, we are now forecasting PBT of €685m (a 31% downgrade), which equates to EPS of 82.6c (a 29% fall).
Other Recent Research
- Davy Morning Equity Briefing - September 2nd 2010
- 02 Sep 2010 (PDF)
- Total Produce - Strong first-half performance; increasing EPS estimates
- 02 Sep 2010 (PDF)
- Tullow Oil - Growing its African footprint
- 02 Sep 2010 (PDF)
- Pernod Ricard - Full-year results preview: outlook is key
- 01 Sep 2010 (PDF)
- Irish Life & Permanent - Results better than expected; still awaiting news on banking issues
- 31 Aug 2010 (PDF)
- Grafton Group - Interim results preview; UK holds the key
- 30 Aug 2010 (PDF)
Regular Products
| Title | Date | Archive |
|---|---|---|
| Weekly Book | 01 Sep 2010 | |
| Weekly Market Comment | 30 Aug 2010 | Archive |
| Monthly Market Monitor | 02 Sep 2010 | Archive |
| Davy on the Irish Economy | 28 Apr 2010 | Archive |