Broker tips: Barclays, Sage, United Utilities

26th Apr 2013 12:49

Tradenext has recommended investors to pick up shares of banking giant Barclays at current levels, highlighting the company's M&A business and 'Transform Programme'.Barclays' shares dipped below 290p on Friday morning after rising to an intraday high of 305p on Wednesday after its first-quarter results. Tradenext said that any weakness below 290p is a "genuine buying opportunity".Panmure Gordon has kept its 'hold' rating and 309p target price for accountancy software group Sage ahead of its interim results in May."We think that Sage's numbers should be in line - despite muted guidance - and any changes to estimates are likely to be minimal. Despite the fact that profit-taking seems a reasonable outcome on results day, we nonetheless retain our 'hold'."UBS has downgraded its rating for United Utilities from 'buy' to 'neutral' on the back of its negative exposure to regulator change."UU's negative exposure to regulatory change is higher than its listed peers in both base- and worst-case scenarios, but it looks fairly valued at current levels. We see UU's dividend at risk of a -10%-plus rebasing post 2015. Upside risk through M&A remains a possibility, although unlikely, in our opinion."BC