FTSE 250 movers: Aston Martin goes into reverse after Jefferies cuts TP

17th Jun 2024 14:20

(Sharecast News) - FTSE 250 (MCX) 20,144.33 0.12%

Jefferies cut its price target on Aston Martin Lagonda shares on Monday to 250p from 275p as it pointed to reduced earnings and delayed deleveraging.

The bank, which rates the shares at 'buy', said Aston Martin ""continues to test investor patience", with the second quarter set to deliver earnings on par with Q1 leading management to draw down recently expanded credit lines.

"Meanwhile, initial feedback on new products and lean dealer inventories also create a supportive environment to ramp new models," it said.

SSP was weaker after a downgrade to 'sell' from 'neutral' at Goldman Sachs, which slashed the price target to 160p from 255p.

Greencore shares were lower after the company recalled a number of sandwiches with salad leaves sold in major supermarkets amid an E.coli scare.

Market Movers

FTSE 250 - Risers

Crest Nicholson Holdings (CRST) 250.20p 3.39%

W.A.G Payment Solutions (WPS) 66.60p 2.46%

SThree (STEM) 421.00p 2.31%

TUI AG Reg Shs (DI) (TUI) 586.50p 2.27%

Endeavour Mining (EDV) 1,643.00p 2.05%

Elementis (ELM) 143.80p 1.99%

C&C Group (CDI) (CCR) 157.20p 1.95%

WH Smith (SMWH) 1,178.00p 1.90%

AJ Bell (AJB) 374.50p 1.77%

TI Fluid Systems (TIFS) 130.20p 1.72%

FTSE 250 - Fallers

Aston Martin Lagonda Global Holdings (AML) 140.20p -4.30%

Harbour Energy (HBR) 287.30p -3.46%

Wizz Air Holdings (WIZZ) 2,330.00p -3.32%

Trustpilot Group (TRST) 204.00p -3.32%

PPHE Hotel Group Ltd (PPH) 1,275.00p -3.04%

SSP Group (SSPG) 165.30p -1.96%

Mitie Group (MTO) 115.20p -1.87%

Investec (INVP) 546.00p -1.71%

Watches of Switzerland Group (WOSG) 382.60p -1.70%

CMC Markets (CMCX) 253.50p -1.55%