FTSE 250 movers: Dechra Pharmaceuticals lifted by broker upgrade

23rd Sep 2013 14:48

Veterinary pharmaceuticals group Dechra Pharmaceuticals got a boost after it booked more than a 50 per cent increase in full year revenue, which was slightly ahead of expectations at Investec. The broker upgraded the stock from 'add' to 'buy' and raised its target price from 708p to 788p, saying "re-working our valuation methodology for the increased detail [following last week's results] we now have suggests a much higher value than we first thought."Drinks group A.G BARR gained after half-year profits rose 12% as a warm UK summer helped drive sales of soft drinks. Numis and Canaccord Genuity both raised their ratings for the stock this morning to 'add' and 'buy', respectively.Meanwhile, Esure let go of some of last week's gains (it rose 35p to 263p), which helped the company recover from the plummet it suffered earlier in the year following its interim results. Mining stocks were broadly lower today despite Citigroup raising target prices across the board. The bank however said it sees "limited scope for additional earnings upgrades" amongst the large UK-listed miners following a recent re-rating in the sector. Evraz and Centamin were notable fallers on the FTSE 250. FTSE 250 - RisersVesuvius (VSVS) 450.50p +4.23%Dechra Pharmaceuticals (DPH) 723.00p +4.10%Alent (ALNT) 352.70p +3.74%Essar Energy (ESSR) 132.50p +3.19%SEGRO (SGRO) 307.60p +2.74%Daejan Holdings (DJAN) 3,750.00p +2.68%Britvic (BVIC) 568.50p +2.52%PZ Cussons (PZC) 416.20p +2.26%Unite Group (UTG) 376.00p +2.12%Menzies(John) (MNZS) 790.00p +2.07%FTSE 250 - Fallersesure Group (ESUR) 251.10p -4.42%Evraz (EVR) 132.10p -3.29%Moneysupermarket.com Group (MONY) 146.40p -2.72%Enterprise Inns (ETI) 142.10p -2.67%Computacenter (CCC) 502.00p -2.52%Ted Baker (TED) 1,862.00p -2.46%Investec (INVP) 405.50p -2.19%Cairn Energy (CNE) 262.50p -1.98%Fisher (James) & Sons (FSJ) 1,088.00p -1.98%Centamin (DI) (CEY) 44.64p -1.89%NR