FTSE 250 movers: Pets at Home gets upgrade boost; Chilly for Baltic

3rd Jun 2024 15:41

(Sharecast News) - FTSE 250 (MCX) 20,896.33 0.80%

Pets at Home rallied on Monday as Liberum upgraded its stance on the shares to 'buy' from 'hold' and lifted the price target to 360p from 290p.

"We have rightly been holders since Jan'23 but now see several reasons to move to buy," it said.

"Yes, current trading is not great, but this should change as we move through the year."

Liberum said the new digital platform - "think Amazon, then think Prime and then overlay services (grooming + vets)" - is an immersive integrated platform that should lead to enhanced customer experience driving share of wallet, increase loyalty and frequency.

"The strength of the business and its cashflow profile more than underpins the current valuation and we move to buy as prospects for upgrades are now a lot clearer," it said.

JPMorgan Cazenove upgraded Quilter to 'overweight' from 'neutral' on Monday as it took a look at UK wealth managers.

"After a very challenging period for UK wealth managers, we believe that the combination of improving flows, high earnings per share growth, and fading regulatory headwinds will lead to improving sentiment and positive share price performance," JMP said.

Baltic Classifieds slumped on Monday after Antler, which is controlled by funds advised by Apax, sold 40m shares in a placing.

Market Movers

FTSE 250 - Risers

Ferrexpo (FXPO) 45.25p 8.90%

Pets at Home Group (PETS) 319.00p 7.70%

Auction Technology Group (ATG) 556.00p 6.51%

TUI AG Reg Shs (DI) (TUI) 569.50p 5.86%

Essentra (ESNT) 173.60p 5.21%

Discoverie Group (DSCV) 763.00p 4.81%

Wizz Air Holdings (WIZZ) 2,400.00p 4.71%

Bakkavor Group (BAKK) 146.00p 4.29%

Aston Martin Lagonda Global Holdings (AML) 151.40p 4.27%

Quilter (QLT) 122.70p 4.16%

FTSE 250 - Fallers

Baltic Classifieds Group (BCG) 243.50p -5.07%

Energean (ENOG) 1,167.00p -2.18%

Harbour Energy (HBR) 323.10p -2.09%

Endeavour Mining (EDV) 1,692.00p -1.46%

Indivior (INDV) 1,424.00p -1.45%

CMC Markets (CMCX) 277.50p -1.42%

Hochschild Mining (HOC) 184.20p -1.29%

HarbourVest Global Private Equity Limited A Shs (HVPE) 2,365.00p -1.05%

Oxford Instruments (OXIG) 2,475.00p -1.00%

Barr (A.G.) (BAG) 617.00p -0.96%