Rightmove, Flutter Entertainment and Watches of Switzerland are among the companies under the spotlight this week.
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1. ConvaTec – BUY
Symbol: CTEC.L
Index: FTSE 100
The medical products company has delivered results that were slightly ahead of expectations and reassured investors.
Seb Jantet, an analyst at Liberum, believes the shares are undervalued and has reiterated his ‘buy’ recommendation on the stock.
“We remain attracted to ConvaTec’s combination of highly defensive revenues and the ability to materially improve margins,” he said.
2. Watches of Switzerland – BUY
Symbol: WOSG.L
Index: FTSE 250
The watch seller has enjoyed strong, global sales growth and is expected to benefit from strong demand over the next few months.
There is a long waiting list for certain watches, which underpins forecasts, according to Jonathan Pritchard, an analyst at Peel Hunt.
“WOSG is a favoured UK (and US) retailer of the key watch brands,” commented Pritchard.
“The relationship with Rolex is crucial and has never been stronger.”
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3. Rightmove – HOLD
Symbol: RMV.L
Index: FTSE 100
The property portal’s full-year 2022 results has revealed another strong performance, along with a robust outlook and a plan to invest in growth opportunities.
Roddy Davidson, an analyst at Shore Capital, has branded it a “quality business” and forecasts attractive growth, despite the macro headwinds – but he also has concerns.
“Our fair value estimate of 551p suggests there is more upside potential elsewhere,” he said.
4. Flutter Entertainment – BUY
Symbol: FLTR.L
Index: FTSE 100
The sports betting company, which was created by the merger of Paddy Power and Betfair, has delivered decent fourth-quarter figures.
According to Ivor Jones, an analyst at Peel Hunt, the results provide a promising platform for growth over the next year.
“The International business is now largely in markets where Flutter is a leader or in strong growth,” commented Jones.
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5. Domino’s Pizza Group – SELL
Symbol: DOM.L
Index: FTSE 250
The pizza chain has enjoyed a strong end to 2022, with sales bolstered by delivery charges, the Just Eat rollout and the World Cup.
This year has also started well but Wayne Brown, an analyst at Liberum, has doubts about whether the pace of improvements can be maintained.
“We struggle to see the like-for-like performance continuing for the rest of the year given consumers’ budgets will be stretched further from April,” he said.
The information included in this article does not constitute regulated financial advice. You should seek independent, professional financial advice before making any investment decision.
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