Company News

BUZZ-HomeServe: Shares gain on UBS upgrade; Stifel maintains stock as "top pick"

** British home repairs provider HomeServe shares up 6.5 pct, stock top pct gainer on the FTSE Midcap Index

** Stock rises as much as 7.6 pct, its biggest intraday pct gain in nearly a year after positive analyst comments ahead of HSV’s prelim FY results on May 22

** Analysts at UBS upgrade the stock to “buy” from “neutral”, raise PT to 930 pence from 890 pence on expectation that international expansion will hit targets early and reassuring UK earnings

** Customer numbers could potentially double within 5yrs and new home improvement ‘platform’ holds significant potential, UBS analysts say

** Stifel, which says HSV remains one of its top picks in the sector, said it continue to see a significant growth trajectory in the US, with the UK and Mainland Europe providing a stable base

** Stifel says it expect good progress when HomeServe report prelims on Tuesday, adding that HomeServe as ideally placed to drive further profitable growth as market leader in the nascent home assistance market

** HSV shares have risen ~16 pct in the past 12 months