value indicator - uk main market 20130816

7/27/2019 value indicator - uk main market 20130816

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16 August 2013

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Intellisys Intelligent Analysis Limited 16 August 2013

www.intellisys.uk.com +44 20 3239 8994 Page 2 of 17

Contents

Introduction .................................................................................................................................3Value ...........................................................................................................................................4Conclusion ..................................................................................................................................4RISK WARNING Ratings and Targets ....................................................................................4How to use the report .................................................................................................................5Aerospace & Defence Under Valued .....................................................................6Automobiles & Parts Under Valued ......................................................................6Banks Over Valued .........................................................................................6Beverages Under Valued ..................................................................................6Chemicals Under Valued ..................................................................................6Construction & Building Materials Under Valued ....................................................7Electronics & Electrical Equipment Under Valued ..................................................7Engineering & Machinery Under Valued ...............................................................8Food & Drug Stores Over Valued .......................................................................8Food Producers & Processors Over Valued ........................................................8General Retail Under Valued ..............................................................................9Health Over Valued .........................................................................................9Household Goods & Textiles Over Valued ..........................................................9Information Technology & Hardware Over Valued ...............................................9Insurance Under Valued ................................................................................... 10Leisure & Hotels Over Valued ..................................................................... 10Life Assurance Under Valued .................................................................... 10Media & Entertainment Under Valued ................................................................ 11Mining Under Valued ...................................................................................... 11Oil & Gas Under Valued ................................................................................... 11Personal Care & Household Products Over Valued .......................................... 12Pharmaceuticals & Biotechnology Under Valued ................................................ 12Real Estate - REIT Under Valued ..................................................................... 12Real Estate REIS Under Valued ..................................................................... 13Software & Computer Services Under Valued .................................................... 13Speciality & Other Finance Under Valued .......................................................... 13Support Services Under Valued ..................................................................... 14Telecommunication Services Over Valued ....................................................... 14Transport Over Valued ................................................................................... 15Utilities Under Valued ....................................................................................... 15DISCLAIMER ........................................................................................................................... 16RISK WARNING ...................................................................................................................... 17


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Introduction

The overriding purpose of this daily report is to provide users with a quick guide that will identify thoseshares that merit their investment attention in an increasingly time critical and information noisy tradingenvironment.

The report is published daily and delivered to the subscribers personal email box, typically, before theofficial open of the London Stock Markets.

Putting aside luck, Intellisys recognises that the timing and value of an investment are the two primarydrivers behind a successful portfolio performance.

Timing

Intellisys has invested considerably in identifying what it believes are the key factors that influenceinvestment timing. Having identified the key parameters, these have been established as rules that reflectmarket dynamics and cut through the daily investment noise.

Through this discipline, Intellisys has removed the emotional and sentimental factors as well as the dailypressures exerted upon primary stock promoters (analysts and traders) to find stories for their investmentmeetings.

From an analysis of a years data for 40 stocks within Intellisys stock coverage, the trading indicatorsappear to be, on average, about 77% accurate in identifying good trading points as well as some 74%accurate for overall trend correlation.

The following chart provides an indication the accuracy scores for each of the 40 stocks analysed.

Individual Stock Rating & Trend Accuracy Scores

Source: Intellisys

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120.0%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

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120.0%

Best Buy/Sell Trend


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How to use the report

This daily report is typically available for download as a PDF from 7am - well in advance of the marketsopen - and is based upon previous days closing prices.

We have kept the report deliberately simple for quick reading and identification of the shares most likely tobe active as can be seen from the following:

General RetailStock Price 12M Lo 12M Hi ST Rec LT Rec Target Beta

ASHLEY(LAURA) HOLDINGS 29.00 18.50 29.50 Neutral Neutral 30 0.72

BROWN (N) GROUP 266.70 222.40 282.70 Neutral Buy 298 0.52

BURBERRY GROUP 1136.00 1000.00 1586.00 Neutral Sell 739 1.30

CARPETRIGHT 675.00 375.00 728.50 Neutral Sell 268 0.97

DIXONS RETAIL 21.16 9.36 21.69 Neutral Strong Buy 38 1.56

FINDEL 6.36 2.20 6.55 Neutral Sell 4 0.94

FRENCH CONNECTN.GROUP 23.50 19.50 82.00 Neutral Strong Buy 112 1.05

HALFORDS GROUP 324.70 189.00 342.30 Neutral Buy 415 0.67

JJB SPORTS SUSP - 24/09/12 0.40 0.24 17.00 Neutral Sell -62 0.88

JD SPORTS FASHION 731.00 570.00 863.00 Neutral Strong Buy 1341 0.47

DARTY 57.25 38.00 110.60 Neutral Strong Buy 321 1.28

KINGFISHER 269.80 237.20 313.80 Neutral Buy 365 0.97

MARKS & SPENCER GROUP 377.90 302.70 389.50 Neutral Buy 448 0.74

MOSS BROTHERS GROUP 55.00 31.25 55.00 Sell Buy 61 1.04

MOTHERCARE 212.00 127.30 227.00 Neutral Sell 97 0.44

NEXT 3576.00 2540.00 3644.00 Neutral Sell 2798 0.72

TED BAKER 951.50 633.00 1017.00 Neutral Sell 542 0.56

TOPPS TILES 49.25 21.50 51.75 Neutral Sell 29 1.31

Betais a measure of a stock's volatility or risk relative to its market. The market has a betaof 1.0 and individual shares are attributed a beta according to how much they deviate from

the market. This can be summarised as:

eta 1.0 Share should move by more than market (i.e., higher risk/higher reward)

Sector

Closing price

Todays action

Longer term action basedupon implied target price

Implied target

price based upon49 valuation

Company Latest 12 month Hi/Lo forthe share price

eta measures a sharesvolatility/risk relative tomarket (see below)


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Aerospace & Defence Under Valued

Stock Price 12M Lo 12M Hi ST Rec LT Rec Target BetaBAE SYSTEMS 442.50 300.80 455.40 Neutral Buy 604 0.71

CHEMRING GROUP 304.20 217.00 414.70 Neutral Buy 365 0.66

COBHAM 287.60 190.10 307.70 N eu tra l Neu tral 298 0.85

MEGGITT 533.50 366.20 562.00 N eu tra l Neu tral 522 1.28

ROLLS-ROYCE HOLDINGS 1123.00 7 99.39 1 240.00 N eu tra l Neu tral 1141 1.00

SMITHS GROUP 1302.00 1011.00 1397.00 Neutral Sell 1150 0.77

ULTRA ELECTRONICS HDG. 1940.00 1 505.00 1981.00 Neutral Sell 1702 0.52

Automobiles & Parts Under Valued

Stock Price 12M Lo 12M Hi ST Rec LT Rec Target Beta

GKN 339.60 201.00 354.00 N eu tra l Neu tral 335 1.97

INCHCAPE 620.00 353.30 645.00 N eu tra l Neu tral 636 1.42

LOOKERS 121.50 68.75 128.50 Neutral Sell 112 1.22

PENDRAGON 30.75 13.50 30.75 Neutral Buy 44 1.09

Banks Over Valued


BARCLAYS 284.30 181.25 333.85 Neutral Sell -837 1.95

HSBC HDG. (ORD $0.50) 711.00 541.00 769.90 Neutral Buy 877 1.18

LLOYDS BANKING GROUP 75.05 32.89 77.14 Neutral Sell 1 1.86

ROYAL BANK OF SCTL.GP. 340.60 220.70 367.80 Neutral Sell -120 1.39

STANDARD CHARTERED 1541.50 1364.00 1 837.50 Neutral Strong Buy 3463 1.64

Beverages Under Valued


BARR (AG) 555.50 415.00 588.50 Neutral Sell 490 0.58

DIAGEO 2014.00 1672.50 2136.50 Neutra l Neutral 2189 0.54

SABMILLER 3118.50 2599.00 3657.00 Neutral Buy 4246 0.91

Chemicals Under Valued


ALENT 336.40 305.00 397.50 Neutral Buy 454 #NA

AZ ELECTRONIC MATS.(DI) 303.50 240.00 406.40 Neutral Strong Buy 555 1.12

CARCLO 362.50 342.75 501.00 Neutral Sell 145 0.74

CRODA INTERNATIONAL 2553.00 2164.00 2841.00 Neutral Buy 3203 1.05

ELEMENTIS 259.00 204.20 275.00 Neutral Buy 311 1.07

JOHNSON MATTHEY 2792.00 2190.00 2887.00 Neutral Strong Buy 4325 1.43

VICTREX 1524.00 1309.00 1765.00 Neutral Sell 1341 1.16

SYNTHOMER 229.30 141.80 229.30 Neutral Strong Buy 398 1.10

ZOTEFOAMS 199.00 178.50 225.00 Neutral Strong Buy 299 1.00


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Construction & Building Materials Under Valued


ALUMASC GROUP 116.00 71.50 118.50 Neutral Strong Buy 278 0.56

BALFOUR BEATTY 226.00 207.60 320.80 Neutral Strong Buy 1093 0.83

BARRATT DEVELOPMENTS 301.20 145.90 355.20 Neutral Strong Buy 614 1.70

BELLWAY 1338.00 869.00 1502.00 Neutral Strong Buy 2871 1.02

BERKELEY GROUP HDG.(THE) 2086.00 1387.00 2340.00 Neutral Strong Buy 3478 0.58

BOOT (HENRY) 184.00 123.50 201.00 Neutral Strong Buy 364 0.75

BOVIS HOMES GROUP 723.50 473.20 851.50 Neutral Strong Buy 1443 1.11

CARILLION 283.40 244.80 331.80 Neutral Strong Buy 1549 1.09

CLARKE (T) 58.75 40.00 61.50 Neutral Strong Buy 388 0.80

COSTAIN GROUP 283.00 219.75 306.00 Neutral Strong Buy 1136 0.52

CRH 1440.00 1090.00 1540.00 Neutral Sell 868 1.04

GALLIFORD TRY 957.00 621.00 1020.00 Neutral Strong Buy 2964 0.97

KELLER 976.00 491.00 1161.00 Neutral Strong Buy 2392 1.29

KIER GROUP 1498.00 1106.00 1528.00 Neutral Strong Buy 5357 1.01

LOW & BONAR 67.75 50.00 76.75 Neutral Strong Buy 226 1.06MARSHALLS 153.25 81.00 155.00 Neutral Buy 206 1.33

MORGAN SINDALL GROUP 674.00 508.00 695.00 Neutral Strong Buy 4557 0.71

NORCROS 17.00 11.25 18.25 Neutral Strong Buy 61 1.05

PERSIMMON 1097.00 637.67 1305.00 Neutral Strong Buy 2006 1.02

REDROW 229.60 135.30 255.10 Neutral Strong Buy 458 0.90

SIG 178.00 94.15 188.00 Neutral Strong Buy 531 1.70

SUPERGLASS HOLDINGS 46.50 43.00 287.50 Sell Strong Buy 4250 0.89

TAYLOR WIMPEY 101.70 50.25 113.80 Neutral Strong Buy 228 1.61

TRAVIS PERKINS 1553.00 1013.00 1713.00 Neutral Strong Buy 4428 1.95

WOLSELEY 3146.00 2484.55 3483.00 Neutral Strong Buy 6043 1.35

Electronics & Electrical EquipmentUnder Valued


DIALIGHT 1328.00 999.50 1365.00 Neutral Sell 1072 0.69

DOMINO PRINTING SCIENCES 671.50 522.00 717.00 Neutral Buy 900 1.14

E2V TECHNOLOGIES 128.00 105.50 137.75 Neutral Strong Buy 280 1.27

INVENSYS 495.20 217.33 509.50 Neutral Sell 278 1.40

LAIRD 213.00 171.10 249.30 Neutral Strong Buy 451 2.10

OXFORD INSTRUMENTS 1461.00 1209.00 1752.00 Neutral Sell 1318 1.11

RENISHAW 1701.00 1494.00 2081.00 Neutral Buy 2113 1.29

SPECTRIS 2226.00 1549.00 2470.00 Neutral Buy 2869 1.53

BIOME TECHNOLOGIES 97.13 65.00 303.67 Neutral Sell -481 0.77

TT ELECTRONICS 185.00 114.00 191.50 Neutral Strong Buy 436 1.61

XAAR 816.00 227.00 898.00 Neutral Sell 427 1.06


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Engineering & Machinery Under Valued


AGA RANGEMASTER GROUP 106.00 54.25 106.00 Neutral Buy 137 1.19

BODYCOTE 618.00 337.60 644.00 Neutral Neutral 625 1.60

CASTINGS 433.25 291.00 443.50 Neutral Strong Buy 665 0.95

VESUVIUS 455.00 263.19 480.00 Neutral Strong Buy 1086 2.23

FENNER 357.70 305.90 435.20 Neutral Strong Buy 547 1.45

HALMA 560.50 405.80 578.00 Neutral Sell 407 0.78

HILL & SMITH 420.50 324.50 480.00 Neutral Buy 529 1.32

IMI 1417.00 837.50 1445.00 Neutral Strong Buy 4479 1.41

MORGAN ADVANCED MATERIAL 305 .10 220 .30 318 .00 Neutral Strong Buy 505 1.90

ROTORK 2831.00 2157.00 3037.00 Neutral Sell 119 1.00

SENIOR 270.50 185.90 284.90 Neutral Sell 244 1.66

SEVERFIELD-ROWEN 55.50 35.40 80.16 Neutral Sell 44 0.79

SPIRAX-SARCO 2962.00 1932.53 2981.00 Neutral Sell 2108 0.84

VITEC GROUP 599.00 559.00 740.00 Neutral Sell 464 1.37

WEIR GROUP 2217.00 1566.00 2474.00 Neutral Neutral 2167 1.44

Food & Drug Stores Over Valued


GREGGS 398.70 392.10 523.50 Neutral Strong Buy 769 0.44

MORRISON(WM)SPMKTS. 287.90 248.60 296.40 Neutral Buy 383 0.39

SAINSBURY (J) 384.50 321.90 398.50 Neutral Buy 468 0.56

TESCO 367.00 307.90 387.75 Neutral Sell 193 0.68

THORNTONS 84.75 23.50 100.50 Neutral Sell 54 0.79

Food Producers & Processors Over Valued


ASSOCIATED BRIT.FOODS 1892.00 1267.00 2 031.00 Neutral Sell 1638 0.61

CRANSWICK 1120.00 732.50 1178.00 Neutral Strong Buy 1773 0.33

DAIRY CREST 506.00 332.90 528.50 Neutral Sell 375 0.91

DEVRO 314.40 289.90 380.00 Neutral Strong Buy 513 0.37

PREMIER FOODS 102.00 54.50 125.75 Neutral Strong Buy 246 1.26

TATE & LYLE 817.50 634.50 883.00 Neutral Strong Buy 1355 0.67

UNILEVER (UK) 2569.00 2235.00 2885.00 Neutral Sell 2190 0.50


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General Retail Under Valued


ASHLEY(LAURA) HOLDINGS 26.25 22.13 29.50 Neutral Buy 38 0.66

BROWN (N) GROUP 527.00 266.40 542.50 Neutral Sell 455 0.51

BURBERRY GROUP 1593.00 1000.00 1593.00 Neutral Sell 1224 1.29

CARPETRIGHT 641.00 585.00 701.50 Neutral Sell 348 0.90

DIXONS RETAIL 41.16 17.00 46.33 Neutral Buy 46 1.46

FINDEL 216.00 90.00 220.00 Neutral Sell 58 1.06

FRENCH CONNECTN.GROUP 31.75 20.63 34.00 Sell Strong Buy 110 1.01

HALFORDS GROUP 351.70 234.50 405.20 Neutral Buy 508 0.71

JD SPORTS FASHION 937.00 651.00 963.00 Neutral Strong Buy 1743 0.49

DARTY 75.50 39.00 81.75 Neutral Buy 110 1.23

KINGFISHER 382.60 262.20 404.90 Neutral Buy 444 0.91

MARKS & SPENCER GROUP 454.20 352.70 488.80 Neutral Buy 635 0.60

MOSS BROTHERS GROUP 64.00 44.75 71.00 Neutral Buy 73 0.97

MOTHERCARE 429.00 202.00 492.75 Neutral Sell 156 0.38

NEXT 4812.00 3320.00 5030.00 Neutral Buy 5298 0.61

TED BAKER 1890.00 899.00 1973.00 Neutral Sell 963 0.56

TOPPS TILES 84.50 46.00 89.75 Neutral Sell 75 1.51

Health Over Valued


BIOQUELL 134.00 129.50 160.00 Neutral Sell 113 0.39

CONSORT MEDICAL 825.00 660.50 839.00 Neutral Sell 574 0.35

OPTOS 167.00 106.75 222.75 Neu tral Neu tral 173 1.17

SMITH & NEPHEW 780.50 638.00 800.00 Neutral Sell 663 0.45

Household Goods & Textiles Over Valued


GAMES WORKSHOP 776.00 601.00 794.50 Neutral Neutral 760 0.42

HEADLAM GROUP 399.50 291.00 415.00 Neutral Sell 335 0.88

HORNBY 81.50 55.25 88.50 Neutral Buy 114 0.70

Information Technology & Hardware Over Valued


ARM HOLDINGS 874.50 528.00 1097.00 Neutral Sell 287 0.73

CSR 503.50 308.10 607.00 Neutral Strong Buy 1568 1.13FILTRONIC 64.75 29.50 83.25 Neutral Sell 56 0.94

IMAGIN AT ION TECHNOLOGIES 281 .40 235 .10 624 .00 Neutral Buy 327 1.04

SPIRENT COMMUNICATIONS 133.80 118.00 170.00 Neutral Strong Buy 248 0.94

WOLFSON M ICR OELECTR ONICS 159 .25 140 .00 230 .00 Neutral Sell -199 0.94


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Insurance Under Valued


ADMIRAL GROUP 1279.00 1019.00 1416.00 Neutral Sell -414 0.52

AMLIN 384.10 364.10 435.10 Neutral Strong Buy 1494 0.40

BEAZLEY 205.20 162.20 242.70 Neutral Strong Buy 929 0.50

CATLIN GROUP 470.10 450.10 552.50 Neu tral Neu tral 463 0.22

HISCOX 636.50 459.54 660.00 Neutral Strong Buy 1861 0.46

JARDINE LLOYD THOMPSON 902.50 723.00 921.50 Neutral Buy 1207 0.32

RSA INSURANCE GROUP 120.30 107.70 136.30 Neutral Strong Buy 706 0.39

NOVAE GROUP 497.00 345.00 507.50 Neutral Strong Buy 3339 0.38

Leisure & Hotels Over Valued


CARNIVAL 2461.00 2092.00 2628.00 Neutral Buy 3460 0.95

ENTERPRISE INNS 144.30 55.75 152.20 Neutral Sell 108 1.64

TUI TRAVEL 362.70 206.30 401.50 Neutral Strong Buy 712 0.96

FULLER SMITH 'A' 929.50 700.50 965.00 Neutral Sell 599 0.26

GREENE KING 802.50 556.50 897.50 Neutral Sell 614 0.88

LADBROKES 187.30 168.90 243.10 Neutral Buy 259 0.87

ICTL.HTLS.GP. 1932.00 1524.00 2039.00 Neutral Sell 1657 1.10

MILLENNIUM & CPTH.HTLS. 538.50 456.00 582.50 Neu tral Neu tral 577 1.34

MITCHELLS & BUTLERS 405.00 262.70 430.40 Neutral Sell 269 1.00

BWIN PARTY DIGITAL ENTM. 128.70 91.90 156.00 Neutral Sell 61 1.24

PUNCH TAVERNS 13.00 6 .15 13.75 Neutral Strong Buy 73 1.16

RANK GROUP 158.50 125.70 177.50 Neutral Strong Buy 566 0.96

RESTAURANT GROUP 520.50 320.30 570.00 Neutral Sell 385 0.70

WETHERSPOON (JD) 710.00 447.90 767.00 Neu tral Neu tral 682 0.57

WHITBREAD 3073.00 2096.00 3303.00 Neutral Sell 2155 0.97WILLIAM HILL 426.60 271.02 494.50 Neutral Sell 253 0.80

MARSTON'S 152.80 109.90 164.50 Neutral Sell 10 1.16

Life Assurance Under Valued


AVIVA 404.30 294.10 404.90 Sell Sell 367 1.18

CHESNARA 258.75 169.00 270.00 Neutral Strong Buy 528 0.64

LEGAL & GENERAL 198.10 128.00 201.90 Neutral Strong Buy 502 1.69

OLD MUTUAL 194.80 165.10 221.60 Neutral Strong Buy 405 1.52

PRUDENTIAL 1190.00 770.00 1232.00 Neu tral Neu tral 1204 1.66

ST.JAMES'S PLACE 617.50 336.20 641.50 Neutral Strong Buy 6907 0.84


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Media & Entertainment Under Valued


BLOOMSBURY PBL. 140.50 102.00 146.50 Neutral Strong Buy 922 0.42

BRITISH SKY BCAST.GROUP 830.00 709.00 899.50 Neutral Strong Buy 1056 0.47

CENTAUR MEDIA 41.50 31.00 60.00 Neutral Sell -42 1.06

DAILY MAIL 'A' 790.00 451.25 835.00 Neutral Strong Buy 3556 1.07

EUROMONEY INSTL.INVESTOR 1104.00 747 .50 1105.00 Neutral Strong Buy 5566 0.96

INFORMA 511.00 380.50 541.50 Neutral Strong Buy 327 1.63

ITE GROUP 283.30 183.50 307.40 Neutral Buy 201 1.44

ITV 156.60 82.00 168.60 Neutral Strong Buy 1369 1.46

JOHNSTON PRESS 17.13 5.20 19.00 Neutral Buy 720 1.20

PEARSON 1313.00 1119.00 1350.00 Neutral Neutral 309 0.65

PHOTO-ME INTL. 97.00 42.75 99.00 Neutral Strong Buy 2283 0.86

PINEWOOD SHEPPERTON 286.50 269.00 288.50 Neutral Strong Buy 732 0.13

THOMSON REUTERS 35.84 26.85 36.45 Neutral Strong Buy 346 0.52

STV GROUP 157.50 81.50 157.50 Neutral Sell 240 0.82

ST.IVES 164.50 73.25 170.00 Neutral Sell 159 1.48TRINITY MIRROR 112.75 36.75 122.25 Neutral Sell -289 1.59

UBM 706.00 636.00 788.00 Neutral Strong Buy 1421 1.33

WILMINGTON GROUP 190.75 103.00 190.75 Neutral Strong Buy 1390 0.85

WPP 1168.00 788.00 1210.00 Neutral Sell -827 1.27

Mining Under Valued


ANGLO AMERICAN 1495.50 1207.00 2084.00 Neutral Sell 1289 1.84

ANGLO PACIFIC GROUP 198.25 161.00 290.00 Neu tral Neu tral 216 1.07

ANTOFAGASTA 930.00 784.50 1381.00 Neutral Sell 869 1.42

BHP BILLITON 1975.50 1666.50 2236.00 Neutral Strong Buy 3040 1.48

GLENCORE XSTRATA 301.80 256.85 397.85 Neutral Strong Buy 1047 #NA

LONMIN 346.80 240.84 380.10 Sell Buy 447 2.08

RANDGOLD RESOURCES 4890.00 3972.00 7 775.00 Neutral Sell 2962 0.47

RIO TINTO 3103.00 2582.00 3757.00 Neutral Sell 2521 1.53

VEDANTA RESOURCES 861.00 1335.00 Neutral Strong Buy 2880 2.24

Oil & Gas Under Valued


BG GROUP 1178.00 1000.50 1350.50 Neutral Sell 896 0.84

BP 441.20 416.60 483.30 Neutral Strong Buy 1008 1.02

CAIRN ENERGY 277.50 251.80 300.20 Neutral Sell -30 1.33

FORTUNE OIL 8.52 7.15 12.50 Neutral Strong Buy 114 0.84

HUNTING 871.00 716.00 941.00 Neutral Sell 579 1.35

JKX OIL & GAS 68.25 48.50 89.75 Neutral Sell -60 1.35

PREMIER OIL 360.50 321.30 400.20 Neutral Buy 407 1.45

ROYAL DUTCH SHELL B 2125.50 2098.00 2365.00 Neutral Strong Buy 8266 0.83

SOCO INTERNATIONAL 371.00 319.90 404.30 Neutral Buy 456 0.53

TULLOW OIL 1033.00 977.00 1468.00 Neutral Sell 695 1.05

WOOD GROUP (JOHN) 892.00 720.50 915.50 Neutral Sell 729 1.44


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Personal Care & Household Products Over Valued


MCBRIDE 128.25 101.00 144.60 Neutral Strong Buy 267 0.84

PZ CUSSONS 406.10 297.20 415.60 Neutral Sell 335 0.70

RECKITT BENCKISE R GROUP 4489.00 3536.00 4950.00 Neutral Neutral 4543 0.30

Pharmaceuticals & Biotechnology Under Valued


ARK THERAPEUTICS GP. 0.50 0.36 3.58 Buy Sell -3 0.91

ASTRAZENECA 3192.50 2792.50 3521.50 Neutral Strong Buy 8930 0.51

BTG 385.10 300.30 397.90 Neutral Sell 212 0.73

DECHRA PHARMACEUTICALS 669.50 4 73.00 780.00 Neutral Buy 924 0.18

GLAXOSMITHKLINE 1657.50 1317.50 1782.00 Neutral Buy 1905 0.52

OXFORD BIOMEDICA 1.43 1.33 2.80 Buy Sell -2 0.57

PHYTOPHARM SUSP - 21/05/13 1.33 1.05 12.75 Buy Sell -5 0.93

SHIRE 2370.00 1727.00 2442.00 Neutral Sell 1521 0.70

SKYEPHARMA 83.25 43.50 100.50 Neutral Buy 103 0.66

VERNALIS 24.75 19.38 27.38 Neutral Sell 11 0.86

Real Estate - REIT Under Valued


BIG YELLOW GROUP 434.80 300.00 445.00 Neutral Buy 643 1.18

BRITISH LAND 570.50 506.00 658.00 Neutral Buy 754 1.05

DERWENT LONDON 2336.00 1890.00 2542.00 Neutral Strong Buy 4420 1.23

GREAT PORTLAND ESTATES 534.50 42 9.70 598.00 Neutral Strong Buy 1019 1.06

HAMMERSON 499.80 448.60 554.00 Neutral Neutral 500 1.24

INTU PROPERTIES 310.00 300.60 366.00 Neutral Strong Buy 492 1.13

LAND SECURITIES GROUP 892.00 761.50 994.00 Neutral Strong Buy 1585 1.15

LOCAL SHOP.REIT (THE) 25.25 24.25 40.75 Buy Sell -141 0.81

LONDONMETRIC PROPERTY 113.10 1 03.20 121.40 Neutral Sell -3 0.33

MCKAY SECURITIES 150.00 131.50 155.00 Neutral Strong Buy 245 0.66

MUCKLOW (A & J) GROUP 400.00 325.00 454.50 Neutral Sell 231 0.39

PRIMARY HEALTH PROPS. 330.25 312.50 363.53 Neutral Sell 93 0.30

REDEFINE INTL.REIT 44.00 28.76 44.75 Neutral Sell -343 0.64

SEGRO 302.10 221.60 313.60 Neutral Sell -240 1.81

SHAFTESBURY 613.50 516.00 668.00 Neutral Buy 770 1.03

TOWN CENTRE SECURITIES 210.50 177.00 223.00 Neutral Sell 14 1.04

WARNER ESTATE 0.93 0.70 2.38 Neutral Sell -918 0.93

WORKSPACE GROUP 436.00 250.75 475.00 Neutral Strong Buy 1133 1.01


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Real Estate REIS Under Valued


CAPITAL & CNTS.PROPS. 334.90 210.50 365.60 Neutral Strong Buy 763 0.70

CAPITAL & REGIONAL 39.25 22.75 39.25 Neutral Sell -51 0.64

CLS HOLDINGS 1229.00 656.50 1260.00 Neutral Strong Buy 2967 0.75

DAEJAN HOLDINGS 4000.00 2706.00 4179.00 Neutral Strong Buy 7178 0.48

DEVELOPMENT SECS. 195.00 143.00 209.00 Neutral Neutral 195 0.96

GRAINGER 177.60 97.45 187.50 Neutral Sell 113 1.57

HELICAL BAR 280.00 178.00 302.50 Neutral Sell 203 0.82

LONDON & ASSOCS.PROPS. 26.25 20.50 29.75 Neutral Strong Buy 232 0.64

MOUNTVIEW ESTATES 6512.50 4350.00 6512.50 Sell Strong Buy 14682 0.69

QUINTAIN ESTATES & DEV. 89.75 51.00 92.00 Sell Sell -198 1.04

RAVEN RUSSIA 69.25 61.50 79.75 Neutral Strong Buy 213 1.48

SAVILLS 618.50 380.80 664.50 Neutral Strong Buy 2197 0.74

SMART (J) 90.50 71.50 90.50 Neutral Strong Buy 388 0.33

ST MODWEN PROPS. 305.80 193.10 333.00 Neutral Strong Buy 625 1.60

UNITE GROUP 380.10 214.75 403.00 Neutral Strong Buy 1671 1.77

Software & Computer Services Under Valued


ANITE 125.70 113.00 162.00 Neutral Neutral 127 0.67

AVEVA GROUP 2430.00 1776.97 2588.15 Neutral Sell 1503 1.49

COMPUTACENTER 512.50 333.29 564.10 Neutral Strong Buy 1161 0.89

KOFAX 338.00 260.75 347.25 Neutral Sell 306 1.06

INNOVATION GROUP 29.50 19.25 30.25 Neutral Sell 22 0.78

MICRO FOCUS INTL. 792.50 541.11 812.50 Neutral Buy 909 0.82

PHOENIX IT GROUP 157.50 130.00 222.00 Neutral Strong Buy 244 0.69

RM 85.00 64.00 85.50 Neutral Strong Buy 238 0.54

FIDESSA GROUP 2044.00 1275.00 2156.00 Neutral Neutral 2194 0.79

SAGE GROUP 352.00 289.36 368.18 Neutral Buy 441 0.69

Speciality & Other Finance Under Valued


ABERDEEN ASSET MAN. 375.00 274.60 492.10 Neutral Strong Buy 1305 1.11

BREWIN DOLPHIN 259.10 144.60 283.00 Neutral Strong Buy 691 0.70

CAMELLIA 9063.00 8000.00 11105.00 Neutral Strong Buy 101656 0.84

CHARLES STANLEY GROUP 470.00 260.00 472.00 Sell Strong Buy 1520 0.96

CHARLES TAYLOR 193.50 155.00 195.00 Neutral Strong Buy 1713 0.67

CLOSE BROTHERS GROUP 1056.00 771.00 1107.00 Neutral Strong Buy 5145 0.86

F&C ASSET MANAGEMENT 108.90 88.90 110.40 Neutral Sell 68 0.84

HELPHIRE GROUP 4.45 0.55 4.57 Sell Sell -142 0.63

HENDERSON GROUP 172.30 101.70 180.40 Neutral Strong Buy 865 1.46

ICAP 378.30 280.80 406.80 Neutral Strong Buy 860 1.04

INTERMEDIATE CAPITAL GP. 445.80 28 0.00 501.50 Neutral Strong Buy 2430 1.69

INVESTEC 431.40 358.40 513.50 Neutral Strong Buy 1802 1.57

LONDON STOCK EX.GROUP 1 55 7.00 93 0.00 1 622 .0 0 Neutral Strong Buy 6738 1.11

MAN GROUP 84.85 71.30 134.40 Neutral Sell -5345 1.36

RATHBONE BROTHERS 1591.00 1208.00 1691.00 Neutral Strong Buy 5830 0.73

SCHRODERS 2370.00 1407.00 2560.00 Neutral Strong Buy 8700 1.30

SCHRODERS NV 1889.00 1131.00 2000.00 Neutral Strong Buy 11381 1.28


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Support Services Under Valued


ACAL 255.00 157.75 266.75 Neutral Strong Buy 847 0.88

AGGREKO 1652.00 1557.00 2400.00 Neutral Strong Buy 4155 1.13

AMEC 1074.00 965.50 1172.00 Neutral Strong Buy 3296 1.09

ASHTEAD GROUP 625.50 267.10 730.00 Neutral Strong Buy 986 1.65

BABCOCK INTL. 1155.00 892.50 1209.00 Neutral Strong Buy 2601 0.49

BRITISH POLYTHENE INDS. 562.00 358.00 604.00 Neutral Strong Buy 2347 0.80

BUNZL 1343.00 1009.00 1409.00 Neutral Strong Buy 2771 0.53

UK MAIL GROUP 620.00 233.50 628.00 Sell Strong Buy 1652 0.42

CAPITA 974.50 713.00 1057.00 Neutral Sell 209 0.54

COMMUNISIS 57.00 33.67 68.00 Neutral Strong Buy 476 0.81

COMPASS GROUP 852.50 671.50 910.50 Neutral Strong Buy 1969 0.74

BERENDSEN 851.00 514.00 853.00 Sell Strong Buy 3334 1.03

DE LA RUE 995.50 891.50 1075.00 Neutral Buy 1418 #NA

DIGNITY 1488.00 899.82 1567.68 Neutral Strong Buy 3091 0.24

DIPLOMA 615.00 420.10 635.00 Neutral Strong Buy 1513 0.96

ELECTROCOMP. 262.30 200.00 278.40 Neutral Strong Buy 921 1.01ESSENTRA PLC 799.00 500.50 830.00 Neutral Strong Buy 1376 1.16

G4S 246.90 207.50 313.50 Neutral Strong Buy 879 0.53

HAYS 104.10 68.20 107.60 Neutral Strong Buy 455 1.06

HOMESERVE 240.40 185.60 293.60 Neutral Strong Buy 967 0.88

INTERSERVE 557.50 341.00 557.50 Sell Strong Buy 3671 1.26

INTERTEK GROUP 3170.00 2697.00 3453.00 Neutral Strong Buy 4759 0.80

JOHNSON SERVICE GROUP 48.50 28 .00 50.00 Neutral Strong Buy 114 1.11

MANAGEMENT CNSL.GP. 26.75 21.25 32.00 Neutral Strong Buy 215 0.63

MENZIES (JOHN) 716.00 573.00 801.00 Neutral Strong Buy 1788 1.38

MICHAEL PAGE INTL. 458.40 346.40 474.40 Neutral Strong Buy 836 1.41

MITIE GROUP 272.90 248.00 300.80 Neutral Strong Buy 1051 0.52

OFFICE2OFFICE 40.00 38.00 156.00 Neutral Strong Buy 702 0.28

PAYPOINT 1160.00 687.50 1185.00 Neutral Strong Buy 2188 0.73PREMIER FARNELL 227.50 165.50 236.30 Neutral Strong Buy 718 1.42

REGUS 178.60 96.00 193.40 Neutral Sell 56 1.40

RENTOKIL INITIAL 103.50 76.10 103.50 Neutral Strong Buy 266 1.26

REXAM 498.30 420.70 547.50 Neutral Strong Buy 1761 0.85

RICARDO 458.00 340.00 460.25 Neutral Strong Buy 1659 0.89

ROBERT WALTERS 283.00 176.25 283.50 Neutral Strong Buy 1008 1.19

RPC GROUP 458.00 378.00 477.00 Neutral Strong Buy 1513 0.80

RPS GROUP 252.80 195.50 274.20 Neutral Strong Buy 993 1.51

SERCO GROUP 606.00 535.00 683.50 Neutral Strong Buy 2356 0.59

SHANKS GROUP 89.75 73.00 98.00 Neutral Strong Buy 264 1.49

SPEEDY HIRE 57.75 23.50 64.75 Neutral Strong Buy 306 1.20

TRIBAL GROUP 200.00 87.50 202.25 Neutral Strong Buy 558 0.65

TRIFAST 56.50 40.50 59.25 Neutral Strong Buy 329 0.91

VP 422.00 295.25 427.50 Sell Strong Buy 2283 0.81

WYG 100.00 45.50 101.00 Sell Strong Buy 617 0.80

Telecommunication Services Over Valued


BT GROUP 325.60 212.50 344.00 Neutral Buy 412 0.88

CABLE & WIRELESS COMMS. 40.33 33.42 46.29 Neutral Strong Buy 77 0.68

INMARSAT 690.50 542.50 749.00 Neutral Sell 257 0.55

KCOM GROUP 83.70 68.25 88.50 Neutral Buy 117 1.21

TELECOM PLUS 1353.00 814.00 1399.00 Neutral Sell 798 0.05

VODAFONE GROUP 192.85 154.45 200.20 Neutral Sell 104 0.51


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Transport Over Valued


BBA AVIATION 294.80 187.20 307.50 Neutral Sell 228 1.24

BRAEMAR SHIPPING SVS. 445.00 350.00 460.00 Neutral Buy 583 1.05

CLARKSON 1904.00 1150.00 1909.00 Sell Sell 1309 0.85

EASYJET 1252.00 530.00 1448.00 Neutral Sell 847 0.76

FIRST GROUP 115.50 92.00 212.39 Neutral Strong Buy 275 0.91

FISHER(JAMES)& SONS 985.00 625.00 1110.00 Neutral Sell 764 0.74

GO-AHEAD GROUP 1485.00 1220.00 1595.00 Neutral Strong Buy 2668 0.99

NATIONAL EXPRESS 256.00 164.50 2 60.50 Neutral Sell 242 1.40

NORTHGATE 386.50 211.50 395.75 Neutral Strong Buy 619 1.34

STAGECOACH GROUP 316.50 265.90 337.60 Neutral Buy 432 0.98

WINCANTON 81.25 43.75 81.25 Neutral Strong Buy 230 0.96

Utilities Under Valued

Stock Price 12M Lo 12M Hi ST Rec LT Rec Target BetaCENTRICA 383.70 310.80 394.90 Neutral Buy 573 0.52

NATIONAL GRID 740.00 678.00 847.50 Neutral Buy 966 0.46

PENNON GROUP 663.00 598.00 749.50 Neutral Sell 611 0.62

SSE 1547.00 1335.00 1676.00 Neutral Buy 2229 0.41

SEVERN TRENT 1715.00 1513.00 2090.00 Neutral Sell 1474 0.36

UNITED UTILITIES GROUP 688.00 647.00 787.50 Neutral Neutral 732 0.48


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value indicator - uk main market 20130816

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Transcript of value indicator - uk main market 20130816