TRADER’S TIPS: City insiders say buy asset management company River and Mercantile but sell property website Rightmove
River and Mercantile slashed the amount of cash it had put aside for a competition probe
BUY THIS: River and Mercantile
This asset management company has been upgraded after slashing the amount of cash it had put aside for a competition probe.
Numis says the firm’s shares are now a buy with a price target of 320p.
River and Mercantile said it would only set aside £109,000 – down from £1million. Shares rose 7.2 per cent, or 18p, to 268p on Friday.
SELL THIS: Rightmove
Citigroup says it is time to sell shares in this property website.
The London-listed company’s stock has been at record highs since May when rival ZPG, the owner of Zoopla, was bought by private equity group Silver Lake.
However analysts at Citigroup have reissued a sell rating with a target of 4600p.
Rightmove’s shares closed down 2.7 per cent, or 140p, at 5076p on Friday.