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Kainos downgraded by Investec

23 November 2015 14:45

Investec has downgraded its recommendation on IT services, consulting and software solutions provider Kainos Group (LON:KNOS) to hold from buy on the back of the company's maiden first half results, stating that it expects the shares to pause for breath.

Despite reporting good sales progress in Digital Services and Healthcare, the broker said it is conscious of the Digital Services gross margin mix and the upcoming Government Spending Review and reckons it is prudent not to upgrade its forecasts now, but wait until the impact of the review is clear.

Investec has left its target unchanged at 250 pence a share, which at current levels implies a negative level of forecast total return to the tune of 8.7 per cent.

At 2:45pm: (LON:KNOS) Kainos Group Plc Ord 0.5p share price was -46.5p at 233.25p

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