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08 Feb 2021 | 14:54

FTSE 250 movers: Weir boosted by upgrade; easyJet hit by downgrade

(Sharecast News) - London's FTSE 250 was up 0.1% at 21,080.15 in afternoon trade on Monday. Weir was the top gainer after Morgan Stanley upgraded shares of the engineer to 'overweight' from 'equalweight' and hiked the price target to 2,220p from 1,730p.

The bank said it sees a "solid end market setup for 2021" and that the recent 10% pullback provides an attractive entry point. The risk/reward screens well in a sector context, MS said.

Just Group was boosted by an initiation at 'buy' at Peel Hunt. "Just is at the tail end of repairing a strained capital structure," Peel said. "The process is now helping rebuild new business sales, which underpin future cash flow."

Online electrical goods retailer AO World slumped following a report the UK government is considering a tax raid on companies that have profited from the pandemic.

Mike Ashley's Frasers Group was down after it emerged the company, formerly Sports Direct, sold its entire 24.9% stake in French Connection a day before it announced it was in talks with two potential suitors.

Budget airline easyJet was knocked lower by a downgrade to 'sell' at Stifel.

FTSE 250 - Risers

Weir Group (WEIR) 2,043.00p 5.99% Just Group (JUST) 84.00p 5.46% Lancashire Holdings Limited (LRE) 748.00p 4.84% BlackRock World Mining Trust (BRWM) 568.00p 4.03% Ferrexpo (FXPO) 307.40p 3.36% Aston Martin Lagonda Global Holdings (AML) 2,111.00p 3.03% Savills (SVS) 1,166.00p 2.73% Rotork (ROR) 344.80p 2.56% IMI (IMI) 1,319.00p 2.41% Dechra Pharmaceuticals (DPH) 3,708.00p 2.26%

FTSE 250 - Fallers

AO World (AO.) 316.00p -5.67% Rank Group (RNK) 138.80p -3.88% FirstGroup (FGP) 81.70p -3.77% Syncona Limited NPV (SYNC) 260.50p -3.52% TP ICAP (TCAP) 194.10p -3.34% Investec (INVP) 199.60p -2.82% Frasers Group (FRAS) 465.20p -2.60% Liontrust Asset Management (LIO) 1,175.00p -2.49% easyJet (EZJ) 808.20p -2.39% Cineworld Group (CINE) 75.76p -2.30%
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