Pearson: shares up despite cautious broker comments
(CercleFinance.com) - Shares of Pearson are slightly outperforming their index on Friday, despite a broker report saying that the British education and media group could miss its full-year guidance.
"While first-quarter results benefited from changes in the timing of revenue recognition in college courseware, we believe Pearson will miss full-year guidance," said analysts at Berenberg.
"We see risk to consensus and to guidance," the broker added.
Berenberg, which has a "sell" rating on the shares, has however raised its target price from 500 pence to 550 pence.
The Pearson shares are currently up 1.4% at 872.8 pence after these comments, slightly outperforming a 1.1% rise in London's FTSE 100 index.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"While first-quarter results benefited from changes in the timing of revenue recognition in college courseware, we believe Pearson will miss full-year guidance," said analysts at Berenberg.
"We see risk to consensus and to guidance," the broker added.
Berenberg, which has a "sell" rating on the shares, has however raised its target price from 500 pence to 550 pence.
The Pearson shares are currently up 1.4% at 872.8 pence after these comments, slightly outperforming a 1.1% rise in London's FTSE 100 index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.