UK Trading &

Value
Indicator
08 January 2012

Intellisys

www.intellisys.uk.com

08 January 2012

Contents
Market Pictures - Indices ......................................................................... 5
FTSE 100 ................................................................................................ 5
FTSE 250 ................................................................................................ 6
FTSE All Share Index ................................................................................ 7
FTSE AIM All Share .................................................................................. 8
Market Pictures Interest Rates ............................................................ 10
UK Bank Lending Rates ........................................................................... 10
Eurozone Lending Rates.......................................................................... 11
US Federal Funds Rate ........................................................................... 12
Market Pictures Exchange Rates ......................................................... 13
Market Pictures - Oil............................................................................... 15
Over Valued 16
Aerospace & Defence
...............................................
Automobiles & Parts
Banks

................................................

...............................................................

Beverages

..........................................................

Chemicals

..........................................................

Construction & Building Materials

................................

Electronics & Electrical Equipment

...............................

Engineering & Machinery

..........................................

Food & Drug Stores

.................................................

Food Producers & Processors

General Retail
Health

.....................................

.......................................................
................................................................

Household Goods & Textiles

......................................

Information Technology & Hardware

Insurance

............................

..........................................................

Leisure & Hotels

....................................................

Life Assurance

....................................................

Media & Entertainment

Mining

............................................

................................................................

Oil & Gas

.............................................................

Personal Care & Household Products

Pharmaceuticals & Biotechnology
Software & Computer Services
Speciality & Other Finance
Support Services

................................
...................................
........................................

....................................................

Telecommunication Services
Transport

............................

......................................

..........................................................

Over Valued 16
Over Valued 16
Over Valued 16
Over Valued 16
Over Valued 17
Under Valued 17
Over Valued 17
Under Valued 18
Over Valued 18
Over Valued 18
Over Valued 18
Under Valued 18
Over Valued 19
Over Valued 19
Under Valued 19
Over Valued 19
Over Valued 20
Under Valued 20
Under Valued 20
Over Valued 20
Under Valued 21
Over Valued 21
Over Valued 21
Under Valued 22
Under Valued 22
Under Valued 23

Utilities
............................................................. Under Valued 23
DISCLAIMER ............................................................................................. 24

Page 2 of 25

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08 January 2012

Introduction
The overriding purpose of this daily report is to provide users with a quick guide
that will identify those shares that merit their investment attention in an
increasingly time critical and information noisy trading environment.
The report is published daily and delivered to the subscribers personal email box,
typically, before the official open of the London Stock Markets.
Putting aside luck, Intellisys recognises that the timing and value of an
investment are the two primary drivers behind a successful portfolio performance.
Timing
Intellisys has invested considerably in identifying what it believes are the key
factors that influence investment timing. Having identified the key parameters,
these have been established as rules that reflect market dynamics and cut
through the daily investment noise.

Through this discipline, Intellisys has removed the emotional and sentimental
factors as well as the daily pressures exerted upon primary stock promoters
(analysts and traders) to find stories for their investment meetings.
From an analysis of a years data for 40 stocks within Intellisys stock coverage,
the trading indicators appear 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 Recommendation & Trend Accuracy Scores

120.0%

120.0%

110.0%

110.0%

100.0%

100.0%

90.0%

90.0%

80.0%

80.0%

70.0%

70.0%

60.0%

60.0%

50.0%

50.0%

40.0%

40.0%

30.0%

30.0%

20.0%

20.0%
1

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
Best Buy/Sell

Trend

Source: Intellisys

Page 3 of 25

Intellisys 08 January 2012

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08 January 2012

Value
A similar discipline has been applied to the process of establishing Target Prices.
On a daily basis, Intellisys analyses as broad an array of historic data from not
only the Profit & Loss Account but also the Balance Sheet and Cashflow
Statement and then utilises this data within its proprietary valuation models.

Intellisys architect, Philip Morrish, has successfully applied these disciplines to his
investment research for the last 15+ years. Additionally, these investment
valuation techniques lend themselves to accurate cross-border analysis.
The resultant Target is also discounted to a Net Present Value to make the
Target as realistically valid as possible.
Nevertheless, Intellisys recognises that Target Price delivery is not only a
function of market levels but a management teams ability to establish and
maintain a value generating operating environment set against a constantly
changing global background.
The typical investment analysts approach to determining target prices is to start
with a modest range of some 6 10 valuation measures and remove those that
are not providing the intuitive result. Intellysis approach is the opposite we use
as many valuation methodologies as possible.
Further, Intellisys recognises that some target prices may appear strange or
extreme. However, subscribers should not dismiss these outcomes but use them
as starting points to challenge their established or perceived valuation opinion of
a stock.
In short, this disciplined approach provides an investment reality check to assist
investors from falling in love with a stock or becoming mesmerised by
management cults.
Conclusion
No investment methodology is 100% successful and like all trading and
investment systems active position monitoring is critical for maximised
investment performance.

Therefore, Intellisys recommends that its products should be used in conjunction

with, and not separate from subscribers existing investment systems as well as
discussing investment options with their financial advisers.

Philip Morrish (philip.morrish@intellisys.uk.com)

RISK WARNING Recommendations and Target Prices

Intellisys does not make personal recommendations. The information in this
publication is provided solely to enable you to make your own investment
decisions.
If you are unsure about dealing in shares and other equity investments, you
should contact your financial adviser as these types of investments may not be
suitable for everyone.
The value of stocks and shares, and the income from them, can fall as well as rise
and you may not get back the full amount you originally invested. If denominated
in a foreign currency, fluctuations in the exchange rate will also affect the value
of stocks and shares and the income from them. Past performance is not
necessarily a guide to future performance.

Page 4 of 25

Intellisys 08 January 2012

Intellisys

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08 January 2012

Market Pictures - Indices

FTSE 100
Index

PE

FTSE 100

5Y Hi

FTSE 100 PE

6,732.4

5Y Hi

18.2
18.2

3Y Hi

6,091.3

3Y Hi

1Y Hi

6,091.3

1Y Hi

Last Close

Last Close

5,649.7

1Y Lo

14.1
10.2

1Y Lo

4,944.4

7.9

3Y Lo

3,512.1

3Y Lo

7.0

5Y Lo

3,512.1

5Y Lo

7.0

2000

4000

6000

8000

10

% change
1M

1.5; 3M

15

20

% change

6.8; 12M

-6.1

1M

2.4; 3M

21.3; 12M

Yield

-17.7

RSI

FTSE 100 DY

FTSE 100 RSI

5Y Hi

6.2
Hi

3Y Hi

74.8

6.0

1Y Hi

3.9

Last Close

Last Close

3.5

1Y Lo

2.9

3Y Lo

2.9

5Y Lo

2.9

64.3

Lo

1.0

3.0

5.0

11.1

7.0

20

40

60

80

% change
1M

-1.9; 3M

Page 5 of 25

-3.3; 12M

20.4

Intellisys 08 January 2012

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08 January 2012

Market Pictures - Indices

FTSE 250
Index

PE

FTSE 250

FTSE 250 PE

5Y Hi

12,220.2

5Y Hi

27.8

3Y Hi

12,167.8

3Y Hi

27.8

1Y Hi

12,167.8

1Y Hi

Last Close

Last Close

10,245.9

1Y Lo

3Y Lo 7.1

5,769.8

5Y Lo

5Y Lo 7.1

5,491.5

500

15.5

1Y Lo 7.1

9,425.9

3Y Lo

19.5

5500

10500

15500

% change
1M

-0.6; 3M

10

15

20

25

30

% change

3.6; 12M

-12.6

1M

104.2; 3M

Yield

6.7; 12M

-20.2

RSI
FTSE 250 RSI

FTSE 250 DY

5.7

5Y Hi

Hi
3Y Hi

72.5

5.1

1Y Hi

3.3

Last Close

3.1

Last Close
1Y Lo

2.2

3Y Lo

2.2

60.1

Lo 7.9
5Y Lo

1.9
1.0

2.0

3.0

4.0

5.0

6.0

20

40

60

80

% change
1M

1.0; 3M

Page 6 of 25

2.0; 12M

40.8

Intellisys 08 January 2012

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08 January 2012

Market Pictures - Indices

FTSE All Share Index
Index

PE

FTSE ALL SHARE

5Y Hi

FTSE ALL SHARE PE

3,479.0

5Y Hi

19.5
19.5

3Y Hi

3,160.9

3Y Hi

1Y Hi

3,160.9

1Y Hi

Last Close

Last Close

2,897.0

1Y Lo

14.6
10.8

1Y Lo

2,557.8

8.5

3Y Lo

1,781.6

3Y Lo

7.4

5Y Lo

1,781.6

5Y Lo

7.4

500

1500

2500

3500

4500

% change
1M

1.2; 3M

10

15

20

25

% change

6.2; 12M

-7.2

1M

11.3; 3M

Yield

19.6; 12M

-18.3

RSI
FTSE ALL SHARE RSI

FTSE ALL SHARE DY

5Y Hi

6.1
Hi

3Y Hi

74.8

5.8

1Y Hi

3.8

Last Close

Last Close

3.5

1Y Lo

2.8

3Y Lo

2.8

63.7

Lo 10.4
5Y Lo

2.7
1.0

3.0

5.0

7.0

20

40

60

80

% change
1M

-1.4; 3M

Page 7 of 25

-2.3; 12M

23.0

Intellisys 08 January 2012

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08 January 2012

Market Pictures - Indices

FTSE AIM All Share
Index

PE

FTSE AIM ALL-SHARE

5Y Hi

FTSE AIM ALL-SHARE PE

1,236.6

5Y1,439.5
Hi

3Y Hi

968.3

3Y1,240.8
Hi

1Y Hi

968.3

1Y 211.5
Hi

Last Close

712.5

1Y Lo

100.2
Last Close

657.8

203,906.0
1Y
Lo-

3Y Lo373.8

203,906.0
3Y
Lo-

5Y Lo373.8

203,906.0
5Y
Lo-

200

700

1200

1700

-250000

-200000

% change
1M

1.2; 3M

-150000

-50000

50000

% change

3.3; 12M

-24.2

1M -14.8; 3M 33.6; 12M -172.4

Yield

RSI

FTSE AIM ALL-SHARE DY

FTSE AIM ALL-SHARE RSI

5Y Hi

2.1

3Y Hi

2.1

1Y Hi

-100000

Hi

77.3

Last Close

77.3

0.8

Last Close

0.7

1Y Lo

0.5

3Y Lo

0.5
Lo 6.9

5Y Lo 0.4
0.2

0.7

1.2

1.7

2.2

20

40

60

80

100

% change
1M

-2.7; 3M

Page 8 of 25

-7.8; 12M

29.1

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08 January 2012

Market Pictures - Indices

S&P 500
Index

PE

S&P 500 COMPOSITE

S&P 500 COMPOSITE PE

5Y Hi

1,565.2

5Y Hi

146.3
146.3

3Y Hi

1,363.6

3Y Hi

1Y Hi

1,363.6

1Y Hi
18.4

Last Close

Last Close
14.7

1,277.8

1Y Lo

1Y 13.4
Lo

1,099.2

3Y Lo

676.5

3Y 13.4
Lo

5Y Lo

676.5

5Y 13.4
Lo

400

900

1400

10

1900

60

% change
1M

1.5; 3M

110

160

9.6; 12M

-17.3

% change

9.7; 12M

0.3

1M

2.4; 3M

Yield

RSI
S&P 500 COMPOSITE RSI

S&P 500 COMPOSITE DY

5Y Hi

3.4

Hi
3Y Hi

73.6

3.2

1Y Hi

2.4

Last Close

Last Close

2.2

1Y Lo

1.8

3Y Lo

1.8

5Y Lo

1.8

63.5

Lo

0.5

1.5

2.5

3.5

11.2

4.5

20

40

60

80

% change
1M

-0.9; 3M

Page 9 of 25

-9.5; 12M

18.4

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08 January 2012

Market Pictures Interest Rates

UK Bank Lending Rates
UK

UK CLEARING BANKS BASE RATE

5Y Hi

5.75

3Y Hi

2.00

1Y Hi 0.50
Last Close 0.50
1Y Lo 0.50
3Y Lo 0.50
5Y Lo 0.50
0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

% change
1M

0.0; 3M

0.0; 12M

0.0

UK Lending PE

UK CLEARING BANKS BASE RATE PE

5Y Lo17.4
3Y Lo

50.0

1Y Lo

200.0

Last Close

200.0

1Y Hi

200.0

3Y Hi

200.0

5Y Hi

200.0
10

Page 10 of 25

60

110

160

210

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08 January 2012

Market Pictures Interest Rates

Eurozone Lending Rates
Eurozone

EUROZONE MARGINAL LENDING RATE

5Y Hi

5.25

3Y Hi

3.00

1Y Hi

2.25

Last Close

1.75

1Y Lo

1.75

3Y Lo

1.75

5Y Lo

1.75

0.00

1.00

2.00

3.00

4.00

5.00

6.00

% change
1M

-12.5; 3M

-22.2; 12M

0.0

Eurozone Lending PE

EUROZONE MARGINAL LENDING RATE - PE

5Y Lo

19.0

3Y Lo

33.3

1Y Lo

44.4

Last Close

57.1

1Y Hi

57.1

3Y Hi

57.1

5Y Hi

57.1
10

Page 11 of 25

20

30

40

50

60

Intellisys 08 January 2012

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08 January 2012

Market Pictures Interest Rates

US Federal Funds Rate
US

US FEDERAL FUNDS RATE

5Y Hi

5.41

3Y Hi0.25
1Y Hi
0.19
Last Close
0.07
1Y 0.04
Lo
3Y 0.04
Lo
5Y 0.04
Lo
0.00

1.00

2.00

3.00

4.00

5.00

6.00

% change
1M

-12.5; 3M

0.0; 12M

-58.8

US Lending PE

US FEDERAL FUNDS RATE - PE

5Y18.5
Lo
3Y Lo

400.0

1Y Lo

526.3

Last Close

1,428.6

1Y Hi

2,500.0

3Y Hi

2,500.0

5Y Hi

2,500.0
10

Page 12 of 25

510

1010

1510

2010

2510

3010

Intellisys 08 January 2012

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08 January 2012

Market Pictures Exchange Rates

US$/

US$/
5Y Hi

2.11

3Y Hi

1.70

1Y Hi

1.67

Last Close

1.54

1Y Lo

1.53

3Y Lo

1.37

5Y Lo

1.37

1.00

1.20

1.40

1.60

1.80

2.00

2.20

% change
1M

-1.2; 3M

0.2; 12M

-0.5

EURO/
5Y Hi

1.53

3Y Hi

1.24

1Y Hi

1.21

Last Close

1.21

1Y Lo
3Y Lo

1.11
1.06

5Y Lo
1.02
1.00

1.10

1.20

1.30

1.40

1.50

1.60

% change
1M

Page 13 of 25

4.0; 3M

5.6; 12M

2.1

Intellisys 08 January 2012

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08 January 2012

Market Pictures Exchange Rates

US$/

US$/EURO
5Y Hi

1.60

3Y Hi

1.51

1Y Hi

1.48

Last Close

1.27

1Y Lo

1.27

3Y Lo

1.19

5Y Lo

1.19

0.80

1.00

1.20

1.40

1.60

1.80

% change
1M

-5.1; 3M

-5.3; 12M

-2.2

YEN/
5Y Hi

250.1

3Y Hi

162.5

1Y Hi
Last Close

139.4
118.8

1Y Lo 117.1
3Y Lo 117.1
5Y Lo 117.1
100.0

150.0

200.0

250.0

300.0

% change
1M

Page 14 of 25

-2.1; 3M

0.7; 12M

-7.8

Intellisys 08 January 2012

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08 January 2012

Market Pictures - Oil

Brent Monthly FOB US$/bbl

Oil (Brent) Monthly FOB U$/bbl

5Y Hi

145.6

3Y Hi

126.6

1Y Hi

126.6

Last Close

114.7

1Y Lo

94.3

3Y Lo

39.1

5Y Lo

34.6
0

50

100

150

200

% change
1M

3.85; 3M

7.94; 12M

20.58

RISK WARNING Recommendations and Target Prices

Intellisys does not make personal recommendations. The information in this
publication is provided solely to enable you to make your own investment
decisions.

If you are unsure about dealing in shares and other equity investments, you
should contact your financial adviser as these types of investments may not be
suitable for everyone.
The value of stocks and shares, and the income from them, can fall as well as rise
and you may not get back the full amount you originally invested. If denominated
in a foreign currency, fluctuations in the exchange rate will also affect the value
of stocks and shares and the income from them. Past performance is not
necessarily a guide to future performance.

Page 15 of 25

Intellisys 08 January 2012

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08 January 2012

Over Valued

Aerospace & Defence

Stock
BAE SYSTEMS
CHEMRING GROUP
COBHAM
MEGGITT
ROLLS-ROYCE HOLDINGS
SMITHS GROUP
ULTRA ELECTRONICS HDG.
UMECO

Price
287.00
394.20
180.30
356.60
754.00
936.50
1434.00
355.00

12M Lo
248.10
368.80
165.90
305.00
552.19
869.50
1305.00
243.50

12M Hi
361.10
736.50
236.50
397.60
757.00
1429.00
1830.00
512.50

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Price
190.10
294.50
50.00
7.74

12M Lo
157.00
268.60
47.00
6.80

12M Hi
245.00
425.40
72.75
19.71

ST Rec
Neutral
Neutral
Neutral
Neutral

Price
183.65
497.60
26.35
20.27
1435.00

12M Lo
138.85
463.50
21.84
17.34
1169.50

12M Hi
333.55
730.90
69.61
49.00
1744.50

ST Rec
Neutral
Neutral
Sell
Sell
Neutral

Price
1216.00
1415.00
2330.50

12M Lo
1031.00
1112.00
1979.00

12M Hi
1395.00
1428.00
2354.50

ST Rec
Neutral
Neutral
Neutral

Page 16 of 25

Target
151
267
60
8

Beta
1.93
1.40
1.34
1.08

LT Rec
Sell
Strong Buy
Strong Buy
Sell
Sell

Target
53
837
143
-29
1282

Beta
1.81
1.12
1.72
1.23
1.69

LT Rec
Neutral
Sell
Buy

Target
1235
1273
2743

Beta
0.42
0.55
0.97

Over Valued

Chemicals
Stock
CRODA INTERNATIONAL
ELEMENTIS
JOHNSON MATTHEY
VICTREX
YULE CATTO
ZOTEFOAMS

LT Rec
Sell
Sell
Buy
Sell

Over Valued

Beverages
Stock
BARR (AG)
DIAGEO
SABMILLER

Beta
0.63
0.53
0.94
1.34
1.09
0.71
0.59
0.80

Over Valued

Banks
Stock
BARCLAYS
HSBC HDG. (ORD $0.50)
LLOYDS BANKING GROUP
ROYAL BANK OF SCTL.GP.
STANDARD CHARTERED

Target
587
449
228
320
580
961
1155
357

Over Valued

Automobiles & Parts

Stock
GKN
INCHCAPE
LOOKERS
PENDRAGON

LT Rec
Strong Buy
Buy
Buy
Sell
Sell
Neutral
Sell
Neutral

Price
1818.00
136.00
1890.00
1110.00
168.40
111.50

12M Lo
1456.00
107.50
1523.00
1025.00
148.00
109.00

12M Hi
2081.00
187.40
2119.00
1590.00
253.00
158.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

LT Rec
Sell
Neutral
Sell
Sell
Strong Buy
Strong Buy

Intellisys 08 January 2012

Target
1484
138
1554
1061
278
181

Beta
1.06
1.06
1.43
1.20
1.25
1.01

Intellisys

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08 January 2012
Over Valued

Construction & Building Materials

Stock
BALFOUR BEATTY
BARRATT DEVELOPMENTS
BELLWAY
BERKELEY GROUP HDG.(THE)
BOVIS HOMES GROUP
CARILLION
CLARKE (T)
COSTAIN GROUP
GALLIFORD TRY
KELLER
KIER GROUP
LOW & BONAR
MARSHALLS
MORGAN SINDALL GROUP
PERSIMMON
REDROW
SIG
TAYLOR WIMPEY
TRAVIS PERKINS
WOLSELEY

Price
272.70
89.95
671.50
1235.00
408.50
305.00
39.75
202.00
463.50
265.00
1395.00
41.75
90.75
620.00
473.00
116.50
85.35
36.93
794.00
2141.00

12M Lo
214.60
67.50
540.50
884.50
326.50
281.00
35.50
180.00
307.50
239.25
1097.00
38.00
83.25
510.00
374.00
103.50
76.95
28.71
715.00
1404.00

12M Hi
357.30
119.00
776.50
1360.00
499.60
403.20
126.50
265.00
530.00
698.50
1458.00
76.75
124.50
720.00
518.50
136.20
153.50
43.31
1127.00
2261.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral

Price
687.00
530.00
104.00
211.70
148.10
978.50
1019.00
1302.00
0.17
135.00
247.50

12M Lo
536.00
434.30
86.75
180.90
127.90
600.50
800.00
1039.00
0.14
120.50
207.50

12M Hi
847.00
705.00
146.00
364.30
207.00
1010.00
1886.00
1679.00
0.34
208.00
295.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Page 17 of 25

Beta
0.85
1.39
1.00
0.69
1.07
1.10
0.84
0.58
1.02
1.26
1.05
1.04
1.35
0.88
1.05
0.95
1.56
1.48
1.85
1.41

LT Rec
Sell
Neutral
Buy
Strong Buy
Neutral
Sell
Strong Buy
Sell
Strong Buy
Strong Buy
Sell

Target
382
542
132
324
155
686
1597
1025
0
208
110

Beta
0.73
1.15
1.30
1.51
2.20
0.97
1.22
1.37
0.65
1.55
1.13

Over Valued

Engineering & Machinery

Stock
AGA RANGEMASTER GROUP
BODYCOTE
CASTINGS
COOKSON GROUP
FENNER
HALMA
HILL & SMITH
IMI
METALRAX GROUP
MORGAN CRUCIBLE
ROTORK
SENIOR
SEVERFIELD-ROWEN
SPIRAX-SARCO
VITEC GROUP
WEIR GROUP

Target
263
54
610
1209
185
428
179
701
502
344
2839
53
59
1281
578
77
-5
11
963
1571

Under Valued

Electronics & Electrical Equipment

Stock
DIALIGHT
DOMINO PRINTING SCIENCES
E2V TECHNOLOGIES
INVENSYS
LAIRD
OXFORD INSTRUMENTS
RENISHAW
SPECTRIS
BIOME TECHNOLOGIES
TT ELECTRONICS
XAAR

LT Rec
Neutral
Sell
Sell
Neutral
Sell
Buy
Strong Buy
Strong Buy
Neutral
Buy
Strong Buy
Buy
Sell
Strong Buy
Buy
Sell
Sell
Sell
Buy
Sell

Price
70.00
271.40
270.00
532.50
405.20
336.40
252.75
790.50
8.00
271.40
1854.00
176.30
168.50
1858.00
554.00
2091.00

12M Lo
62.50
225.60
250.50
395.80
280.00
306.30
235.00
636.50
7.37
224.00
1501.00
132.60
150.00
1649.00
488.00
1375.00

12M Hi
138.00
397.70
358.00
724.50
422.50
429.60
393.50
1119.00
12.00
357.10
1979.00
190.60
330.00
2063.00
661.75
2218.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell

LT Rec
Strong Buy
Buy
Strong Buy
Buy
Sell
Neutral
Strong Buy
Strong Buy
Sell
Buy
Sell
Neutral
Sell
Buy
Buy
Sell

Intellisys 08 January 2012

Target
280
332
482
718
263
343
546
1277
7
317
1672
173
157
2111
683
753

Beta
1.31
1.56
0.96
2.26
1.39
0.74
1.36
1.40
0.85
1.73
1.01
1.75
1.03
0.84
1.51
1.41

Intellisys

www.intellisys.uk.com

08 January 2012
Under Valued

Food & Drug Stores

Stock
GREGGS
MORRISON(WM)SPMKTS.
SAINSBURY (J)
TESCO
THORNTONS

Price
515.50
316.00
298.00
393.90
18.75

12M Lo
445.00
262.70
263.50
356.25
17.75

12M Hi
550.50
328.00
391.50
429.65
100.75

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral

Price
1113.00
726.50
330.10
251.00
5.69
242.00
706.00
2170.00

12M Lo
940.00
588.50
318.80
223.50
3.29
233.25
520.00
1793.00

12M Hi
1150.00
882.00
410.40
296.90
35.12
356.50
720.50
2189.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Price
19.38
1.38
231.40
1203.00
493.10
11.50
9.64
3.26
39.75
6.71
288.70
7.70
592.50
66.60
247.40
306.20
35.00
154.00
2614.00
659.00
26.50

12M Lo
16.00
0.75
227.00
1030.00
375.00
7.50
9.36
2.20
37.50
6.20
269.50
5.20
570.00
60.20
217.00
301.80
23.75
127.30
1868.00
572.50
21.50

12M Hi
25.25
42.25
311.20
1600.00
835.50
27.50
23.73
10.72
134.00
73.25
435.00
52.70
1030.00
164.00
287.10
402.20
40.00
558.50
2810.00
830.00
84.50

ST Rec
Neutral
Sell
Neutral
Neutral
Sell
Sell
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral

Price
550.00
43.50
606.00

12M Lo
498.00
36.50
521.00

12M Hi
590.00
59.00
742.00

ST Rec
Neutral
Neutral
Neutral

Page 18 of 25

Target
524
693
335
403
-5
491
381
1759

Beta
0.59
0.58
0.96
0.31
1.43
0.38
0.65
0.63

LT Rec
Neutral

Target
22
183
409
143
7
22
0
81
130
300
971
927
221
220
280
18
266
1581
355
19

Beta
0.73
0.27
0.50
1.34
0.98
0.64
1.40
0.96
0.91
0.91
0.62
0.86
0.46
1.27
0.98
0.73
1.02
0.51
0.81
0.52
1.30

Target
480
41
621

Beta
0.39
0.70
0.39

Sell
Sell
Sell
Sell
Strong Buy
Sell
Strong Buy
Strong Buy
Neutral
Strong Buy
Buy
Strong Buy
Sell
Sell
Sell
Strong Buy
Sell
Sell
Sell

LT Rec
Sell
Sell
Neutral

Under Valued

Household Goods & Textiles

Stock
HARVARD INTL.
GAMES WORKSHOP
HEADLAM GROUP
HORNBY

LT Rec
Sell
Sell
Neutral
Strong Buy
Sell
Strong Buy
Sell
Sell

Over Valued

Health
Stock
CONSORT MEDICAL
CORIN GROUP
SMITH & NEPHEW

Beta
0.54
0.50
0.65
0.81
0.80

Over Valued

General Retail
Stock
ASHLEY(LAURA) HOLDINGS
BLACKS LEISURE
BROWN (N) GROUP
BURBERRY GROUP
CARPETRIGHT
CLINTON CARDS
DIXONS RETAIL
FINDEL
FRENCH CONNECTN.GROUP
GAME GROUP
HALFORDS GROUP
JJB SPORTS
JD SPORTS FASHION
KESA ELECTRICALS
KINGFISHER
MARKS & SPENCER GROUP
MOSS BROTHERS GROUP
MOTHERCARE
NEXT
TED BAKER
TOPPS TILES

Target
431
358
540
422
21

Over Valued

Food Producers & Processors

Stock
ASSOCIATED BRIT.FOODS
CRANSWICK
DAIRY CREST
DEVRO
PREMIER FOODS
ROBERT WISEMAN DAIRIES
TATE & LYLE
UNILEVER (UK)

LT Rec
Sell
Buy
Strong Buy
Neutral
Buy

Price
37.63
490.00
258.00
128.25

12M Lo
21.75
342.50
233.25
105.00

12M Hi
40.00
515.00
354.00
145.00

ST Rec
Neutral
Neutral
Neutral
Neutral

LT Rec
Sell
Sell
Buy
Neutral

Intellisys 08 January 2012

Target
32
463
342
143

Beta
0.47
0.34
0.91
0.70

Intellisys

www.intellisys.uk.com

08 January 2012
Over Valued

Information Technology & Hardware

Stock
ARM HOLDINGS
CSR
FILTRONIC
IMAGINATION TECHNOLOGIES
PSION
SPIRENT COMMUNICATIONS
WOLFSON MICROELECTRONICS

Price
610.00
187.80
19.50
548.00
44.50
115.40
127.75

12M Lo
459.60
154.10
14.50
296.90
43.88
105.80
96.00

12M Hi
651.00
447.00
62.00
568.00
102.75
160.00
312.00

ST Rec
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral

Price
866.00
314.80
131.00
387.30
369.30
670.00
106.90
324.25

12M Lo
787.00
270.60
109.60
334.00
340.50
576.00
99.60
285.00

12M Hi
1754.00
427.00
139.20
421.40
424.70
764.50
143.50
410.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Price
36.75
2145.00
26.50
161.10
695.00
476.30
132.50
1160.00
393.50
229.80
170.50
9.55
130.00
281.70
418.40
1566.00
202.20
90.15

12M Lo
26.00
1742.00
26.50
136.70
590.00
410.00
114.00
955.00
371.20
215.60
100.60
9.14
109.50
254.90
380.50
1409.00
168.60
84.60

12M Hi
42.75
3147.00
118.90
271.90
752.00
518.00
155.30
1435.00
600.50
357.10
214.70
15.70
153.70
335.00
468.30
1887.00
244.10
112.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Sell
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Page 19 of 25

LT Rec
Sell
Strong Buy
Strong Buy
Sell
Strong Buy
Strong Buy
Strong Buy
Strong Buy

Target
343
2274
1186
64
2255
1791
954
2176

Beta
0.50
0.45
0.51
0.32
0.49
0.32
0.45
0.49

LT Rec
Sell
Strong Buy
Strong Buy
Strong Buy
Neutral
Strong Buy
Strong Buy
Sell
Buy
Sell
Sell
Sell
Buy
Buy
Strong Buy
Buy
Buy
Strong Buy

Target
17
3648
86
578
723
727
236
856
512
95
135
-165
194
340
703
1821
303
169

Beta
0.76
1.13
1.69
0.95
0.45
0.87
0.99
1.29
1.39
1.02
1.29
1.28
0.97
0.88
0.75
1.04
0.93
1.24

Over Valued

Life Assurance
Stock
AVIVA
CHESNARA
LEGAL & GENERAL
OLD MUTUAL
PRUDENTIAL
ST.JAMES'S PLACE

Beta
0.77
1.13
0.59
0.96
1.19
1.01
1.02

Under Valued

Leisure & Hotels

Stock
ARENA LEISURE
CARNIVAL
ENTERPRISE INNS
TUI TRAVEL
FULLER SMITH 'A'
GREENE KING
LADBROKES
ICTL.HTLS.GP.
MILLENNIUM & CPTH.HTLS.
MITCHELLS & BUTLERS
BWIN PARTY DIGITAL ENTM.
PUNCH TAVERNS
RANK GROUP
RESTAURANT GROUP
WETHERSPOON (JD)
WHITBREAD
WILLIAM HILL
MARSTON'S

Target
1267
5116
-188
1104
2346
1180
20

Over Valued

Insurance
Stock
ADMIRAL GROUP
AMLIN
BEAZLEY
CATLIN GROUP
HISCOX
JARDINE LLOYD THOMPSON
RSA INSURANCE GROUP
NOVAE GROUP

LT Rec
Strong Buy
Strong Buy
Sell
Strong Buy
Strong Buy
Strong Buy
Sell

Price
303.50
181.00
103.00
137.50
633.50
320.10

12M Lo
275.30
161.75
89.80
98.05
509.00
272.50

12M Hi
477.90
264.00
123.80
144.80
777.00
376.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

LT Rec
Strong Buy
Neutral
Buy
Sell
Sell
Strong Buy

Intellisys 08 January 2012

Target
435
177
83
160
316
121

Beta
1.22
0.60
1.65
1.62
1.72
0.79

Intellisys

www.intellisys.uk.com

08 January 2012
Over Valued

Media & Entertainment

Stock
AEGIS GROUP
BLOOMSBURY PBL.
BRITISH SKY BCAST.GROUP
CENTAUR MEDIA
DAILY MAIL 'A'
EUROMONEY INSTL.INVESTOR
INFORMA
ITE GROUP
ITV
JOHNSTON PRESS
PEARSON
PHOTO-ME INTL.
PINEWOOD SHEPPERTON
THOMSON REUTERS
STV GROUP
ST.IVES
TRINITY MIRROR
UBM
WILMINGTON GROUP
WPP
YELL GROUP

Price
140.00
95.00
721.00
33.13
392.60
645.00
355.80
201.00
69.45
6.20
1212.00
53.50
275.50
27.45
82.63
80.50
49.00
471.40
84.50
669.00
5.10

12M Lo
116.17
91.25
618.50
32.50
343.40
522.50
313.90
157.70
51.65
4.11
983.00
39.50
132.75
26.21
76.25
68.50
37.50
416.00
82.50
578.00
3.35

12M Hi
159.08
138.00
850.00
73.00
594.50
736.00
461.10
258.20
93.45
12.75
1234.00
67.00
277.50
41.49
168.00
108.50
93.00
725.00
183.00
846.50
14.50

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Price
2455.00
266.20
1263.00
1951.00
975.00
6960.00
3321.00
29.50
1021.50

12M Lo
2138.50
237.90
900.50
1667.00
941.00
4425.00
2712.50
28.50
928.00
764.00

12M Hi
3437.00
369.25
1571.00
2631.50
1896.00
7555.00
4712.00
55.25
2518.00
1550.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Price
1430.50
474.05
262.50
11.00
762.50
135.00
118.00
374.90
2350.00
2437.00
290.90
1393.00
666.00

12M Lo
1144.00
363.20
257.80
9.00
530.00
128.00
95.25
310.00
1883.50
1890.50
278.00
945.50
469.90

12M Hi
1564.50
509.00
469.70
14.75
817.00
335.10
297.00
535.00
2385.00
2478.50
400.00
1493.00
715.75

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Page 20 of 25

LT Rec
Strong Buy
Buy
Sell
Strong Buy
Sell
Sell
Strong Buy
Sell
Strong Buy
Buy

Target
6306
359
1062
4507
824
1830
5198
-73
5263
1167

Beta
1.74
0.92
1.38
1.40
1.90
0.30
1.41
1.05
2.05
1.76

Price
117.00
333.40
3274.00

LT Rec
Buy
Strong Buy
Buy
Strong Buy
Buy
Strong Buy
Strong Buy
Buy
Strong Buy
Strong Buy
Sell
Sell
Buy

Target
1867
1213
327
23
914
357
617
514
6283
6346
194
450
753

Beta
0.70
1.06
1.34
0.87
1.31
1.35
1.12
1.34
0.94
0.95
0.50
1.07
1.34

Over Valued

Personal Care & Household Products

Stock
MCBRIDE
PZ CUSSONS
RECKITT BENCKISER GROUP

Beta
1.30
0.48
0.64
1.00
1.08
1.04
1.50
1.39
1.49
1.45
0.70
0.86
0.37
0.52
0.77
1.31
1.58
1.28
0.86
1.27
1.32

Under Valued

Oil & Gas

Stock
BG GROUP
BP
CAIRN ENERGY
FORTUNE OIL
HUNTING
JKX OIL & GAS
MELROSE RESOURCES
PREMIER OIL
ROYAL DUTCH SHELL A(LON)
ROYAL DUTCH SHELL B
SOCO INTERNATIONAL
TULLOW OIL
WOOD GROUP (JOHN)

Target
83
116
626
-52
532
615
296
143
74
56
1001
82
138
24
102
207
438
1536
101
767
41

Under Valued

Mining
Stock
ANGLO AMERICAN
ANGLO PACIFIC GROUP
ANTOFAGASTA
BHP BILLITON
LONMIN
RANDGOLD RESOURCES
RIO TINTO
UK COAL
VEDANTA RESOURCES
XSTRATA

LT Rec
Sell
Buy
Sell
Sell
Buy
Sell
Sell
Sell
Neutral
Strong Buy
Sell
Strong Buy
Sell
Sell
Buy
Strong Buy
Strong Buy
Strong Buy
Buy
Buy
Strong Buy

12M Lo
110.75
308.70
3015.00

12M Hi
161.64
404.00
3578.00

ST Rec
Neutral
Neutral
Neutral

LT Rec
Sell
Neutral
Neutral

Intellisys 08 January 2012

Target
108
356
3128

Beta
0.85
0.80
0.32

Intellisys

www.intellisys.uk.com

08 January 2012
Under Valued

Pharmaceuticals & Biotechnology

Stock
ARK THERAPEUTICS GP.
ASTRAZENECA
BTG
DECHRA PHARMACEUTICALS
GLAXOSMITHKLINE
OXFORD BIOMEDICA
PHYTOPHARM
SHIRE
SKYEPHARMA
VERNALIS

Price
3.38
3009.50
321.90
517.50
1482.00
3.30
7.93
2152.00
35.38
19.50

12M Lo
3.13
2543.50
210.10
433.00
1127.50
2.91
6.40
1589.00
31.50
18.75

12M Hi
5.68
3194.00
331.30
535.00
1497.00
7.20
9.75
2243.00
66.13
50.00

ST Rec
Buy
Neutral
Neutral
Neutral
Neutral
Buy
Buy
Neutral
Neutral
Neutral

Price
24.00
89.50
1450.00
340.50
236.25
20.13
65.95
394.30
239.20
159.50
62.50
1580.00
294.70

12M Lo
21.50
57.75
1298.00
324.70
225.00
15.00
58.95
239.40
214.90
154.75
41.50
1444.00
231.70

12M Hi
27.00
95.00
1799.00
490.00
535.00
23.00
147.20
426.20
420.20
290.00
175.00
2109.00
302.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Page 21 of 25

Beta
0.92
0.46
0.72
0.32
0.49
0.60
0.89
0.64
0.71
0.81

LT Rec
Strong Buy
Sell
Sell
Strong Buy
Neutral
Sell
Strong Buy
Neutral
Buy
Strong Buy
Strong Buy
Sell
Sell

Target
42
53
852
793
242
15
161
385
333
399
326
1484
278

Beta
0.73
0.82
1.44
1.07
1.05
0.91
1.33
0.71
1.29
0.85
0.39
0.79
0.65

Over Valued

Speciality & Other Finance

Stock
ABERDEEN ASSET MAN.
BREWIN DOLPHIN
CAMELLIA
CHARLES STANLEY GROUP
CHARLES TAYLOR CNSL.
CLOSE BROTHERS GROUP
F&C ASSET MANAGEMENT
HELPHIRE GROUP
HENDERSON GROUP
ICAP
INTERMEDIATE CAPITAL GP.
INVESTEC
LONDON STOCK EX.GROUP
MAN GROUP
RATHBONE BROTHERS
SCHRODERS
SCHRODERS NV

Target
10
10783
120
967
1451
-2
-2
1401
283
-20

Over Valued

Software & Computer Services

Stock
TIMEWEAVE
ANITE
AVEVA GROUP
COMPUTACENTER
KOFAX
INNOVATION GROUP
LOGICA
MICRO FOCUS INTL.
MISYS
PHOENIX IT GROUP
RM
FIDESSA GROUP
SAGE GROUP

LT Rec
Strong Buy
Strong Buy
Sell
Strong Buy
Neutral
Sell
Sell
Sell
Strong Buy
Sell

Price
215.10
142.00
9787.50
267.50
127.50
603.00
62.10
1.88
100.90
329.10
231.30
335.40
784.00
123.00
1044.00
1289.00
1069.00

12M Lo
167.80
113.70
8800.00
240.00
115.63
590.00
56.05
1.36
95.05
311.60
197.90
318.40
756.50
112.70
977.00
1183.00
970.00

12M Hi
240.00
185.40
10950.00
350.00
165.00
888.50
92.90
17.38
173.10
570.50
360.30
534.00
1076.00
311.00
1257.00
1922.00
1554.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

LT Rec
Sell
Sell
Strong Buy
Neutral
Buy
Sell
Buy
Strong Buy
Sell
Sell
Neutral
Sell
Sell
Buy
Neutral
Buy
Buy

Intellisys 08 January 2012

Target
86
126
15685
261
183
281
80
4
84
276
226
203
643
163
1126
1491
1491

Beta
1.07
0.70
0.87
0.94
0.70
0.80
0.91
0.64
1.41
1.08
1.62
1.53
1.15
1.27
0.73
1.30
1.29

Intellisys

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08 January 2012
Under Valued

Support Services
Stock
ACAL
AGGREKO
AMEC
ASHTEAD GROUP
BABCOCK INTL.
BRITISH POLYTHENE INDS.
BUNZL
UK MAIL GROUP
CAPITA
COMMUNISIS
COMPASS GROUP
BERENDSEN
DE LA RUE
DIGNITY
DIPLOMA
ELECTROCOMP.
FILTRONA
G4S
HAYS
HOMESERVE
INTERSERVE
INTERTEK GROUP
JOHNSON SERVICE GROUP
MANAGEMENT CNSL.GP.
MENZIES (JOHN)
MICHAEL PAGE INTL.
MITIE GROUP
MOUCHEL GROUP
OFFICE2OFFICE
PAYPOINT
PREMIER FARNELL
REGUS
RENTOKIL INITIAL
REXAM
RICARDO
ROBERT WALTERS
RPC GROUP
RPS GROUP
SERCO GROUP
SHANKS GROUP
SPEEDY HIRE
TRIBAL GROUP
TRIFAST
VP
WYG
WSP GROUP

Price
167.50
2049.00
933.50
217.90
730.00
344.50
882.00
226.25
644.00
28.75
600.50
434.20
887.00
810.00
360.20
202.90
395.00
271.50
64.45
299.00
315.90
2047.00
26.63
31.00
527.00
342.90
264.10
4.99
138.50
565.00
193.40
86.50
63.55
360.60
383.50
163.00
367.80
179.60
488.40
96.05
19.50
45.25
38.50
219.37
51.50
206.50

12M Lo
166.25
1394.48
740.50
99.40
542.00
230.00
676.50
192.25
611.50
23.75
512.50
402.70
667.00
648.50
263.50
182.20
250.00
219.90
58.85
218.50
233.50
1715.00
25.25
27.75
425.00
323.00
195.90
4.95
112.50
327.25
144.50
64.00
58.20
299.80
293.00
158.25
231.50
156.60
458.00
90.80
18.50
36.25
36.25
191.00
48.38
160.00

12M Hi
367.50
2089.00
1251.00
230.20
737.00
348.00
888.50
331.50
786.50
37.00
616.00
568.00
936.00
854.50
414.25
294.90
399.90
291.00
132.40
532.00
341.25
2148.00
36.00
45.50
550.00
567.00
269.00
154.75
166.50
570.00
308.80
119.00
104.90
400.00
410.00
347.00
384.80
253.00
618.50
130.90
34.00
51.00
52.88
253.75
1237.51
385.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Page 22 of 25

Target
318
1172
1192
114
646
1005
937
507
653
89
680
651
984
916
300
347
401
360
133
439
738
1518
63
52
1140
412
375
-268
262
690
329
66
48
486
507
328
412
274
626
151
-7
-267
58
540
-8360
534

Beta
0.93
1.18
1.01
1.50
0.56
0.70
0.55
0.28
0.42
0.72
0.75
1.03
#NA
0.22
0.98
0.99
1.13
0.60
0.95
0.67
1.40
0.86
1.16
0.67
1.44
1.33
0.60
0.84
0.36
0.76
1.18
1.39
1.29
0.87
0.83
1.18
0.81
1.55
0.57
1.44
1.27
0.54
0.86
0.89
0.77
0.92

Under Valued

Telecommunication Services
Stock
BT GROUP
CABLE & WIRELESS COMMS.
INMARSAT
KCOM GROUP
TELECOM PLUS
VODAFONE GROUP

LT Rec
Strong Buy
Sell
Buy
Sell
Sell
Strong Buy
Neutral
Strong Buy
Neutral
Strong Buy
Buy
Strong Buy
Buy
Buy
Sell
Strong Buy
Neutral
Buy
Strong Buy
Buy
Strong Buy
Sell
Strong Buy
Strong Buy
Strong Buy
Buy
Buy
Sell
Strong Buy
Buy
Strong Buy
Sell
Sell
Buy
Buy
Strong Buy
Neutral
Buy
Buy
Strong Buy
Sell
Sell
Strong Buy
Strong Buy
Sell
Strong Buy

Price
194.90
35.75
416.60
67.60
702.00
177.30

12M Lo
161.00
31.25
389.30
57.50
433.00
155.05

12M Hi
204.10
51.20
719.50
84.00
802.00
182.75

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

LT Rec
Buy
Strong Buy
Sell
Buy
Sell
Neutral

Intellisys 08 January 2012

Target
257
136
358
83
475
186

Beta
0.92
0.65
0.52
1.27
0.06
0.65

Intellisys

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08 January 2012
Under Valued

Transport
Stock
BBA AVIATION
BRAEMAR SHIPPING SVS.
CLARKSON
EASYJET
FIRST GROUP
FISHER(JAMES)& SONS
GO-AHEAD GROUP
NATIONAL EXPRESS
NORTHGATE
STAGECOACH GROUP
WINCANTON

Price
175.60
293.50
1134.00
383.50
335.00
512.25
1368.00
220.40
190.90
263.80
65.75

12M Lo
156.00
282.00
1015.00
301.00
301.80
440.50
1190.00
201.60
190.90
199.97
56.00

12M Hi
240.80
545.00
1355.00
474.00
406.30
574.00
1598.00
270.20
346.70
272.41
162.50

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral
Neutral

Page 23 of 25

Target
170
664
1558
381
429
345
1802
189
369
209
164

Beta
1.40
0.90
0.81
0.76
1.10
0.83
0.97
1.30
1.34
0.90
0.86

Under Valued

Utilities
Stock
CENTRICA
NATIONAL GRID
PENNON GROUP
SEVERN TRENT
UNITED UTILITIES GROUP

LT Rec
Sell
Strong Buy
Buy
Neutral
Buy
Sell
Buy
Sell
Strong Buy
Sell
Strong Buy

Price
290.80
613.00
718.50
1532.00
618.50

12M Lo
278.80
530.00
584.50
1368.00
543.50

12M Hi
345.80
649.50
737.50
1600.00
637.00

ST Rec
Neutral
Neutral
Neutral
Neutral
Neutral

LT Rec
Neutral
Buy
Sell
Sell
Neutral

Intellisys 08 January 2012

Target
291
783
625
1355
620

Beta
0.50
0.57
0.63
0.47
0.60

Intellisys

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08 January 2012

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Intellisys 08 January 2012

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08 January 2012

the information and no responsibility or liability is accepted for the accuracy or sufficiency of
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Intellisys does not make personal recommendations. The information in this publication is
provided solely to enable you to make your own investment decisions.

If you are unsure about dealing in shares and other equity investments, you should contact
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The value of stocks and shares, and the income from them, can fall as well as rise and you
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Page 25 of 25

Intellisys 08 January 2012