LONDON (ShareCast) - Shore Capital said Hargreaves Lansdown has its work cut out for the remainder of the year after the fund manager and savings outfit missed forecasts with its interim results.
"We hold the Hargreaves Lansdown business model in very high regard, its asset gathering process remains hugely impressive. However, we believe the current level of earnings growth is out of step with the rating and we see fair value closer to 900p," Shore Capital said.

Broker Numis has welcomed a strong first-half report by satellite broadcaster and broadband group Sky and expressed optimism surrounding an upcoming auction for Premier League rights.

Sky, which currently has three-quarters of the rights and pays £760m per season, is expected to retain the majority, though Numis estimates at least 40% price inflation on the bidding.

UBS has unsurprisingly predicted a weak fourth quarter for oil services companies in its preview of the sector's earnings season, saying it remains negative about the industry "as tough gets tougher".

"We remain cautious on services as oil company capex delays and reductions are likely to impact earnings and sentiment. The sector will be volatile as sentiment shifts quickly but we stick to fundamentals," UBS said.

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