Broker tips: Rank Group, Evoke, James Fisher
By Iain Gilbert
Date: Friday 23 Jan 2026
(Sharecast News) - Rank Group slid on Friday after Deutsche Bank downgraded the shares to 'hold' from 'buy' and slashed the price target to 104p from 163p as it updated its view on the European gaming sector.
In the same research note, Deutsche also downgraded William Hill owner Evoke to 'hold' from 'buy' and cut its price target significantly to 35p from 108p.
"We see several of the major themes from 2025 continuing to drive the narrative and share prices for the sector into 2026," DB said.
DB pointed out that while taxes on the online UK market were known, responses from operators and customers were yet to be seen.
Analysts at Berenberg initiated coverage on marine engineering services provider James Fisher on Friday, issuing the group a 'buy' rating and 615p target price.
Berenberg noted that James fisher was three years into a five-year strategic plan to deliver "stability, efficiency and growth". Of its three divisions - energy, defence and maritime transport - Bernberg said two were currently benefiting from renewed investment tailwinds, aiding revenue growth.
The German bank stated operational efficiency was being achieved through applying self-help measures, which it reckons should increase James Fisher's adjusted underlying earnings margin towards 10%. We see scope for a higher margin in the longer term.
"Since the high balance sheet leverage was resolved in late 2024, management has been focused on the removal of cost duplication from a decade of M&A (2009-19) without any serious integration. This is a key building block to achieve the 10% adjusted EBITA margin target," said Berenberg.
"The current valuation looks compelling, trading at a 20% discount to the 10-year average EV/NTM EBITDA despite James Fisher having its strongest balance sheet in seven years. Our 25% peer group discount has scope to reduce as margins improve. Removing the discount would give an implied valuation of 900p."
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