UK drinks maker Britvic has agreed to a £3.3bn takeover by Carlsberg. The offer represented a 36 per cent premium on Britvic's pre-offer closing price of 970p but Peel Hunt analysts described it as "a little flat." They have downgraded the stock from Buy to Hold, despite increasing the target price to 1,315p following the offer.

SEEING MACHINES

Seeing Machines posted revenue and cash in line with expectations in a recent full-year trading update, although EBITDA fell. Peel Hunt analysts remain "bullish" however, following the £4.6m acquisition of Asaphus and "solid" underlying progress.

They say Buy, at a target price of 9p.

(c) 2024 City A.M., source Newspaper