The City News: Shire PLC (SHP), Smiths Group plc (SMIN), Severn Trent Plc (SVT) & More

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Editor’s Note: Related tickers: Citigroup Inc (NYSE:C), Goldman Sachs Group, Inc. (NYSE:GS), Morgan Stanley (NYSE:MS), JPMorgan Chase & Co. (NYSE:JPM), Shire PLC (LON:SHP), Smiths Group plc (LON:SMIN), Severn Trent Plc (LON:SVT), Imperial Tobacco Group PLC (LON:IMT), Marks and Spencer Group Plc (LON:MKS), National Grid plc (LON:NG), Anglo American plc (LON:AAL), HSBC Holdings plc (LON:HSBA), British Sky Broadcasting Group plc (LON:BSY)

Shire Expands Presence in Ophthalmology (Labmate-Online)
Shire PLC (LON:SHP) has acquired SARcode Bioscience Inc, a privately held biopharmaceutical company in the ophthalmology therapeutic category along with global rights to its phase 3 compound LIFITEGRAST, which is currently under development for the signs and symptoms of dry eye disease. Shire PLC (LON:SHP) anticipates launch of the product in the United States as early as 2016 pending a positive outcome of the phase 3 clinical development program and regulatory approvals. Shire PLC (LON:SHP) is expecting to evaluate an appropriate regulatory filing strategy for markets outside of the United States. Terms included an upfront payment of $160 million, with SARcode shareholders eligible to receive additional undisclosed payments upon achievement of certain clinical, regulatory, and/or commercial milestones.

Shire PLC (ADR)

Shire Receives Buy Rating from Citigroup (SHP) (Zolmax)
Citigroup Inc (NYSE:C) reaffirmed their buy rating on shares of Shire PLC (LON:SHP) in a report issued on Wednesday, Stock Ratings Network reports. Shire PLC (LON:SHP) traded up 1.59% on Wednesday, hitting GBX 2168.00. Shire has a 1-year low of GBX 1682.00 and a 1-year high of GBX 2173.00. The stock’s 50-day moving average is currently GBX 1877.. The company’s market cap is £11.957 billion. SHP has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group, Inc. (NYSE:GS) reiterated a conviction-buy rating on shares of Shire PLC (LON:SHP) in a research note to investors on Tuesday, May 14th.

Low-carat gold at Irish end of U.S. corporate rainbow (BNN)
Irish officials and business leaders like to trumpet their success in attracting U.S. investment as proof the country is on the road to recovery. At a conference in Dublin on Friday the head of Ireland’s largest bank gave small business leaders the “15-second elevator pitch” he gives to U.S. executives when he is in New York or Boston. …Shire PLC (LON:SHP) Pharmaceuticals and Beazley PLC are among companies to have moved their domicile to Ireland in recent years, both citing tax advantages among their reasons.

Smiths Group Plc Seals A Healthy Improvement In Profits And Sales (Fool)
The shares of Smiths Group plc (LON:SMIN) were flat at 1,336p during early London trade this morning after the detection technology firm confirmed its revenues and underlying profits were higher in the last nine months than last year’s corresponding period. Smiths Group plc (LON:SMIN) owns John Crane, the world’s leading producer of industrial seals, which represents around a third of Smiths’ business. The seal specialist enjoyed “sustained underlying revenue growth” for the period, with operating margins benefiting from improved pricing and productivity.

Smiths Group’s Hold Rating Reaffirmed at Numis Securities Ltd (SMIN) (MideastTime)
Smiths Group plc (LON:SMIN)‘s stock had its “hold” rating reaffirmed by Numis Securities Ltd in a research note issued on Friday, ARN reports. They currently have a GBX 1,400 ($21.52) price target on the stock. A number of other analysts have also recently weighed in on SMIN. Analysts at Investec reiterated a “buy” rating on shares of Smiths Group plc (LON:SMIN) in a research note to investors on Friday. They now have a GBX 1,500 ($23.06) price target on the stock, up previously from GBX 1,425 ($21.90). Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Smiths Group plc (LON:SMIN) in a research note to investors on Friday. They now have a GBX 1,400 ($21.52) price target on the stock. Finally, analysts at JPMorgan Chase & Co. (NYSE:JPM) Cazenove reiterated an “overweight” rating on shares of Smiths Group in a research note to investors on Wednesday, May 8th. They now have a GBX 1,500 ($23.06) price target on the stock.

Smiths Group Rating Reiterated by Morgan Stanley (SMIN) (DailyPolitical)
Smiths Group plc (LON:SMIN)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley (NYSE:MS) in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. They currently have a GBX 1,281 ($19.69) price target on the stock. Other equities research analysts have also recently issued reports about the stock. Analysts at Numis Securities Ltd reiterated a “hold” rating on shares of Smiths Group plc (LON:SMIN) in a research note to investors on Friday.

Severn Trent investors say would hold out for 23 stg/share bid (Reuters)
Any bid for British water company Severn Trent Plc (LON:SVT) would have to be pitched at 23 pounds per share or more to have any chance of success, top investors said after an approach for the company earlier this month. Investors said they would happily remain shareholders if no such bid appears by a June 11 deadline set by the Takeover Panel, citing Severn Trent Plc (LON:SVT)’s secure dividend prospects, combined with a dearth of similar investments. The board of the utility, which supplies 7.7 million people with drinking water, said on May 15 it had been approached by a consortium on a possible offer, without saying what it was worth.

Profits flow at Severn Trent as consortium circles firm (Express)
PROFITS are continuing to flow ­steadily at Severn Trent Plc (LON:SVT), the water ­giant will reveal this week as a multi­national buyout consortium mulls whether to up its offer for the firm or walk away from the deal. The bid consortium, which consists of Canada’s Borealis Infrastructure, the Kuwait Investment Office and ­Britain’s Universities Superannuation Scheme, is understood to have offered about £5 billion for Severn Trent Plc (LON:SVT) ­earlier this month but the approach was rejected. The consortium now has until June 11 to table a new offer. Industry sources suggest that Severn, which supplies water to 7.7 million homes and businesses, is holding out for a higher price based on the ­“scarcity value” of it being one of only three listed water companies in the UK.

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