Brokers' view: Canaccord Genuity

Gareth Evans sees glory in Nanoco Group, the maker of cadmium-free quantum dots. Evans remarks that the ‘Nanoco story hinges on other deliverables’ in its most recent full-year results, which include a ‘major TV display partner’ deploying dots in a commercial product.

He adds that Canaccord hopes ‘for further positive progress in the solar power and lighting markets’, valuing the company on a price-to-earnings ratio of 25 times in three years, assuming the company gets a ‘modest market share’ in the LED back-light sector. Rating the shares as a buy, a target price of 80p is identified.

Sticking up for Ash
The mixed set of Ian Poulter and CFA charterholder Catherine Heath enthuse on the potential of emerging market fund Ashmore Group, which recently reported assets under management of $58.9 billion for the three months to September, a decline of 10.5 per cent against the previous quarter. The largest decline in value came from its equities investments, which fell in value by 26.7 per cent to $7.4 billion.

Despite this, it said there was an ‘encouraging’ increase in inflows from Asian retail investor products, rating shares in the company (a client of Canaccord’s) as a buy with a target price of 397p.