Investec slapped a BUY reco on this late yesterday whilst broker Panmure has a firm hold.


National Express Group PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
07-12-09 BUY 116.00 29.93 137.18 35.46

Panmure Gordon
07-12-09 HOLD 118.98 30.88 143.17 37.16

lot of 'ifs and buts' very risky, but potential rewards could be very high if things go right for National Express. Certainly not my usual type of buy but there does appear to be a near solid support floor in place something I have been using recently in this market with my longs....

Late yesterday by Investec....

National Express Group PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
10-12-09 BUY 116.00 29.93 137.18 35.46

Since beginning of December all broker ratings positive....

National Express Group PLC

SUMMARY CHARTS DIRECTOR DEALINGS FORECASTS WIRES
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
11-12-09 HOLD 118.98 30.88 143.17 37.16
Shore Capital
11-12-09 HOLD 112.20 55.20 155.00 22.70
Investec Securities
10-12-09 BUY 116.00 29.93 137.18 35.46
Astaire Securities
01-12-09 BUY 122.70 31.59 121.60 30.55

And another Broker reco..

Broker recommendation full details
Date: 27 November, 2009
Broker: JP Morgan
Company: National Express


Recommendation:
Raises price target to 214p from 199

InterMarket Stock's recommendation rating:
Overweight

BROKER CALL: National Express re-instated by Merrill Lynch as a buy
17 December, 2009 08:43:39 AM


Broker sets a 220p a share price target. It adds: 'Following considerable concerns across the industry in rail and subsequent downgrades, we estimate the UK Bus & Rail sector has underperformed the FTSE All Share by 23% year to date. Looking to 2010, we would expect a stronger relative performance. For National Express specifically, with a new CEO, lower balance sheet leverage and an improvement in underlying FY'10 EBIT (lower fuel, cost savings & some recovery in bus volumes), we see potential upside for the shares. The pre-close trading update is on the 21st Dec.'

already have this on my watchlist to buy when i have those boots back on

Be quick then cyners........

And another broker BUY reco....

17-Dec-09 National Express Group NEX Bank of America Buy 185.00p 220.00p - Reiteration

220p SP target....

they also remain a fairly strong t/o target .... can't remember what stagecoach offered them a little while back, which was turned down

Yep was a lot higher than present SP.

BROKER CALL: National Express on the road to recovery

18 December, 2009 06:17:27 AM


Morgan Stanley resumes coverage with an overweight recommendation and 230p a share price target as it says NEX is firmly back on the road to recovery. The rights issue solves for the time being the funding crisis, while the management will be bolstered by the appointment of Dean Finch as chief executive. Broker says: 'At the current price NEX trades on a both a P/E and an EV/EBIT (ex-rail) for 2011e of 7.6x versus its peers on 8x on average. We are surprised that a "pure bus play" with now sector average financial leverage should trade at a discount to its peers, especially given the depressed profit margins and scope for recovery over and above our forecasts.'

RNS Number : 4471E
National Express Group PLC
21 December 2009



National Express Group PLC




Pre Close Statement







National Express Group PLC ("National Express" or "the Group"), the international public transport operator, today releases a pre-close trading update ahead of the year ending 31 December 2009.




Summary




Trading has continued in line with the trends reported in the third quarter Interim Management Statement on 22 October 2009, with full year profit expected to be consistent with the previous outlook.




Overall, the underlying revenue* trend has stabilised in the fourth quarter, in line with the previously reported rate. Both the UK and Spain continue to deliver a strong operating performance, with cost efficiencies offsetting areas of revenue weakness. Action in North America will start to address continued underperformance in operational cost management, while revenue has declined as expected on previous lower contract renewals.




During the fourth quarter, the Group has successfully delivered its key objectives:





We have successfully completed a strongly supported rights issue to achieve a more robust capital structure and significantly reduce debt to an appropriate level;


We have resolved our outstanding rail issues, by completing the exit from the loss-making East Coast franchise in November 2009 and with the UK government indicating that the Group will continue to operate its remaining two rail franchises to their normal termination dates in 2011**;


We have appointed Dean Finch as Group Chief Executive, to focus on delivering our future strategy; driving cost efficiency, maximising cash generation and selectively growing the business where value is enhanced.





These developments have built on our earlier success, with annualised cost savings of 50 million secured in 2009 and strong organic cash generation reducing underlying debt.




Performance




UK Coach has returned to underlying revenue growth, of 4%, in the fourth quarter, with successful marketing and yield management offering even better value for our customers. Our new Birmingham coach station has opened for business, delivering a major improvement in customer experience. UK Bus underlying revenue growth has remained resilient at 2% year to date, despite the ongoing impact of higher regional unemployment. Fares are being held, to support customer retention and encourage travel, and we have optimised route coverage to protect profitability. In Rail, reduced demand in East Anglia continues to be offset through revenue support. The final element of the 2009 UK cost reduction programme has been announced, to deliver the Group's full 50 million of annualised savings, and placing the UK business in a stronger position for 2010.




Encouragingly, in Spain the rate of underlying revenue decline has improved to 5%, although economic conditions remain challenging. Urban operations have been relatively stable, while there are signs of improvement in regional travel revenue. In long distance travel, operating kilometres have been reduced to match lower demand. Extensions of several concessions have been secured for a period of 10 years, reflecting a commitment by regional authorities to bus transport as a more efficient and sustainable solution.




As expected, revenue in North America has declined with the start of the new school year, reflecting previous lower contract renewals. Performance in managing costs, particularly from double-running in the centralisation of operations, has been disappointing, impacting margin. This will benefit from a stronger management action plan to be rolled out in 2010, supported by tailoring of the Business Transformation programme to optimise cost and benefit.




Commenting on the statement, Executive Chairman, John Devaney, said:




"This has been a challenging year for National Express but, as it draws to a close, I am pleased that we have tackled and resolved our significant issues. We have eliminated the loss-making elements of our rail business and restored our balance sheet through a well-supported rights issue. National Express will enter 2010 on a sound basis, enabling our new Group Chief Executive Dean Finch and the team to focus on improving the performance of our market-leading businesses and delivering shareholder value."







Enquiries:




National Express Group PLC



Jez Maiden, Group Finance Director
020 7506 4324

Nicole Lander, Director of Communications
0121 460 8401






Maitland



Neil Bennett/George Hudson
020 7379 5151

sticky .... condense, condense, condense or edit, edit, edit! .... bought a few the other day and shall prob just sit on them for a few months

Tipped Yesterday.....

Sunday Times

At the start of the year National Express looked to be skidding off the tracks.The bus and train group was weighed down by a toxic mix of mounting losses on its East Coast rail franchise and too much debt. In short, the City feared for its future.

Bids from rival Stagecoach may have failed but as the year draws to a close National Express, against all odds, looks well placed to start motoring again.

The company has secured its financial future with a 360m rights issue that will help it halve its 1bn debt pile. Shares are trading at eight times 2010 earnings. At this price they are worth tucking away as an each-way bet. Buy.

Cyners..... amazing after todays update investech have notifyed to the market that they reamain with there initial target........... gob smacked myself but here it is freshly in......

Company Rating Target Price Potential Upside/ Downside Contributing Broker

National Express Group Buy

437p target 133.3% Investec

133.3% upside.

broker Buy reco out late yesterday....

National Express Group PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
13-01-10 BUY 116.00 29.93 137.18 35.46

already got them!

SP broken out through ceiling of uptrend channel. Very bullish signal. New upleg on way !!

NEX

Tipped inn Investors Inteligence this morning.....



Portfolio Update

Two long positions performed better than expected. National Express, a position initiated two days ago, broke to the upside (see right). This raises the possibility of a rally to 300p. We gingerly up the stop to 258p.

sp down 10% after IMS.

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