Tullett Prebon Share Discussion Threads

[jinxo777] 30/5/2008 08:09

What's going on with these shares? £4.20 was cheap but 10% in 2 days is quite a big jump - any views anyone?

[jinxo777] 29/5/2008 16:31

It looks like the market got wind of the imminent profits warning hinted by Olly21 - lol!

[sebmasch] 29/5/2008 11:15

431 broken on strength, let's see how it reacts to 440.5..

[jinxo777] 28/5/2008 13:29

Olly21 - any specific desks you are talking about? based on the trading update from Tullet and the results posted by ICAP it sounds like you are taling nonsense - would you care to elaborate on your statement?

[olly21] 28/5/2008 13:19

There are many brokers at Tulletts sitting on their ars*s generating minimal revenue.

I suspect a profits warning is likely, not just for Tulletts but for all IDB's.

[sebmasch] 28/5/2008 13:07

Excellent bounce of the channel support of 420.5p this afternoon, watched it happen as it was on my watchlist this week. I've got a similar exit point to you jinxo. Things are looking good so long as we see a break of 431 soon, it's losing a bit of the momentum.

Hopefully we see a double bull flag break to end the day, it's holding my fast line ema at the moment but there are a lot of day traders taking the profits now.

I didn't have a clue what they did until I checked this board so thanks for the links Oxman.

[jinxo777] 27/5/2008 10:40

renaissance, I went back in at 4.27 today - I was going to wait until £4.20 but I missed the dip this morning so this will have to do - good luck!

[renaissance] 23/5/2008 19:13

I'm with you - bought in today at just over the £4.30 mark. I just hope that it is the bottom of the channel!!

[jinxo777] 20/5/2008 21:56

Hello - is anyone following this company? Today's drop seems to be a bit of profit taking after a 10% rise in the last few weeks + drop in ICAP following today's results. Any views on ICAP vs Tullet? I trade in both quite frequently. I think Tullet are undervalued compared to ICAP - I reckon they will go back down to £4.40 or so and then trade up to £4.90/£5.00 if the market steady itself - I have set myself £4.40 as the buy point. Any views?

[slapdash] 03/2/2008 22:45

ur it is an interdealer broker not a merchant bank ... you are thinking of collins stewart smashing guy..... slap

[smashingguy] 03/2/2008 22:10

worried IPOs have dried up
could have a profit warning

[slapdash] 03/2/2008 22:09

I'm here ... this should have positive updates going forward... only worry is I think some directors off loaded some stock...

slapper

[shauney2] 24/1/2008 23:48

oh well looks like im the only one here;-)
Lovely rise on the back of ICAP

[shauney2] 21/1/2008 14:16

Barclays share of the week


Shares of the Week
Tullett Prebon symbol:TLPR




Back in October, we wrote that ICAP, the world's largest inter-dealer broker, was 'one of the few genuine beneficiaries of volatile markets'. Since we made ICAP our share of the week, markets have certainly stayed volatile, and the shares have benefited accordingly, rising around 20%.

Last week, we downgraded ICAP shares to a Neutral recommendation. It isn't that we think there is no more volatility ahead – far from it. But after such a strong run, even after factoring in ICAP's optimistic outlook (it now predicts industry growth of over 10%), we believe the shares have probably gone about as far as they can.

If you bought ICAP back in October, we would now recommend switching to a smaller rival, Tullett Prebon. We have just begun covering this little-known FTSE 250 stock with an Outperform recommendation. Tullett is very much the same kind of business as ICAP, but appears to have been overlooked by the market.

Like ICAP, we think Tullett should benefit both from the current volatility and from rising demand for over-the-counter traded products from market participants like hedge funds and proprietary trading desks. We're also impressed by its investment in recruitment and technology (it has just hired a highly experienced team to work on its new TradeBlade electronic trading platform).

Unlike ICAP, Tullett trades at a significant discount to its competitors, currently on a PE ratio of 13 times versus around 20 for ICAP. To some extent, this is justified by its current lack of a proven electronic trading platform. However, it also simply in part reflects Tullett's dearth of broker coverage, and the fact that it is hard to find historical comparable data for the company, which de-merged from Collins Stewart in 2006.

Our fair value for Tullett shares is 630p, more than 35% above the current level. That would put it on a PE ratio of 17.5 times, still less than other inter-dealer brokers, but we feel this is about right given its need to catch up on the electronic trading front. We expect the forthcoming results in March to boost the share price, helping Tullett follow in ICAP's footsteps. If you agree, go for broke.

[highlands] 05/11/2007 10:32

I agree with Oxman. There is certainly an arbitrage opportunity here - provided that ICAP holds up, this should catch up. Therefore for those who missed out on ICAP, this may be another way in.

[its the oxman] 01/11/2007 23:51

look left behind re icap, (traded above 600p today) - should make up some ground from here i think

[matthewa] 30/10/2007 14:49

Moving now - any reason?

[matthewa] 03/9/2007 11:24

Bouncing now ahead of results any thoughts?

[upside potential] 30/7/2007 11:18

this is getting killed - no buyers in sight; v painful drift for the longs (like me!)

[mad3it] 26/7/2007 15:08

credit markets imploding is also killing it.

[mad3it] 26/7/2007 12:28

weak dollar is killing it imo.

[its the oxman] 20/7/2007 14:06

too soon now 448p - nevermind

[its the oxman] 20/7/2007 11:36

couldn't resist today - bought a few c.454p