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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 250 movers: Dr Martens strides ahead on rating upgrade; Close Bros slips

(Sharecast News) - FTSE 250 (MCX) 21,741.83 -0.08% Dr Martens was the standout gainer on the FTSE 250 on the back of a rating upgrade by Peel Hunt.

Close Brothers slumped after RBC Capital downgraded the stock to 'sector perform' from 'outperform'.

It noted the shares are up around 120% year-to-date, and now trade at 0.56x TBV one year-forward for a 5.9% return on tangible equity.

"Our thesis that there would be a positive motor finance Supreme Court (SC) outcome played out, and we have run out of upside," it said.

RBC pointed to the company's full-year results due in September and said management is incentivised to reset expectations lower, in its view.

"Therefore, we downgrade to sector perform and remove our Speculative risk qualifier," the bank said.

"We make no changes to our estimates, but note that our numbers already had included the removal of Winterflood following the disposal announcement."

RBC left its price target on the stock unchanged at 525p.

FTSE 250 - Risers

Dr. Martens (DOCS) 81.15p 8.63% Bridgepoint Group (Reg S) (BPT) 349.40p 2.70% Endeavour Mining (EDV) 2,518.00p 2.52% Moonpig Group (MOON) 209.00p 2.45% Chemring Group (CHG) 547.00p 2.24% W.A.G Payment Solutions (WPS) 90.80p 2.02% JPMorgan Indian Investment Trust (JII) 1,064.00p 1.92% Ashoka India Equity Investment Trust (AIE) 268.00p 1.90% Future (FUTR) 757.00p 1.88% QinetiQ Group (QQ.) 490.60p 1.87%

FTSE 250 - Fallers

Close Brothers Group (CBG) 493.20p -4.42% Crest Nicholson Holdings (CRST) 174.20p -2.68% Breedon Group (BREE) 367.20p -2.39% Hill and Smith (HILS) 2,110.00p -2.31% Harworth Group (HWG) 176.00p -2.22% Cranswick (CWK) 5,140.00p -2.10% Hays (HAS) 61.70p -2.06% Great Portland Estates (GPE) 317.00p -2.01% Harbour Energy (HBR) 224.00p -1.93% Morgan Advanced Materials (MGAM) 199.60p -1.92%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.