Best of the Brokers for 17 July 2014

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Oriel Securities has upgraded the consumer goods group to “reduce” from “sell”, raising the target price to 2,600p from 2,190p. The broker thinks while Unilever is strong, earnings per share will be flat. It also sees a lack of consolidation pressure, and worries that growth is too confined to emerging markets.

Citigroup has upgraded the gambling group to “neutral” from “sell”, but cut the target price to 84p from 95p. The broker remains optimistic for US forecasts if states open up to online gambling, while European revenues are set to return to growth, but it has cut earnings forecasts to reflect tough competition.