Best of the Brokers for 05 September 2014

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WOLSELEY
BS has kept its valuation at “neutral” but raised the target price to 3,500p from 3,320p. The broker believes a special dividend payment is likely this year to be around £200m, and thinks the strength of US operations will offset a slowdown in Europe and support earnings growth.

M&C SAATCHI
Numis has bumped its rating to “buy” from “add”, but kept the target price at 369p. The broker believes that M&C Saatchi’s recent drop in share prices means there is a now a very attractive entry opportunity, and forecasts the company will return to double digit growth in 2015.

ABCAM
Canaccord Genuity has cut to “hold” from “buy”, but upped the target price to 425p from 400p. The broker moved to “hold” before results on recent share price strength, but noted growth is expected to continue from expansion of the product pipeline and increase use of direct sales.