Best of the Brokers for 9 October 2014

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EUROMONEY INSTITUTIONAL INVESTOR
Westhouse securities has reiterated its “neutral” rating. It reduced its target price from 1,090p to 1,063p. It added that Euromoney’s pre-close update contained no real surprises, but confirmed that challenging trading conditions in banking and foreign exchange continued to constrain growth.

JUPITER FUND MANAGEMENT
Panmure Gordon reiterated its “buy” rating with a target price of 470p. It expects Jupiter to show positive net inflows of £500m when it issues its assets under management report on Friday, continuing the trend from the first half of 2014.

TESCO PLC
HSBC has some good news for the troubled retailer. It is updating its rating to “neutral” and raising its target price to 195p given a lower risk profile. It says the board has been strengthened, cultural change is underway and a lower share price includes many risks being priced in.