Best of the Brokers for 03 November 2014

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Numis reiterated its “hold” rating following Direct Line’s results for the third quarter. The broker noted that the “recent trend of reducing in-force policies” slowed in the quarter, and said this was a positive sign that Direct Line’s pricing and efficiency initiatives were taking effect.

Cantor Fitzgerald reiterated its “hold” recommendation, with a target price of 470p. In its recent third quarter results IAG reported continued strong trading, with profits and earnings up, however Cantor stated that the firm “is vulnerable to any softening of trade on Trans-Atlantic”.

S&P Capital IQ reiterated its “buy” rating for RBS, after the company reported third-quarter income of £896m, ahead of the broker’s £567m consensus. The broker also noted that the bank has made further progress with strengthening capital due in part to its third-quarter profit.