Best of the Brokers for 06 November 2014

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LEGAL & GENERAL
S&P Capital IQ reiterated its “sell” rating after the insurance group reported growth in annuity sales, due to a 29 per cent jump in bulk annuity deals, and operational cash generation in the first nine months of the year. Target price was maintained at 215p.

NATIONAL GRID
Whitman Howard reiterated its “sell” rating ahead of the utility firm’s interim results, and said it remained “wary of the longer term story” at National Grid, especially in the US. The broker said it still saw a lack of value at present levels.