Best of the Brokers for 19 December 2014

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BRIT
Numis reiterated its “buy” rating, stating that XL Group’s bid for Catlin has highlighted the potential attraction of the London underwriters. The broker said Brit is “well positioned in the current underwriting environment” and increased the target price by 20p to 310p.

GREEN DRAGON
Cantor Fitzgerald reiterated its “buy” rating. The broker noted that the gas company has received £27.1m and issued 13,756,000 shares to the Chandler Corporation following the exercise of warrants, and said this action had been taken account of in its valuation of Green Dragon.

TESCO
Shore Capital reiterated its “hold” rating, following news that the supermarket business is “cranking up the customer service ahead of the big Christmas shopping week”. The broker said it sensed that Tesco is “striving to better set up stores... and build availability”.